Billionaire Casino Tycoon Stephen Schwarzman Backs Trump for 2024 Race


Billionaire Stephen Schwarzman, the mastermind behind the Blackstone Group and a renowned figure within the international casino industry, recently declared his intent to support former President Donald Trump in the United States Presidential race of 2024. As a seasoned business magnate and proud Republican, Schwarzman had previously backed Trump during the 2016 and 2020 elections.

However, the refusal by Trump to concede defeat to President Joe Biden greatly frustrated Schwarzman. In the aftermath of the unprecedented January 6 riot, Schwarzman echoed the sentiments of many in calling for a new wave of leaders within the Republican party. Yet fate, it seems, had a different story to play, as Schwarzman found himself realigning with Trump amidst growing concerns over Biden’s leadership.

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Attributing his change of heart to what he views as the disheartening trajectory of Biden’s economic, immigration, and foreign policies, Schwarzman announced his renewed support for Trump. “I share the concern of most Americans that our economic, immigration, and foreign policies are taking the country in the wrong direction,” voiced Schwarzman in his official statement to Axios. He further pledged his commitment by stating, “For these reasons, I am planning to vote for change and support Donald Trump for president.”

With a staggering net worth exceeding $38 billion, Schwarzman ranks as the 38th richest person in the world, according to Forbes. His avowal serves as a timely boon to Trump’s campaign, as two of the Republican Party’s most steadfast donors, the Koch network, and Dr. Miriam Adelson, remain on the fence as the 2024 general election looms.

Amid dwindling campaign funds, Schwarzman, a discerning investor with a vast empire within the casino industry, could be the crucial boost needed by Trump, who, as of April, reported having $48 million in cash compared to Biden’s $84.5 million.

Indeed, no stranger to the world of casinos, Schwarzman’s Blackstone owns Crown Resorts, Australia’s premier casino firm, and commands substantial stakes in a number of Las Vegas Strip establishments such as Bellagio, The Cosmopolitan, Aria, and Vdara via leaseback arrangements with MGM Resorts International.

Schwarzman isn’t the only billionaire with ties to the gaming industry who is rallying behind Trump. Steve Wynn, comes as the latest high-profile businessman, to share his support for Trump. Fox Business revealed that an event organized by Wynn and billionaire hedge fund manager John Paulson in early April raised a staggering $50 million for the impending Trump 2024 campaign.

As the landscape of the 2024 presidential race continues to evolve, scheznarians reveal Trump to be the betting favorite, holding a winning likelihood of about 58%. Thus, while political uncertainties loom, one thing remains as solid as the billionaire backers behind it: Trump’s formidable campaign for the 2024 Presidency.