Stephen Schwarzman had previously called on the GOP to turn to a 'new generation' of leaders
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Blackstone CEO and co-founder Stephen Schwarzman revealed on Friday that he will be supporting former President Donald Trump in 2024 after previously distancing himself from Trump leading into the GOP primary.
"I share the concern of most Americans that our economic, immigration and foreign policies are taking the country in the wrong direction," Schwarzman told Fox News Digital in a statement that was first reported by Axios on Friday.
"For these reasons, I am planning to vote for change and support Donald Trump for President. In addition, I will be supporting Republican Senate candidates and other Republicans up and down the ticket."
Schwarzman, who briefly served as chairman of Trump's Strategic and Policy Forum, added that the "dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency."
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Blackstone CEO Stephen Schwarzman and former President Donald Trump (Getty Images)
President Biden has been heavily criticized by Republicans, including Trump, for not doing enough to combat antisemitism, particularly with his response to anti-Israel protests that have erupted on college campuses nationwide over the past few months.
Schwarzman, who co-founded the Blackstone private equity firm in 1985 and is worth an estimated $39 billion, came out against the idea of Trump running for president again when he said in 2022 that it was time for the GOP to look in a new direction.
"America does better when its leaders are rooted in today and tomorrow, not today and yesterday," Schwarzman said. "It is time for the Republican Party to turn to a new generation of leaders and I intend to support one of them in the presidential primaries."
VP HOPEFULS DUELING FOR DOLLARS AS THEY SHOW OFF THEIR FUNDRAISING CLOUT FOR TRUMP
U.S. President Donald Trump (R) delivers opening remarks at the beginning of a policy forum with business leaders chaired by Blackstone Group CEO Stephen Schwarzman (Chip Somodevilla/Getty Images)
Fox News Digital reached out to the Trump and Biden campaigns for comment but did not receive a response.
Big money GOP donors have been coalescing around Trump in recent months as the former president attempts to close the cash on hand gap with the Biden campaign.
Former President Donald Trump holds a rally in the historical Democratic district of the South Bronx on May 23, 2024 in New York City. (Spencer Platt/Getty Images)
Biden had regularly been outpacing Trump in monthly fundraising until April when he was topped by Trump for the first time this cycle.
Trump's April haul was boosted by a record-setting $50.5 million that the former president's campaign raked in at a single event early in the month with top dollar GOP donors that was hosted at the Palm Beach, Florida home of billionaire investor John Paulson.
Fox News Digital's Paul Steinhauser contributed to this report
Andrew Mark Miller is a reporter at Fox News. Find him on Twitter @andymarkmiller and email tips to
