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Schwarzman’s Wallet Props Up Wall Street Elite’s Giving to Trump

  • Within industry’s top 31 firms, some worry about a backlash
  • Blackstone CEO has provided three-quarters of cash from group
Stephen Schwarzman, co-founder and chief executive officer of Blackstone Group Inc., poses for a photograph ahead of a Bloomberg Television interview in London, U.K., on Monday, Oct. 7, 2019. U.S. politics is nearly as heated and polarized now as it was in the runup to the Civil War, according to Schwarzman.
Stephen Schwarzman, co-founder and chief executive officer of Blackstone Group Inc., poses for a photograph ahead of a Bloomberg Television interview in London, U.K., on Monday, Oct. 7, 2019. U.S. politics is nearly as heated and polarized now as it was in the runup to the Civil War, according to Schwarzman.Photographer: Jason Alden/Bloomberg

A few years ago, Stephen Schwarzman was just the latest deep pocket on Wall Street to open up to Donald Trump. Right now, he’s the biggest one left.

Donations to Trump’s 2020 campaign from the most elite corners of American finance would be down drastically compared with 2016 -- were it not for the notable exception of Schwarzman, who has become one of the president’s most ardent Wall Street backers.