The Billionaires Backing Trump Have Selective Memory
The strength of the economy shows that the real goal here is to extend the former president’s handouts to the wealthy and water down regulation.
It’s a rematch: Joe Biden and Donald Trump during a presidential debate in 2020.
Photographer: Jim Bourg/Reuters/Bloomberg
When billionaire John Paulson was asked why he was hosting a fundraiser for Donald Trump as the former president attempts to regain the White House, here’s what he told a Bloomberg News reporter during an interview at his $110 million Palm Beach estate:
Little of that is true, and the parts that are come with a big asterisk, as Paulson, who made his fortune during the financial crisis running a hedge fund that bet against the US housing market, should know. But in recent weeks, a growing number of billionaires have come out in support of the former president including Blackstone Inc. co-founder Steve Schwarzman, whose $41 billion net worth puts him among the 40 richest people in the world; Oracle Corp. co-founder and Chairman Larry Ellison; Cantor Fitzgerald LP Chief Executive Officer Howard Lutnick; Continental Resources Chairman Harold Hamm; and Home Depot Inc. co-founder Bernie Marcus. Citadel founder Ken Griffin, a Republican donor, has said “for investors, overall, a Trump administration is good for our capital markets” but is waiting to see who Trump picks as his running mate before giving an endorsement.