Billionaires back away from supporting Trump's third presidential bid

"I wouldn’t give him a ... nickel," billionaire metal mogul Andy Sabin said about Trump's reelection efforts.

Updated: November 17, 2022 - 1:49pm

The Facts Inside Our Reporter’s Notebook

Several billionaires who supported former President Donald Trump's first two election campaigns are now backing away from supporting his third bid. 

"America does better when its leaders are rooted in today and tomorrow, not today and yesterday," billionaire Stephen Schwarzman, the CEO and co-founder of Blackrock private-equity group, said Wednesday, according to Axios.

Billionaire Ken Griffin, founder of the multinational hedge fund Citadel, said Tuesday before Trump announced his 2024 reelection bid: "I’d like to think that the Republican party is ready to move on from somebody who has been for this party a three-time loser."

Griffin, who gave more than $100 million mainly to Republicans ahead of the midterms according to CNBC, said he would support Florida GOP Gov. Ron DeSantis for president.

Cosmetics heir Ronald Lauder "has no plans to support Trump," a spokesperson for the billionaire told The New York Post on Wednesday. Lauder, who donated nearly $100,000 to Trump's first reelection effort,  has not said who he would back in 2024, but donor records show he has given more than $200,000 to DeSantis since 2018.

Billionaire metal mogul Andy Sabin said told the New York Post this week, despite contributing $120,000 to Trump's second reelection campaign, "I wouldn’t give him a ... nickel."