Blackstone CEO Steve Schwarzman says he will back Trump, citing concerns over rise in antisemitism

• Steve Schwarzman has endorsed Donald Trump's reelection bid.
• It gives the former president backing from one of Wall Street's biggest figures.

The CEO of Blackstone, Steve Schwarzman, has said he will back Donald Trump's reelection bid, citing concerns over "the dramatic rise of antisemitism" and the "direction" of the country.

In a statement to Axios, Schwarzman said: "The dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency."

"I share the concern of most Americans that our economic, immigration and foreign policies are taking the country in the wrong direction. 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," he added.

The endorsement marks a reversal for Schwarzman, the billionaire cofounder of Blackstone, the world's largest alternative asset manager.

In November 2022, the lifelong Republican said he would not support Trump in the 2024 presidential primary, calling instead for "the Republican Party to turn to a new generation of leaders."

Schwarzman's endorsement will, therefore, come as a particularly welcome boost for Trump, providing the former president with access to a powerful network of Republican donors.

It would also appear to suggest Trump's strategy of accusing Biden of being weak on antisemitism — especially in the wake of pro-Palestinian college protests — has started to pay off.

"If Jewish people are going to vote for Joe Biden, they have to have their head examined," Trump said in a video posted to social media earlier this month.

If reelected, Trump has said he would he would revoke student visas of "anti-Semitic foreigners" and that he would not welcome any Gaza refugees into the US.

"Under the Trump administration, we will revoke the student visas of radical anti-American and anti-Semitic foreigners at our colleges and universities and we will send them straight back home," he said at a campaign speech in Iowa last year.