Billionaire NHL Owner Explains Why Major Donors Favor Trump Over Biden: ‘Difficult to Back Nonsense
Billionaire Tom Dundon, the owner of the Carolina Hurricanes and a key figure in finance, made comments during a Fox News interview about the 2024 presidential race, indicating that major financial donors are shifting their support towards former President Donald Trump instead of President Joe Biden. Dundon critiqued Biden’s presidency as disastrous, pointing to issues such as foreign policy, open borders, and rising inflation rates. He mentioned that previously, some donors were turned off by Trump’s interpersonal conduct; however, the lack of viable alternatives has shifted their perspective. Dundon’s observations align with reports from POLITICO, which suggest that despite previous reservations about Trump’s criticism of the 2020 election and the judicial system, many financial elites are now willing to overlook these concerns and support him again due to dissatisfaction with Biden’s policies.
Billionaire Tom Dundon, who owns the Carolina Hurricanes, said that major donors are backing former President Donald Trump over President Joe Biden because of Biden’s “nonsense.”
Dundon made the remarks during a Fox News interview on Wednesday ahead of this fall’s rematch between the two candidates.
“Historically, some of the way Trump treats people doesn’t sit well with them when you have choices, but there’s really not many choices anymore,” he said.
He added that many people are backing Trump because Biden’s term in office has been disastrous, from his foreign policy, open borders, and surging inflation rates.
“Some of the things have gotten to where it’s hard to support nonsense,” he said.
Left-leaning POLITICO highlighted the shift among many Wall Street power players, stating that “many high-dollar donors at banks, hedge funds and other financial firms” had “turned their backs on Trump” over his criticism of the 2020 election and the judicial system, but now they are “looking past qualms about his personality” to focus “on issues closer to the heart: how he might ease regulations, cut their taxes or flex U.S. power on the global stage.”
Some who are coming back to Trump include Point Bridge Capital founder Hal Lambert, hedge fund executive Nelson Peltz, and hotel mogul Robert Bigelow.
Trump “is a much better choice than what we have now. Just check out the four years that Trump was in office versus the three years that President Biden was in office,” said billionaire New York radio station owner and real estate investor John Catsimatidis. “It’s horrible what’s going on.”
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Billionaire hedge fund manager Bill Ackman is reportedly leaning toward backing Trump because of Biden’s response to the rise in anti-Semitism that has erupted on his watch.
Steve Schwarzman, the CEO and co-founder of Blackstone, a private equity and real estate firm, is also coming back to support Trump.
Schwarzman said that the “dramatic rise of anti-Semitism has led me to focus on the consequences of upcoming elections with greater urgency.” The 77-year-old businessman added that the Biden administration’s policies on the economy, immigration, and foreign affairs “are taking the country in the wrong direction.”
“For these reasons, I am planning to vote for change and support Donald Trump for president,” he said. “In addition, I will be supporting Republican Senate candidates and other Republicans up and down the ticket.”
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