Billionaire hedge fund manager and longtime Democratic Party donor Bill Ackman is set to endorse Donald Trump in the 2024 presidential election.
Ackman, who is the CEO of Pershing Square Capital Management and has an estimated worth of $4 billion, has reportedly decided to endorse Trump after concluding that Joe Biden must be removed from office.
The Financial Times reports:
Hedge fund billionaire Bill Ackman is leaning towards backing Donald Trump in the US election, according to a person briefed on his thinking, as some of Wall Street’s leading figures throw their weight behind the former president.
Ackman, who backed Trump’s Republican rivals, including Nikki Haley, in the party’s primary contest this year, is likely to make his endorsement on X, the Elon Musk-controlled social media platform in which he is a minority investor. Ackman has previously donated money to Democrats, including Dean Phillips, who mounted a primary challenge to President Joe Biden this year.
The person familiar with Ackman’s thinking said the billionaire did not believe alternative candidates such as Robert F Kennedy Jr, whose long-shot White House bid he had also supported, were likely to win.
They added that Ackman’s dislike for Biden far outweighed his ambivalence for Trump.
Ackman has recently expressed grave concerns about the rise of anti-semitism across the American left and helped spearhead the campaign to remove Harvard President Claudine Gay from office.
His likely endorsement comes after the CEO of Blackstone, Stephen A. Schwarzman, also confirmed that he would be fully supporting Trump against the Biden regime.
“The dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency,” Schwarzman told Axios.
“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.
