Private equity giant's support gives Trump access to deep-pocketed donors

Blackstone CEO Steve Schwarzman is throwing his support behind former President Donald Trump, opening up access to a fresh network of big donors.

Blackstone is one of the largest private equity firms, managing a total of over $1 trillion in assets. Schwarzman has been a longtime major Republican donor and friend of Trump, but turned against him after the 2022 midterm elections, saying in a November 2022 statement that the Republican Party should move on. He changed course on Friday, once again throwing his full backing behind Trump, Axios reported.