Last Updated on 11/09/2024 by Arun jain
US presidential election Always important, but this year the stakes may be especially high.
That’s because the main candidates – former President Donald Trump and Vice President Kamala Harris – are at opposite ends of the spectrum on many fundamental issues. The result, therefore, could have far-reaching consequences on people’s lives and the economy, said Richard Haas, former president of the Council on Foreign Relations.
“This is one of those rare elections where the differences probably outweigh the similarities, and that’s why it’s such a consequential election for American democracy and for American foreign policy in the world,” says Haas, a senior counselor at the investment bank. said the title in a recent conversation with Centerview Partners, Goldman Sachs.2024: Election Year“
For Wall Street bankers, traders and executives, the election also affects their jobs and business prospects, from US trade relations to megamerger demands. Trump is expected to be good for cryptocurrency, for example, but bad for trade with China — and the list goes on.
Wall Street billionaires are, therefore, literally hedging their bets by contributing money to candidates of their choice.
To see where Wall Street’s top leaders stand Ahead of Tuesday’s debateBusiness Insider examined the Federal Election Commission’s website for personal donations from Wall Street leaders between 2023 and August. The data shows donations from leaders in investment banking, private equity and hedge funds, including Blackstone and Evercore. However, BI received zero donations to any candidate from the heads of large, publicly traded investment banks, including Goldman SachsJPMorgan, Citi, Bank of America, and Morgan Stanley.
BI’s FEC data search may not include some of the more recent donations because the agency uploads new data each month. Also, donations to Harris’ campaign prior to July represent donations to President Joe Biden’s re-election campaign that were made to Harris after Biden dropped out of the race. We will update this list when new data becomes available.
See below to find out which Wall Street tycoons are voting for which candidate in the 2024 presidential election, in alphabetical order:
Roger Altman
Title: Founder and Senior Chairman of Investment Bank Evercore
What he has said: Altman, who worked for the US Treasury under the Carter and Clinton administrations, told CNBC in July that he supported Harris.
Donations: In March, Altman donated $100,000 to the Harris Action Fund and $50,000 to the same fund in 2023. Last year, he also donated $25,000 to the Harris Victory Fund and $6,600 to Harris for President.
Blair Efron
Title: Partner and Cofounder of Centerview Partners
What he said: A supporter of Harris during her 2020 presidential run, Efron praised her leadership and called her the right candidate for the 21st century.
Donation: In March, Efron donated $100,000 to what is now the Harris Victory Fund. The FEC’s website also shows several donations in 2023, including $55,000 to the Harris Victory Fund and $6,600 to Harris for President.
John Gray
Title: President and Chief Executive Officer of Blackstone
What he has said: Gray, a former Biden fundraiser, donated to Harris’ campaign after Biden dropped out of the race in July.
Donation: Gray donated $413,000 to the Harris Action Fund in late July, a person with knowledge of the contribution said. He has also made several donations to Biden’s campaign through funds that have since been transferred to Harris, including $6,600 through two donations of $50,000 to the Harris Action Fund in 2023 and $3,300 to Harris for President.
Ken Griffin
Title: CEO and founder of hedge fund Citadel and founder of market maker Citadel Securities
What he has said: Griffin supported Trump’s opponent Nikki Haley in the Republican primaries and told Bloomberg he would wait to see who Trump picks for his running mate before deciding whether to put his billions of dollars behind the GOP nominee.
Donations: It has given $0 to Trump or Harris’ campaigns since 2023, according to the FEC’s website.
Mark Lasry
Title: Chair, CEO, and cofounder of hedge fund Avenue Capital
What he said: Lasry was a fundraiser for Harris during his 2020 presidential run.
Donations: In March, Lacery gave $100,000 to the Harris Action Fund, after giving $25,000 to the same fund last year. In 2023 he made several donations to Biden that have since been given to Harris, including $6,600 to Harris for President, $15,000 to the Harris Victory Fund, and $25,000 to the Harris Action Fund.
Howard Lutnick
Title: Chairman and CEO of financial-services firm Cantor Fitzgerald
What he’s said: Lutnick, a Trump fundraiser, has praised the former president on social-media platform X, citing his “supportive stance on #Bitcoin” and calling Trump “a great friend and a great man.”
Donations: In April, Lutnick donated $413,000 to the Trump 47 Committee.
Omeed Malik
Title: Founder and CEO of Merchant Bank Farwahar Partners
What he has said: Omid cites Trump’s economic policies and what he says is the left’s weaponization of the rule of law.
Donation: In March, Malik endorsed Donald J. for President 2024. Trump contributed $6,600 through two $3,300 donations. He contributed $31,600 to the Trump 47 Committee in two donations this year.
Peter May
Title: President and Founding Partner of Trian Fund Management
What he has said: May seems to have let her money do the talking.
Donations: May donated $6,600 in June through two donations of $25,000 to the Harris Victory Fund and $3,300 to Harris for President.
Robert Mercer
Title: Former CEO of hedge fund Renaissance Technologies
What he said: Mercer was a big Trump supporter in 2016 and played a role Getting Steve BannonThe former head of Breitbart News, which was partly owned by Mercer, in the Trump White House.
Donations: In March, Mercer gave $814,399 to the Trump 47 Committee and Donald J. Trump donated $6,600 through two donations of $3,300 to the 2024 presidential run.
John Paulson
Title: Founder of Paulson & Company, hedge fund turned family office
What he has said: Paulson has said he supports Trump’s policies on energy, border security and trade. He has raised a number of funds for Trump, and the former president has put forward his name for secretary of the Treasury.
Donations: Paulson has made numerous donations to Trump PACs over the years, including $806,300 to the Trump 47 Committee in March.
Nelson Peltz
Title: Founding partner of hedge fund Trian Partners
What he said: Peltz rejected Trump after the riots at the US Capitol on January 6, 2021 but told the Financial Times in March He will probably vote for him again, citing Biden’s fitness for office.
Donations: It has given $0 to Trump or Harris’ campaigns since 2023, according to the FEC’s website.
Peter Orszag
Title: CEO of investment bank Lazard
What he has said: Orszeg, who was director of the US Office of Management and Budget under President Barack Obama, told CNBC in July that he supports Harris.
Donations: In June, Orszag donated $100,000 through two $50,000 donations to the Harris Victory Fund and $6,600 through two $3,300 donations to Harris for President.
Steve Schwarzman
Title: Chairman and co-founder of private-equity giant Blackstone
What he said: Schwarzman in May issued a statement Trump puts his weight behind it. In it, Schwarzman cited a “dramatic rise in anti-Semitism” as well as economic, immigration and other policies that he said are “moving the country in the wrong direction.”
Donations: In May, Schwarzman gave $419,600 to the Trump 47 Committee and $6,600 to Donald J. Trump for President 2024 through two donations of $3,300.
David Shaw
Title: Hedge Fund Founder Dee Shaw
What he said: Shaw has served on the President’s Advisory Council on Science and Technology for both Bill Clinton and Barack Obama.
Donations: Shaw made several donations to Biden in 2023 that have since been given to Harris, including $295,700 to what is now the Harris Action Fund and $6,600 to Harris for President.
Paul Singer
Title: Founder, President, Co-CEO and Co-Chief Investment Officer of Elliott Management
What he’s said: Singer was a big donor to Trump’s rival Haley and has criticized Trump’s trade policy, but reportedly met with Trump over the summer to discuss the donation.
Donations: In June, Singer donated $419,600 to the Trump 47 Committee and Donald J. Donated $6,600 to Trump.
John Solotor
Title: Global Head of Blackstone Private-Wealth Solutions
What she said: Soloter seems to let her money do the talking.
Donations: In May, she gave $6,600 to Harris for President through two donations of $25,000 and $3,300 to the Harris Action Fund.
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