Former President Donald Trump made a long-teased announcement this week that he would run for president a third time, but some potential billionaire donors were left unimpressed.
In fact, at least four billionaires known for supporting GOP causes have backed away from the leader of the “Make America Great Again” movement.
Rupert Murdoch, the billionaire media mogul and executive chairman of News Corp, has apparently turned on Trump.
“We have been clear with Donald. There have been conversations between them during which Rupert made it clear to Donald that we cannot back another run for the White House,” a senior News Corp source told the newspaper, per The Guardian.
After Republicans failed to gain as many seats in Congress as they expected – including in key races with Trump-backed candidates – the Murdoch owned New York Post swiftly turned against Trump. A cover illustration last week depicted Trump as Humpty Dumpty and his 2024 campaign announcement garnered only a small mention where he was described as a “Florida retiree.”
This Wednesday, the Post also reported that other billionaires and megadonors with a history of supporting Trump are not planning to back his latest campaign attempt.
Estée Lauder cosmetics heir Ronald Lauder, 78, told the outlet he “has no plans to support Trump,” though he has donated to him in the past.
“I wouldn’t give him a f***ing nickel,” New York businessman Andy Sabin, a former Trump donor, told the Post. “What I’m telling you is what most people I know think but are afraid to say... I don’t really give a s***. Trump does nothing to help my life.”
According to the outlet, Florida records show Sabin contributed $55,000 this year to the Friends of Ron DeSantis PAC in support of the Republican Florida governor.
POLITICO reported that billionaire Ken Griffin, founder of the Citadel hedge fund, has also jumped from the Trump camp to the DeSantis camp. This summer, Citadel moved to Florida from Illinois, where Griffin opposed Democrat Gov. JB Pritzker over a graduated income tax proposal.
“I don’t know what he’s going to do. It’s a huge personal decision,” Griffin said of DeSantis, according to POLITICO. “He has a tremendous record as governor of Florida, and our country would be well-served by him as president.”
Griffin praised Trump early on in his presidency, according to Institutional Investor.
“It is time for the Republican Party to turn to a new generation of leaders and I intend to support one of them in the presidential primaries,” said billionaire Blackstone private equity firm CEO and co-founder Stephen Schwarzman this week, according to Axios. He confirmed that he would not be supporting Trump, as it is better when leaders “are rooted in today and tomorrow, not today and yesterday.”
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