WASHINGTON (Reuters) – Democratic presidential candidate Kamala Harris and Republican rival Donald Trump are locked in a tight race ahead of the November presidential election and some on Wall Street are choosing sides. Here's what we know about where some of Wall Street's top bosses are leaning.
BILL ACKMAN, CEO, PERSHING SQUARE CAPITAL MANAGEMENT
Billionaire hedge fund manager Ackman endorsed Trump last month shortly after the former president was shot in the ear during a rally, a major reversal from January 2021, when Ackman called for Trump to resign after his supporters stormed the U.S. Capitol.
Ackman said he had recently spent a few hours with Trump and sat next to him at a fundraiser, but he did not explain why he was supporting him. Ackman also donated $1 million to the primary campaign of Rep. Dean Phillips, who has little chance of winning against President Joe Biden.
A spokesman for Ackman declined to comment.
ROGER ALTMAN, CO-FOUNDER OF EVERCORE
Speaking to CNBC last month, Democratic donor Altman said he was backing Harris and that both campaigns would have all the money they needed. “It’s not going to be money that decides this race,” he added. An Evercore spokesperson did not respond to a request for comment.
MARC ANDREESSEN, GENERAL PARTNER, ANDREESSEN HOROWITZ
Marc Andreessen, a Silicon Valley venture capitalist who has previously expressed support for Democrats including Hillary Clinton, told employees last month that he was donating to Trump PACs based on the former president’s technology policies, multiple outlets reported. An Andreessen spokesperson declined to comment further.
SCOTT BESSENT, CEO OF KEY SQUARE CAPITAL MANAGEMENT
Hedge fund manager Bessent is acting as an unofficial adviser to the Trump campaign and is considered a possible Treasury secretary if Trump wins. Bessent told Bloomberg this month that he has advised Trump on how to control U.S. debt. “This election cycle is the last chance for America to grow and get out of this mountain of debt,” he said. A representative for Bessent did not immediately respond to a request for comment.
BLACKSTONE BOSSES
Stephen Schwarzman, a longtime Trump donor and chief executive of private equity giant Blackstone (NYSE:), announced in May that he was endorsing Trump, citing economic, immigration and foreign policy concerns, despite having said in 2022 that he would not back Trump in 2024. He plans to donate to him this cycle, according to a person familiar with the matter.
Meanwhile, Blackstone Chairman and Schwarzman deputy Jonathan Gray has been contributing to Harris, according to a second source.
A representative for Blackstone declined to comment.
JAMIE DIMON, CEO OF JP MORGAN
In an unusual move, the chief executive of the Wall Street bank, which generally leans Democratic, called in a Washington Post column this month for the next president to “restore our faith in America” and for the next administration to lean on both political parties. But he stopped short of endorsing either candidate.
A JPMorgan spokesman declined to comment.
BLAIR EFFRON, CO-FOUNDER OF CENTERVIEW PARTNERS
Effron, a longtime supporter of the Democratic Party, is reportedly backing Harris. Effron had already endorsed Harris when she ran in 2020, praising her “great leadership” and personal qualities in a 2020 interview with Bloomberg.
Ken Griffin, CEO of Citadel
The hedge fund billionaire and major Republican donor who has expressed skepticism of Trump in the past said in May that he had not donated to Trump's election campaign. So far, Griffin is focused on supporting Republican congressional races, a source familiar with the matter said.
MARC LASRY, CEO OF AVENUE CAPITAL GROUP
Lasry, a veteran Democratic fundraiser who supported Harris during her first presidential bid, is backing her again for 2024. Lasry and his wife plan to host fundraisers for Harris, the Journal reported this month. Representatives for Avenue Capital did not immediately respond to a request for comment.
HOWARD LUTNICK, CEO, CANTOR FITZGERALD
The investment bank chief, who says he has known Trump for decades, hosted a fundraiser for Trump in the Hamptons this month and co-hosted a fundraiser in Palm Beach, Florida, earlier this year with hedge fund billionaire John Paulson, Bloomberg reported.
Lutnick told Bloomberg Television that Hamptons guests would pay $25,000 to attend, $50,000 for a photo with Trump and $250,000 to sit at a table and chat with Trump.
“It's a very intense race right now… and I'm trying to help in any way I can,” he said.
A spokesman for Cantor declined to comment.
PETER ORSZAG, LAZARD'S CHIEF EXECUTIVE OFFICER, AND RAY MCGUIRE, LAZARD'S PRESIDENT
The two executives have said they are both personally supporting Harris as a candidate. Orszag previously held government positions during the Democratic administrations of Clinton and Obama. A spokesman declined to comment further.
JOHN PAULSON, BILLIONAIRE INVESTOR
Paulson is a longtime supporter and fundraiser for Trump, and supported and advised the former president during his 2016 election campaign. Paulson, who has also been mentioned as a possible candidate for Treasury secretary if Trump wins, has cited energy policy and the U.S. trade deficit as key issues. A spokesman for Paulson declined to comment.
PAUL SINGER, FOUNDER OF ELLIOTT INVESTMENT MANAGEMENT
Singer, a major Republican donor, strongly opposed Trump in 2016, arguing that his trade policies would be disastrous, and backed rival Nikki Haley’s bid for the Republican presidential nomination. However, Bloomberg reported last month that Singer met with Trump to discuss donations to his campaign. Singer declined to comment.
TOM STEYER, FINANCIAL MANAGER AND BILLIONAIRE
The billionaire climate activist, who ran for the Democratic nomination in 2020, endorsed Harris at x last month. “I have known Vice President Harris for over 15 years and have watched her stand up for the rule of law, advance real freedom, and deliver very accomplished results.”
Steyer could not be reached for comment.
ALEX AND GEORGE SOROS, INVESTORS
Alex Soros, son of major Democratic donor George Soros, was quick to come out in support of Harris shortly after Joe Biden dropped out of the race, saying on x that it was time to unite around Harris and beat Trump. His father also supports Harris, a spokesperson said.
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