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IN ABOUT-FACE, WALL STREET’S BIG DONORS WARM TO TRUMP

They may “hate the man,” as one put it, but major business players from coast to
coast are increasingly on board for a second term after the first one alienated
them.

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Kenneth Griffin, the Citadel founder, who once publicly called former President
Donald J. Trump a “three-time loser,” said he was giving “serious consideration”
to supporting his re-election bid.Credit...David Swanson/Reuters

By Rob Copeland

Rob Copeland, a finance reporter, spoke to political donors across Wall Street
and Silicon Valley for this article.

May 15, 2024, 11:31 a.m. ET
Sign up for the Trump on Trial newsletter.  The latest news and analysis on the
trials of Donald Trump in New York, Florida, Georgia and Washington, D.C. Get it
sent to your inbox.

When President Donald J. Trump left office, some of Wall Street’s biggest names,
who had taken to him during his first term in the White House, swore they were
moving on from him for good. They were fatigued by his leadership style,
disappointed by some of his policies and shocked by the U.S. Capitol riot. Some
of them even savaged him publicly.

Their stated distaste didn’t last. With Mr. Trump leading in the polls, big
financiers on Wall Street, in Silicon Valley and elsewhere are edging into his
corner, according to interviews with more than a dozen people who sought
anonymity because they didn’t want their personal views to be tied to their
employers.

The motivations are manifold. In many instances, it’s less that they’re
enthusiastic about Mr. Trump — “I still hate the man,” one hedge fund
billionaire said — and more that they’re exasperated with the economic and
immigration policies of President Biden. In other cases, the willingness to
support a return of Mr. Trump reflects a growing dissatisfaction with what many
big Wall Street donors see as the White House’s hardening stance against Israel
in its war on Gaza.

A prominent example of the about-face is Kenneth Griffin, a hedge fund magnate
and political megadonor who publicly derided Mr. Trump as a “three-time loser”
less than two years ago. In recent weeks, the Citadel founder has been in
communication with the former president’s campaign about potentially making a
major donation, which would amount to millions of dollars.



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Asked by The New York Times if he would support Mr. Trump for the first time in
2024, Mr. Griffin said: “It’s a question I’m giving serious consideration to.”

In an interview with Bloomberg News on Tuesday, Mr. Griffin said Mr. Trump “will
exude a level of strength” that would help settle foreign policy issues, among
others.

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Rob Copeland is a finance reporter, writing about Wall Street and the banking
industry. More about Rob Copeland

See more on: 2024 Elections, Marc Andreessen, President Joe Biden, Jamie Dimon,
Donald Trump
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