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Wall Street tycoon Stephen Schwarzman reverses course and backs Trump

Billionaire investor, who had turned his back on former president, says he will donate to Republican contender’s 2024 campaign

The billionaire private equity tycoon Stephen Schwarzman, a former ally of Donald Trump who turned his back on the ex-president, has decided to support him in the 2024 race for the White House.

Schwarzman, widely seen as one of the most powerful men on Wall Street, defected from Trump less than two years ago, when he declared that the time had come for a new generation of leaders to take over the Republican party.

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