Where Ackman, Dimon and Soros stand on presidential candidates Trump and Harris
Updates with additional backers
WASHINGTON, Sept 27 (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 picking sides. Here's what we know about how some of Wall Street's top bosses are leaning.
BILL ACKMAN, CEO, PERSHING SQUARE CAPITAL MANAGEMENT
Billionaire hedge fund manager Ackman endorsed Trump shortly after the former president was shot in the ear at a rally, a major shift 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 did not explain the reasoning behind his endorsement. Ackman also gave $1 million to Congressman Dean Phillips' long shot primary campaign against President Joe Biden.
A spokesman for Ackman declined to comment.
ROGER ALTMAN, EVERCORE CO-FOUNDER
Speaking to CNBC in July, Democratic donor Altman said he was backing Harris and said both campaigns would have all the money they need. "It won't 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
Silicon Valley venture capitalist Marc Andreessen who has previously voiced support for Democrats including Hillary Clinton told employees in July that he was donating to Trump Political Action Committees based on the former President's tech policies, several outlets reported. A spokesperson for Andreessen declined to comment further.
SCOTT BESSENT, CEO KEY SQUARE CAPITAL MANAGEMENT
Hedge fund manager Bessent is acting as an unofficial adviser to Trump's campaign and is seen as a possible Treasury secretary if Trump wins. Bessent told Bloomberg that he has advised Trump on how to get a grip on U.S. debt. "This election cycle is the last chance for the U.S. to grow our way out of this mountain of debt," he said. A representative for Bessent did not provide comment.
BLACKSTONE BOSSES
Long-time Trump donor and CEO of private equity giant Blackstone BX.N Stephen Schwarzman announced in May that he was supporting Trump. He gave $419,600 to the Trump 47 Committee Political Action Committee (PAC) in May, Federal Election Commission (FEC) records show.
Meanwhile, Blackstone president and Schwarzman's deputy Jonathan Gray, gave $413,000 to the Harris Action Fund PAC, according to a person familiar with the matter.
A Blackstone representative declined to comment.
MARK CUBAN, BILLIONAIRE ENTREPRENEUR
Mark Cuban has thrown his weight behind Harris, praising her tax plan and her support of entrepreneurs. He has also been rallying crypto executives to back and donate to the Vice President. "She is open-minded and realizes that for this country to succeed economically, we have to come back to the center," Cuban told Reuters in an email.
JAMIE DIMON, JPMORGAN CEO
In an unusual move, the Wall Street bank CEO who generally leans Democratic, called in a Washington Post column for the next president to "restore our faith in America" and for the next administration to draw from both political parties. But he stopped short of endorsing either candidate.
A JPMorgan spokesperson declined to comment.
BLAIR EFFRON, CO-FOUNDER, CENTERVIEW PARTNERS
A longtime Democratic backer, Effron is supporting Harris, according to several reports. Effron previously backed Harris when she ran in 2020, praising her "great leadership" and personal qualities in a 2020 interview with Bloomberg.
KEN GRIFFIN, CEO, CITADEL
The hedge fund billionaire and Republican mega-donor who has expressed skepticism about Trump in the past said in May that he had not donated to Trump's election campaign. So far, Griffin is focused on supporting Congressional Republican races, a source familiar with the matter said.
MARC LASRY, CEO, AVENUE CAPITAL GROUP
Lasry, a longtime Democratic fundraiser who supported Harris during her first presidential bid, is backing her again for 2024. Lasry and his wife are planning to host fundraisers for Harris, the Journal reported in August. Representatives for Avenue Capital did not respond to a request for comment.
HOWARD LUTNICK, CEO, CANTOR FITZGERALD
The investment banking chief, who says he has known Trump for decades, has hostedfundraisersfor Trump. As co-chair of Trump's transition team, Lutnick is tapping his Wall Street network to staff a potential second Trump administration. Speaking at aNew York event this month, Lutnick said Trump was focused on economic growth.
LAZARD CEO PETER ORSZAG AND LAZARD PRESIDENT RAY MCGUIRE
The two executives have said that they are both personally supportive of Harris as a candidate. Orszag previously held government roles under the Democratic Clinton and Obama administrations. A spokesperson declined to comment further.
JOHN PAULSON, BILLIONAIRE INVESTOR
Paulson has long been a Trump backer and fundraiser, supporting and advising the former president during his 2016 election campaign. Paulson, who has also been floated as a possible Treasury secretary pick if Trump wins, has cited energy policy and the U.S. trade deficit as key issues.
Speaking to Reuters at the same New York event, Paulson said, "Overall, I think the Trump policies will be far superior to economic growth and the Biden-Harris policies."
PAUL SINGER, FOUNDER, ELLIOTT INVESTMENT MANAGEMENT
A Republican mega-donor, Singer vigorously opposed Trump in 2016 arguing his trade policies would be disastrous and backed Nikki Haley's rival bid for the Republican presidential nomination. However, Bloomberg reported in July thatSinger met with Trump to discuss donating to his campaign. Singer declined to comment.
TOM STEYER, FINANCIER AND BILLIONAIRE
The billionaire climate activist, who ran for the Democratic nomination in 2020, endorsed Harris on X in July. "I've known Vice President Harris for over 15 years and have watched as she defended the rule of law, advanced real freedom, and delivered hard fought results."
Steyer could not be reached for comment.
ALEX AND GEORGE SOROS, INVESTOR
Alex Soros, son of Democratic mega-donor George Soros, quickly came out in support of Harris shortly after Joe Biden exited the race, saying on X it was time to unite around Harris and beat Trump. His father also supports Harris, a spokesperson said.
ARK INVEST CEO CATHIE WOOD
A leading voice in the crypto industry, Wood endorsed Trump in June before Democratic President Biden pulled out of the race.
"I am going to vote for the person who is going to do the best job for our economy ... and on that basis, Trump," she told financial advisor and YouTube personality Kevin Paffrath.
Her backing was seen as helping to cement Trump’s status as the pro-crypto candidate , which has driven crypto money into his campaign. A spokesperson for ARK did not respond to a request for comment on whether Wood had changed her views since Harris became the Democratic candidate.
JEFFREY YASS
Founder of Pennsylvania-based trading firm Susquehanna International and a major investor in TikTok's Chinese owner ByteDance, Yass – along with his wife Janine – is among the top donors in the 2024 US election cycle. Yass has donated more than $70 million to Republican causes so far in the 2024 election cycle, data from political donations tracker OpenSecrets shows.
A libertarian, Yass’ goal is to advance congressional candidates who promote policies that would allow students to move from underperforming schools. Yass does not appear to have donated to Trump, according to FEC records, but has said Trump is the best candidate for school choice.
Compiled by Michelle Price; additional reporting by Svea Herbst-Bayliss, Carolina Mandl, Echo Wang, Nupur Anand, Douglas Gillison and Lananh Nguyen; Editing by Nick Zieminski
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