Blackstone's Steve Schwarzman backs Trump

Stephen A. Schwarzman — chairman, CEO and co-founder of Blackstone, the private equity and real estate giant — tells Axios he will support Donald Trump as a "vote for change."

Schwarzman said Friday that he plans to donate to Trump and various Republican Senate candidates.

Why it matters: The endorsement gives Trump access to a potent network of Republican donors Schwarzman has cultivated. Trump also could get a new look from some business leaders who have been reluctant to back him.

Schwarzman, a billionaire and lifelong moderate Republican, was one of Trump's most visible business supporters when he was in the White House.

But ahead of this year's GOP primaries, Schwarzman called for "a new generation of leaders." Schwarzman wound up not backing a primary candidate.

Axios is told Schwarzman's concern about rising antisemitism sped his decision to re-embrace Trump, along with concerns about President Biden's policies.