#steve schwarzman

[lasseling]

Billionaire Blackstone CEO Blasts Biden, Endorses Trump: ‘I’m Planning to Vote for Change’

Steve Schwarzman, CEO and co-founder of private equity and real estate firm Blackstone, slammed Joe Biden’s policies on Friday as he backed presumptive GOP nominee Donald Trump.

[odinsblog]

No one loves Saudi Crown Prince Mohammed bin Salman more than America’s elite. In recent years, we’ve seen leaders, investors, and celebrities hold out a Saudi exception to human rights in the service of a blurry concept of national interests that requires the U.S. to constantly compromise its values in service of an autocrat. And so MBS has been welcomed back into the establishment fold, and he won over Washington. And now he’s taking a victory lap.

When Saudi Arabia convened a 2018 summit in Riyadh, businesspeople shielded their name tags from view, sheepish about seeking MBS’s money just days after journalist Jamal Khashoggi’s murder. But the stigma has apparently worn off, and big names in finance, tech, media, and entertainment showed up at the Miami edition of Davos in the Desert.

The entire conceit of the conference is that Saudi Arabia can be abstracted from MBS, who is hardly ever mentioned yet remains the unspoken force behind the events. The host, the Future Investment Initiative Institute, a mouthful, is essentially the crown prince’s personal think tank. Session after session offered platitudes and ruminations on the least controversial ideas ever—AI is going to change the world! Climate is important! Sports bring people together! The two-day gathering was titled “On the Edge of a New Frontier,” itself a sort of redundant name. (Isn’t a frontier an edge?)

Yasir Al-Rumayyan, governor of a major sovereign wealth fund that’s currently under Senate investigation, led the proceedings. The Public Investment Fund that Al-Rumayyan runs is the conference’s founding partner and powers its lavish events. That Al-Rumayyan has $70 billion in annual investments to dole out is enough to draw out financial titans, curious entrepreneurs, and former Trump officials.

Jared Kushner, who had grown a beard, was talking about his theory of investing, without noting that MBS’s sovereign wealth funds had reportedly contributed $2 billion to his Affinity Partners. Steve Mnuchin, who similarly snared $1 billion of Saudi funds for his Liberty Strategic Capital, wore a suit and dress sneakers and talked about Israel as a tech hub. Mike Pompeo, in a tie, said that U.S. leadership in the world requires a “stability model” that involves working with “like-minded nations,” though “they’re not all going to be democracies.” Little wonder he rushed U.S. arms to Saudi Arabia as secretary of state as part of an end run around Congress.

Doing business with Saudi Arabia has become so normalized that the CEOs of major corporations and investment firms showed up in droves. There was Accenture’s Julie Sweet, Blackstone’s Stephen Schwarzman, and Thiel Capital’s Jack Selby. David Rubenstein—the billionaire who has played host to President Joe Biden at his Nantucket estate—spoke alongside his daughter Gabrielle. (This year, the Biden administration didn’t send an emissary, but the deputy commerce secretary, Donald Graves, attended in 2021.)

Journalists have kept a distance from Saudi Arabia after the dismemberment of Washington Post columnist Khashoggi, but in Miami the moderators included CNN’s Bianna Golodryga, Fox’s Maria Bartiromo, Bloomberg’s Manus Cranny, and The Wall Street Journal’s Gerard Baker.

MBS has especially used boldfaced names to rehabilitate his standing post-Khashoggi, his crackdown on women activists, and the destructive Yemen war. In Miami, there was a fireside chat with failed Senate candidate Dr. Oz. “Saudi Arabia is, I think, doing some wise investing and shifting mindsets by trying to leapfrog, in some cases, where the West is,” Oz said.

For Gwyneth Paltrow, it was just another fun public event. She spoke about how Goop had “built meaning” for its fans, in conversation with entrepreneur Moj Mahdara, a former adviser to Hillary Clinton. It was particularly incongruous when Paltrow discussed bringing more women to the cap table to fight the patriarchy.

Rob Lowe had some advice for Riyadh’s efforts to break into Hollywood and create its own film industry. “My view is there’s no reason that Saudi shouldn’t be the leader in IP in the same way they’re attempting to be the leader in sports and everything else,” Lowe said. “You need to have someone who can communicate: Why Saudi, why now.”

For all of the glitzy stage management and slick social media branding, at many moments there were fewer than 50 people watching the livestream on YouTube. But what mattered more were the opinion leaders, financiers, and tycoons in the room.

Big Tech was there, too, with Google’s Caroline Yap and Dell’s Michael Dell. Nothing was quite as obsequious as last year’s gathering in Miami when Adam Neumann, Marc Andreessen, and Ben Horowitz—all beneficiaries of Saudi Arabia’s financial largesse—gushed about how MBS is like a “founder,” except “you call him, ‘His Royal Highness.’”

(continue reading)

[sztupy]

Mi mást mondana persze.

[ratliffwaller20]

New York City in Minecraft

Fun facts about New York City (NYC to you and me)

1. It has a subway system, and the trains are pretty neat.

2. New York has more people than any other city in the U.S. and over twice as many as London.

3. The Empire State Building is one of the world's tallest buildings, but it is not the tallest building in the U.S. because it does not have a spire.

4. The Statue of Liberty has a bald head because she lost her wig in a storm in 1858.

5. The subway has a map that shows where every station is located on the line.

6. A 'bagel' is actually a round bread, not a bread with a hole in it.

7. The Brooklyn Bridge was built in the late 19th century to help cars, not people.

8. The New York Public Library has two buildings: the Stephen A. Schwarzman Building (for books) and the Rose Reading Room (for people).

9. New York has over 25,000 taxis.

10. New York has at least 12 bridges across its five major waterways.

11. New York's Chinatown is the largest Chinatown outside of Asia.

A short little Minecraft story about New York City

Steve and Alex traveled to New York City to celebrate the New Year.

They had been on a few dates and were getting along great. Alex had been dating Steve for nearly two months now. The night before they were leaving for the trip, they went to dinner together at a nice restaurant. They both enjoyed themselves and drank a lot of wine. When they got back to Steve's apartment, he asked Alex if she wanted to continue their evening. He invited her in for some champagne and to watch a movie.

Alex was really enjoying herself and had a blast with Steve. They watched an old classic that Steve had rented, Casablanca. They both enjoyed the movie and it helped them get to know each other better. As the movie ended, Alex realized that it was late and it was time for her to go.

"Thanks for a great night," she said as they hugged.

"I'm glad you came over."

[1968bullittmustang]

Here's the original 6-23-2024 essay from the NYT

Jeffrey A. Sonnenfeld

Dr. Sonnenfeld is the president of the Yale Chief Executive Leadership Institute.

Recent headlines suggest that our nation’s business leaders are embracing the presidential candidate Donald Trump. His campaign would have you believe that our nation’s top chief executives are returning to support Mr. Trump for president, touting declarations of support from some prominent financiers like Steve Schwarzman and David Sacks.

That is far from the truth. They didn’t flock to him before, and they certainly aren’t flocking to him now. Mr. Trump continues to suffer from the lowest level of corporate support in the history of the Republican Party.

I know this because I work with roughly 1,000 chief executives a year, running a school for them, which I started 35 years ago, and I speak with business leaders almost every day. Our surveys show that 60 to 70 percent of them are registered Republicans.

The reality is that the top corporate leaders working today, like many Americans, aren’t entirely comfortable with either Mr. Trump or President Biden. But they largely like — or at least can tolerate — one of them. They truly fear the other.

If you want the most telling data point on corporate America’s lack of enthusiasm for Mr. Trump, look where they are investing their money. Not a single Fortune 100 chief executive has donated to the candidate so far this year, which indicates a major break from overwhelming business and executive support for Republican presidential candidates dating back over a century, to the days of Taft and stretching through Coolidge and the Bushes, all of whom had dozens of major company heads donating to their campaigns.

Sign up for the Opinion Today newsletter  Get expert analysis of the news and a guide to the big ideas shaping the world every weekday morning.

Mr. Trump secured the White House partly by tapping into the anticorporate, populist messaging of Bernie Sanders, who was then a candidate, a move that Mr. Trump discussed with me when I met him in 2015. The strategy might have won voters but did little to enhance Mr. Trump’s image with the business community. And while a number of chief executives tried to work with Mr. Trump as they would with any incumbent president and many celebrated his move to cut the corporate tax rate, wariness persisted.

Here's an update from Fortune that is really worth the read -

It's under a paywall, but if you have Firefox you can read it in 3 easy steps.

Open the above link in Firefox. (I only use desktop, but it might work on mobile too I don't know)

Click the little icon for Toggle Reader View at the end of the URL address line. (It looks like a tiny piece of paper with writing on it)

Click the reload button, so that the whole story loads.

Many times this will strip out photos and charts, but it didn't seem to this time. This works on almost all paywalls. And if it doesn't work the first time, just wait for a Firefox update, it almost certainly will after that.

Fortune 500 wants nothing to do with fraudster rapist with six bankruptcies shilling bibles in bed with Putin.

[sa7abnews]

The Wall Streeters whispering in Trump's ear

New Post has been published on Sa7ab News

The Wall Streeters whispering in Trump's ear

Trump’s transition team is turning to Wall Street titans like Steve Schwarzman and Kevin Warsh for advice on how to staff the administration.

... read more !

[douxlen]

The Wall Streeters whispering in Trump's ear

New Post has been published on Douxle News

The Wall Streeters whispering in Trump's ear

Trump’s transition team is turning to Wall Street titans like Steve Schwarzman and Kevin Warsh for advice on how to staff the administration.

... read more !

[todddersun]

Us election: After Trump was found guilty in the "hush money" case, billionaires donated money to support

June 4, 2024 In the wake of former President Donald Trump's historic trial and criminal conviction, the Republican Party's super-rich are pouring in donations to support him.

Trump, the Republican candidate for November's election, was found guilty of falsifying business records to cover up a hush payment made to former porn star Stormy Daniels.

While he trails Joe Biden and the Democratic Party in fundraising, the verdict has injected fresh momentum into his campaign - his campaign announced it had raised nearly $53m (£41.6m) in just 24 hours after the verdict.

Miriam Adelson, an Israeli-American gambling magnate, is expected to announce a multimillion-dollar contribution to Trump's campaign this week.

Advertisement

According to US media reports, Adelson will make a donation to a political action committee called Preserve America. Political action committees can provide unlimited financial support to candidates for elected office.

While it is unclear how much she plans to invest, the donation is expected to exceed the $90 million Adelson and her late husband, Sheldon, donated to Protect America ahead of the 2020 election, according to Politico and other US media.

Us election: Can you run for President of the United States from behind bars? Yes, these people have done it Trump's "hush money" criminal case, How will affect the US presidential election? Trump on trial, What are his' 34 SINS '? Us Election 2024: Why is Trump still so popular with Republicans What will happen if Donald Trump is re-elected US President? Trump was ruled "not entitled to presidential immunity" by the courts, so why is this a victory for delaying tactics? Miriam Adelson, left, with Trump. Image credit, Getty Images Image caption Miriam Adelson (left) and Donald Trump. Others may follow suit. In the hours after the verdict last week, a number of billionaires left messages of support for Trump.

Among them was Silicon Valley investor David Sacks, who posted on "X" (formerly Twitter) that "there is only one question in this election now: Will the American people tolerate the United States becoming a banana republic?"

On June 6, Sachs and fellow investor Chamath Palihapitiya are scheduled to host a fundraiser for Trump in San Francisco. Attendees were reportedly asked to contribute up to $300,000.

Another potential donor, hedge fund manager Bill Ackman, is expected to announce his support for Trump on "X" in the coming days.

Ackman said three years ago that Trump "owes all Americans an apology" after riots at the U.S. Capitol, but the financier has since toned down his tone and expressed support for Trump online.

Steve Schwarzman, the chief executive of the Blackstone Group and one of Wall Street's most prominent billionaires, has already announced that he will support Mr. Trump in the general election.

Like Ackman, Schwarzman has previously distanced himself from the former president.

Blackstone CEO Steve Schwarzman endorsed Trump. Image credit, Getty Images The image was captioned with Blackstone CEO Steve Schwarzman endorsing Trump. But in late May, Schwarzman said he shared "the concerns of most Americans that our economy, immigration and foreign policy are taking the country in the wrong direction."

He added, "The sharp rise in anti-Semitism has led me to focus even more urgently on the consequences of the upcoming elections."

Other prominent tycoons who have backed Trump so far include hedge fund founders John Paulson and Robert Mercer, as well as shale gas pioneer Harold Hamm and casino magnate Steve Wynn.

Billionaire investor Nelson Peltz, who said after the U.S. Capitol riot that he regretted voting for Trump in 2020, has now changed his mind and hosted the former president at his Florida waterfront mansion in March.

Elon Musk, on the other hand, has previously said he won't donate to either candidate this election cycle, though he plans to host a live town-hall-style event with Trump.

Similar to Musk, prominent Republican Peter Thiel, a billionaire and tech financier, also reportedly declined a request to donate to the Trump campaign. He is also said to have no plans to make any contributions this election cycle.

Shaun Maguire, a partner at the prominent venture capital firm Sequoia, announced a $300,000 donation to Trump within minutes of last week's ruling, citing an unfair trial.

Maguire published a long piece on X outlining a range of reasons to support Trump, including the Biden administration's handling of the US withdrawal from Afghanistan and "weakness" in the Middle East.

Maguire added that the various legal proceedings against Trump were also "an experience of radicalization."

"There is a real possibility that President Trump could be convicted of a felony and sent to prison." "He wrote. "Frankly, that's part of the reason I support him. I believe our justice system is being weaponized and used against him."

So far, Biden's campaign has largely outpaced Trump in fundraising.

The Biden campaign had a record $192 million in cash on hand at the end of April, compared with $93.1 million for the Trump campaign.

That same month, however, the Trump campaign raised $76 million, surpassing his Democratic rival for the first time this election cycle. The Biden campaign raised $51 million in April, down sharply from more than $90 million a month earlier.

But despite the fundraising frenzy, Prof Justin Buchler, a campaign finance expert at Case Western Reserve University in Ohio, told the BBC: "Money is not the deciding factor."

"The main role of money in a campaign is to raise name recognition. Everyone already knows who Trump and Biden are."

A data analysis by CBS, the BBC's US partner, found that Mr Trump's fundraising tends to get a boost at key moments when he is embroiled in various legal battles.

Before his conviction last week, his best fundraising days were April 4 of last year, the day he was arraigned in New York City, and Aug. 25, when the mug shot he took in Georgia was released.

The BBC has contacted the Trump and Biden campaigns for comment on their fundraising.

[sa7abnews]

40 of the richest donors funneling money to Donald Trump: Elon Musk, Steve Schwarzman, and more

New Post has been published on Sa7ab News

40 of the richest donors funneling money to Donald Trump: Elon Musk, Steve Schwarzman, and more

Former president Donald Trump has gained support from a number of billionaires throughout the campaign.

... read more !

[douxlen]

40 of the richest donors funneling money to Donald Trump: Elon Musk, Steve Schwarzman, and more

New Post has been published on Douxle News

40 of the richest donors funneling money to Donald Trump: Elon Musk, Steve Schwarzman, and more

Former president Donald Trump has gained support from a number of billionaires throughout the campaign.

... read more !

[ddoidbd]

Us election: After Trump was found guilty in the "hush money" case, billionaires donated money to support

June 4, 2024 In the wake of former President Donald Trump's historic trial and criminal conviction, the Republican Party's super-rich are pouring in donations to support him.

Trump, the Republican candidate for November's election, was found guilty of falsifying business records to cover up a hush payment made to former porn star Stormy Daniels.

While he trails Joe Biden and the Democratic Party in fundraising, the verdict has injected fresh momentum into his campaign - his campaign announced it had raised nearly $53m (£41.6m) in just 24 hours after the verdict.

Miriam Adelson, an Israeli-American gambling magnate, is expected to announce a multimillion-dollar contribution to Trump's campaign this week.

Advertisement

According to US media reports, Adelson will make a donation to a political action committee called Preserve America. Political action committees can provide unlimited financial support to candidates for elected office.

While it is unclear how much she plans to invest, the donation is expected to exceed the $90 million Adelson and her late husband, Sheldon, donated to Protect America ahead of the 2020 election, according to Politico and other US media.

Us election: Can you run for President of the United States from behind bars? Yes, these people have done it Trump's "hush money" criminal case, How will affect the US presidential election? Trump on trial, What are his' 34 SINS '? Us Election 2024: Why is Trump still so popular with Republicans What will happen if Donald Trump is re-elected US President? Trump was ruled "not entitled to presidential immunity" by the courts, so why is this a victory for delaying tactics? Miriam Adelson, left, with Trump. Image credit, Getty Images Image caption Miriam Adelson (left) and Donald Trump. Others may follow suit. In the hours after the verdict last week, a number of billionaires left messages of support for Trump.

Among them was Silicon Valley investor David Sacks, who posted on "X" (formerly Twitter) that "there is only one question in this election now: Will the American people tolerate the United States becoming a banana republic?"

On June 6, Sachs and fellow investor Chamath Palihapitiya are scheduled to host a fundraiser for Trump in San Francisco. Attendees were reportedly asked to contribute up to $300,000.

Another potential donor, hedge fund manager Bill Ackman, is expected to announce his support for Trump on "X" in the coming days.

Ackman said three years ago that Trump "owes all Americans an apology" after riots at the U.S. Capitol, but the financier has since toned down his tone and expressed support for Trump online.

Steve Schwarzman, the chief executive of the Blackstone Group and one of Wall Street's most prominent billionaires, has already announced that he will support Mr. Trump in the general election.

Like Ackman, Schwarzman has previously distanced himself from the former president.

Blackstone CEO Steve Schwarzman endorsed Trump. Image credit, Getty Images The image was captioned with Blackstone CEO Steve Schwarzman endorsing Trump. But in late May, Schwarzman said he shared "the concerns of most Americans that our economy, immigration and foreign policy are taking the country in the wrong direction."

He added, "The sharp rise in anti-Semitism has led me to focus even more urgently on the consequences of the upcoming elections."

Other prominent tycoons who have backed Trump so far include hedge fund founders John Paulson and Robert Mercer, as well as shale gas pioneer Harold Hamm and casino magnate Steve Wynn.

Billionaire investor Nelson Peltz, who said after the U.S. Capitol riot that he regretted voting for Trump in 2020, has now changed his mind and hosted the former president at his Florida waterfront mansion in March.

Elon Musk, on the other hand, has previously said he won't donate to either candidate this election cycle, though he plans to host a live town-hall-style event with Trump.

Similar to Musk, prominent Republican Peter Thiel, a billionaire and tech financier, also reportedly declined a request to donate to the Trump campaign. He is also said to have no plans to make any contributions this election cycle.

Shaun Maguire, a partner at the prominent venture capital firm Sequoia, announced a $300,000 donation to Trump within minutes of last week's ruling, citing an unfair trial.

Maguire published a long piece on X outlining a range of reasons to support Trump, including the Biden administration's handling of the US withdrawal from Afghanistan and "weakness" in the Middle East.

Maguire added that the various legal proceedings against Trump were also "an experience of radicalization."

"There is a real possibility that President Trump could be convicted of a felony and sent to prison." "He wrote. "Frankly, that's part of the reason I support him. I believe our justice system is being weaponized and used against him."

So far, Biden's campaign has largely outpaced Trump in fundraising.

The Biden campaign had a record $192 million in cash on hand at the end of April, compared with $93.1 million for the Trump campaign.

That same month, however, the Trump campaign raised $76 million, surpassing his Democratic rival for the first time this election cycle. The Biden campaign raised $51 million in April, down sharply from more than $90 million a month earlier.

But despite the fundraising frenzy, Prof Justin Buchler, a campaign finance expert at Case Western Reserve University in Ohio, told the BBC: "Money is not the deciding factor."

"The main role of money in a campaign is to raise name recognition. Everyone already knows who Trump and Biden are."

A data analysis by CBS, the BBC's US partner, found that Mr Trump's fundraising tends to get a boost at key moments when he is embroiled in various legal battles.

Before his conviction last week, his best fundraising days were April 4 of last year, the day he was arraigned in New York City, and Aug. 25, when the mug shot he took in Georgia was released.

The BBC has contacted the Trump and Biden campaigns for comment on their fundraising.