📷 Image Credits: Moneycontrol
In a surprising turn of events, despite being found guilty in a hush-money case, Donald Trump is still receiving strong support from wealthy financiers in the finance industry. A recent fundraiser held at the sumptuous Pierre hotel on Fifth Avenue showcased this unwavering support for the former president, with prominent figures from US business and finance standing by him, emphasizing the importance of his tax and deregulation promises.
The event, organized by billionaire Howard Lutnick, saw top Wall Street personalities rallying behind Trump, even as his trial unfolded in downtown Manhattan. The guilty verdict, delivered after an extraordinary seven-week-long trial involving the falsification of business records to conceal a hush-money payment to a porn star, hasn’t deterred these supporters. Instead, they view Trump’s legal battles as a rallying point, with many already pledging their backing for his candidacy in the upcoming election.
The shift in support from some of the nation’s financial leaders towards Trump reflects a changing dynamic in American finance, especially in monied Manhattan, where Trump’s promises on taxes and regulation continue to resonate with executives. Despite the legal cloud hanging over him, Trump’s financial backers remain unwavering, driven in part by their belief in his economic policies and potential benefits for the wealthy.
The timing of this support couldn’t be more crucial, with the election just months away. While Trump’s conviction could potentially end the career of any other presidential nominee, his backers, including those from Wall Street, refuse to abandon him. In fact, his campaign has seen a surge in fundraising efforts following the guilty verdict, with Trump positioning himself as a ‘political prisoner’ fighting against perceived injustices.
Even prominent figures like Jamie Dimon of JPMorgan Chase, who previously criticized Trump, have adopted a more nuanced approach, emphasizing the need to respect the millions who voted for him. This evolving stance underscores a broader sentiment among some in the financial community, who question the dissatisfaction with the current administration despite economic prosperity achieved under Biden’s presidency.
Overall, the steadfast support for Trump from the finance industry’s elite raises questions about the intersection of wealth, politics, and power in America’s electoral landscape. As the race for the White House enters its final stretch, the impact of this support on the outcome of the election remains to be seen, with financial interests playing a prominent role in shaping the political landscape.
