Two Rhode Island Billionaires Make Bloomberg’s List of Top Presidential Donors

Two Rhode Island Billionaires Make Bloomberg’s List of Top Presidential Donors

“The Billionaire Backers” published in Bloomberg this week breaks down America’s richest people who are donating to candidates in the 2024 presidential race.

And two Rhode Island residents make the list. 

Bloomberg writes, “We compiled a list of the richest Americans who’ve supported one of the presidential candidates, either in word or in deed. Using Federal Election Commission data as of August, we looked at members of the Bloomberg Billionaires Index who’ve donated to the Harris or Trump campaigns (our methodology is explained at the bottom of this story). We also added high-profile members of the index like Elon Musk and Bill Ackman who don’t show up in the FEC data but have endorsed one of the candidates.”

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According to Bloomberg, billionaires break towards Donald Trump.

In Rhode Island, two billionaires made the list, and they split their allegiance.

 

Trump Mega Donor

Newport summer resident and billionaire Stephen Schwarzman, the CEO of Blackstone Group, is the head of the investment group that recently laid off 200 Rhode Islanders.

GoLocal exclusively reported last month that a fundraiser for Donald Trump was scheduled to be held at Schwarzman's Newport mansion. According to a spokesperson for Schwarzman, that event did not happen. He claimed no event was being planned.

Schwarzman’s firm owns Ennovi Advanced Mobility Solutions Rhode Island Inc. — which announced just a few weeks ago the closure of its East Providence facility and the layoff of 205 employees.

Schwarzman owns the Newport mansion "Miramar," and according to Forbes, is worth $40 billion. His website touts that his firm manages a trillion dollars.

Bloomberg says Schwarzman gave $419,600 to the Trump 47 Committee.

 

Harris’ Benefit Street Billionaire

Then, there is a Providence-based billionaire.

RISD grad and Benefit Street resident Joe Gebbia is a supporter of Kamala Harris.

He made his money as one of the founders of Airbnb and has a reported net worth of $7.4 billion.