NHL's Carolina Hurricanes owner Tom Dundon said billionaire donors are throwing support behind former President Donald Trump this November because it was "hard to support nonsense" pushed by President Joe Biden's policies.
Earlier this week, a POLITICO report highlighted several Wall Street executives who previously expressed contempt for the former president, though have signaled support for Trump this election cycle, including Point Bridge Capital founder Hal Lambert, Blackstone Group CEO Stephen Schwarzman, hedge fund billionaire Bill Ackman and Citadel's Ken Griffin.
Dundon commented on the phenomenon during a Wednesday morning appearance on Fox & Friends.
"Historically, some of the way Trump treats people doesn't sit well with them when you have choices, but there's really not many choices anymore," Dundon said, noting Trump was more "pro-business" than his incumbent opponent. "Some of the things have gotten to where it's hard to support nonsense."
When asked about challenges pursuing success in the current economic climate, Dundon cited challenges with regulation, adding fears of cancel culture were "hard" obstacles to overcome.
Lambert, an investor and Republican donor who initially supported Florida Gov. Ron DeSantis' bid for higher office, said he didn't think anyone sincerely believed Trump was a "threat to democracy," per POLITICO.
Lambert compared the controversy surrounding Trump's alleged involvement in the Capitol riot on Jan. 6, 2021 to the infamous leaked Access Hollywood recording from 2016, which many believed would lead to Trump's downfall during his initial run for the presidency.
“They assumed this was the end of his political support in this country. Which has happened time, and time, and time again,” Lambert said.
Billionaire New York radio station owner and real estate investor John Catsimatidis also indicated Trump was a "much better choice" than Biden.
"Just check out the four years that Trump was in office versus the three years that President Biden was in office," Catsimatidis said, citing lower gas and food prices under Trump's administation along with ease of conducting business and financing second homes.
“I remember I got a mortgage on one of my homes I bought in the suburbs for 2.75 percent,” Catsimatidis said. "It's horrible what's going on."
Biden campaign spokesperson Ammar Moussa discussed the phenomenon of donors flipping for Trump as a selfish decision.
“Donald Trump is a self-obsessed convicted felon who would do anything to regain power — and if he does, has made clear he intends to rule as a dictator on day one,” Moussa said. “But for some billionaires none of that matters. They’ll prop up a convicted white-collar crook so long as Trump slashes their taxes.”
Trump campaign press secretary Karoline Leavitt cited donors flocking to Trump in response to Biden's weakness and dishonesty.
“Donors big and small are coming to the table to support President Trump because they realize Joe Biden is weak and dishonest, and America cannot afford four more years of his failed policies,” Leavitt said in a statement.
