President Donald Trump has lost the financial support of at least four billionaires who made six-figure gifts to his campaign in 2016.
One of Trump’s billionaire backers publicly denounced him in a 2017 op-ed.
While a handful of Trump’s 2016 donors have jumped ship, he’s also gained plenty of new ones: Most of his 2020 billionaire backers are first-time supporters.
Visit Business Insider’s homepage for more stories.
President Trump isn’t just lagging in the national polls ahead of the November presidential election — he’s tailing in Business Insider’s analysis of the three comma club, too.
Not only does Trump have fewer billionaire donors overall than his opponent Joe Biden, he also lost the financial support of a handful of his 2016 donors. Despite having given upwards of six figures to Trump’s first presidential bid, at least four of Trump’s donors have yet to donate to Trump’s reelection bid for varying reasons.
And notably, billionaire Peter Thiel, who was one of Trump’s biggest backers in 2016, has not donated so far in 2020. (The Daily Beast reports that, according to Federal Election Commission data, Thiel last gave to Trump’s reelection campaign in 2018.)
Not all of Trump’s billionaire backers jumped ship after 2016, however. Several of his largest donors — such as Las Vegas Sands CEO Sheldon Adelson, Texas banker Andrew Beal, and hedge-fund manager John Paulson — have made additional gifts.
The president also added dozens of new billionaires to his campaign roster for his reelection bid, including Blackstone CEO Stephen Schwarzman, Business Insider previously reported.
Keep reading to learn more about Trump’s one-time billionaire backers who aren’t supporting his 2020 campaign, listed in no particular order.
SEE ALSO: Meet the billionaires bankrolling Trump’s 2020 campaign
DON’T MISS: Meet the billionaire Trump megadonors who have founded some of America’s biggest chains, from Home Depot to Ashley Furniture
Hyatt hotel heiress Colonel Jennifer Pritzker abandoned the President in 2017, calling his transgender military ban a “huge step backwards.”
Pritzker, a 69-year-old retired Army lieutenant colonel who is hailed as the first transgender billionaire, is one of 11 heirs to the Hyatt hotel fortune.
Pritzker donated $250,000 to the Trump Victory fundraising committee in 2016, before publicly condemning the president’s ban on transgender people in the military in a 2017 op-ed in the Chicago Sun-Times.
“I can’t express enough how strongly I disagree with Trump’s statement,” Pritzker wrote. “As commander in chief, the president has authority to influence policy over who serves in the Armed Forces of the United States. What he says will help shape the opinion of millions of other Americans. He holds great responsibility, and directly contradicting what we know about transgender personnel serving in the Armed Forces is extremely irresponsible of him.”
Pritzker later donated $1,000 to Pete Buttigieg’s now-defunct presidential bid, per Forbes.
Pritzker now owns and operates a wealth management firm and has a $1.8 billion net worth, derived mostly from her stake in Hyatt, according to Forbes.
Several of Pritzker’s cousins, including President Obama’s …read more
Source:: Business Insider