Wall Street, hedge fund billionaires warming up to Donald Trump

Wall Street is warming up to Donald Trump
(Image credit: Ron Jenkins/Getty Images)

Donald Trump has hit a bit of a rough patch politically, so it's good news for him that as leaders in his own Republican Party are keeping him at arm's length, a powerful group that was once antagonistic toward Trump seems to be coming around to his side. Next Tuesday, Trump and the Republican National Committee are holding a joint $50,000-per-plate fundraising dinner in New York City, with hosts paying $250,000, according to an invitation seen by The New York Times. Attending, The Times says, will be "a who’s who of the financial world," including hedge fund billionaires and real estate magnates.

Anthony Scaramucci, a hedge fund executive, tells The Times that he expects 50 or 60 people to attend the dinner, and that Wall Street's resistance to Trump seems to be fading. When it comes to backing Trump, "there are a lot of people saying 'maybe' and 'I'm considering it,'" he said. Trump has previously said that hedge fund managers "get away with murder" by paying themselves so much, and proposed scrapping the carried-interest loophole that allows them to pay much lower taxes. You can read about some of the rich and secretive attending next week's Trump fundraiser at The New York Times.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.