That's because the major candidates — former President Donald Trump and Vice President Kamala Harris — are on opposite ends of the spectrum on many fundamental issues. The outcome, therefore, could have far-reaching consequences on people's lives and the economy, Richard Haass, a former president of the Council on Foreign Relations, said.
"This is one of those rare elections where the differences probably outweigh the similarities, and that's why it's such a consequential election here at home for American democracy and also in the world for American foreign policy," Haass, a senior counselor to the investment bank Centerview Partners, said in a recent conversation with Goldman Sachs titled "2024: The year of elections."
Who wins could also have major implications on the business of Wall Street, from mergers and acquisitions to trading and tax policy. It should come as no surprise, therefore, that finance-industry billionaires, from hedge funds to investment banks, are seeking to sway the results by contributing money to the campaigns of their choice.
To see where Wall Street's top leaders stand ahead of the November 5 elections, Business Insider scoured the Federal Election Commission website for individual donations from financial industry leaders between 2023 and August. The data showed sizable donations across investment banking, private equity, and hedge funds, including Blackstone, Evercore, and DE Shaw.
BI, however, found zero donations to either candidate from the heads of large, publicly traded investment banks, including Goldman Sachs, JPMorgan Chase, Citi, Bank of America, and Morgan Stanley.
BI's FEC data search may not include some more recent donations because the agency can require several weeks to upload new data. Also, donations made to Harris' campaign before July represent donations to President Joe Biden's reelection campaign that were rolled over to Harris after Biden dropped out of the race. We will update this list when new data becomes available.
See below to find which Wall Street tycoons are voting for which candidate in 2024 presidential election, in alphabetical order:
Roger Altman
Roger Altman.Bloomberg TV
Title: Founder and senior chair of the investment bank Evercore
What he has said: Altman, who worked for the US Treasury under the Carter and Clinton administrations, told CNBC in July that he supported Harris.
Donations: In March, Altman donated $100,000 to what is now the Harris Action Fund. Last year, he also donated $81,600 to Biden's campaign via various funds that have since been rolled over to Harris.
Scott Bessent
Scott Bessent.Drew Angerer/Getty Images
Title: Founder of macro hedge fund Key Square Capital.
What he has said: The former chief investment officer for Soros Fund Management has been an outspoken Trump supporter, attending and speaking at rallies. His name has been floated for such Cabinet positions as Treasury Secretary should Trump win the election.
Donations: His donations to Trump this year included $350,000 to the Trump 47 Committee, $3,300 in August to Donald J. Trump for President 2024, and $100,000 to Right for America.
Blair Effron
Blair Effron.Dia Dipasupil
Title: Partner and cofounder of Centerview Partners
What he has said: A supporter of Harris during her 2020 presidential run, Effron has praised her leadership and called her the right candidate for the 21st century.
Donations: Effron has increased his contributions since Harris announced her campaign in July, including $50,000 to the Harris Victory Fund in September and $100,000 to the Harris Victory Fund at the end of July.
Jon Gray
Jon Gray.Drew Angerer/Staff/Getty Images
Title: Blackstone's president and chief operating officer
What he has said: Gray, a former Biden fundraiser, donated to Harris' campaign after Biden dropped out of the race in July.
Donations: Gray donated $413,000 to the Harris Action Fund at the end of July after she announced her campaign, fund filings show. He has also made several donations to Biden's campaign via funds that have since been transferred to Harris, including $50,000 in 2023 to what is now the Harris Action Fund and $6,600 via two donations of $3,300 to what is now Harris for President.
Ken Griffin
Ken Griffin.Michael Kovac
Title: CEO and founder of the hedge fund Citadel and founder of the market maker Citadel Securities
What he has said: Griffin recently said he had problems with both Trump and Harris. He said neither candidate will "receive an award for the quality of their policies," adding, "I know who I'm going to vote for, but it's not with a smile on my face."
Donations: He has given $0 to the campaigns of Trump or Harris since 2023, according to the FEC's website.
Bruce Karsh
Bruce Karsh.Noah Graham/Getty Images for Eat. Learn. Play.
Title: Co-chairman and co-founder of alternative asset manager Oaktree, which manages over $200 billion in assets.
What he has said: In 2020, Karsh told The Washington Post that he and his wife Martha were concerned about the state of democracy when Donald Trump refused to accept defeat in 2020.
Donations: He has donated to Joe Biden's reelection campaign, funds that have since been rolled over to Kamala Harris' campaign. Donations include $250,000 in May to what is now the Harris Action Fund and $6,600 in May to what is now Harris for President.
Seth Klarman
Seth Klarman at Silicon Valley.Scott Olson/Getty Images
Title: CEO and portfolio manager of Baupost, a hedge fund with upward of $25 billion in assets.
What he has said: In 2017, he wrote a letter to investors critical of Donald Trump's economic policies and leadership style. He donated generously to Biden's reelection campaign, funds that have since been rolled over to the Harris campaign.
Donations: He has donated hundreds of thousands to Biden campaign funds that have since rolled over to Harris, including $300,000 to what is now the Harris Action Fund in June and March of this year.
Marc Lasry
Marc Lasry.Aurelien Meunier// Getty Images
Title: Chair, CEO, and cofounder of the hedge fund Avenue Capital
What he has said: Lasry was a fundraiser for Harris during her 2020 presidential run.
Donations: Since Harris announced her presidential run in July, Lasry has made two $6,600 donations to the Harris Victory Fund, followed by $100 in September. Lasry also made several donations to Biden campaign funds that have since been rolled over to Harris, including $100,000 in March to what is now the Harris Action Fund.
Howard Lutnick
Howard Lutnick.ANGELA WEISS / AFP
Title: Chair and CEO of the financial-services firm Cantor Fitzgerald
What he has said: Lutnick, a Trump fundraiser, has applauded the former president on the social-media platform X, citing his "supportive stance on #Bitcoin" and calling Trump "a great friend and a great man." He is cochair of the Trump-Vance transition team.
Donations: In April, Lutnick donated $413,000 to the Trump 47 Committee.
Omeed Malik
Omeed Malik.John Lamparski
Title: Founder and CEO of the merchant bank Farvahar Partners
What he has said: Omeed has cited Trump's economic policies and what he says is the weaponization of the rule of law on the left.
Donations: In March, Malik contributed $6,600 to Donald J. Trump for President 2024 via two $3,300 donations. He contributed $31,600 to the Trump 47 Committee across two donations this year.
Peter May
Title: Trian Fund Management's president and founding partner
What he has said: May appears to have let his money do the talking.
Donations: In June, May donated $25,000 to what is now the Harris Victory Fund and $6,600 through two $3,300 donations to what is now Harris for President.
Robert Mercer
Robert Mercer.Oliver Contreras/Getty Images
Title: Former CEO of the hedge fund Renaissance Technologies
What he has said: Mercer was a big supporter of Trump in 2016 and reportedly played a role in getting Steve Bannon, the former head of Breitbart News, which Mercer partly owned, into the Trump White House.
Donations: In March, Mercer donated $814,399 to the Trump 47 Committee and $6,600 to Donald J. Trump for President 2024 via two $3,300 donations.
John Paulson
John Paulson attending a Trump speech in New York in 2019.Spencer Platt/Getty Images
Title: Founder of Paulson & Co., a hedge fund turned family office
What he has said: Paulson has said he supports Trump's policies on energy, border security, and trade. He has held a number of fundraisers for Trump, and the former president has floated his name for secretary of the Treasury.
Donations: Paulson has made numerous donations to Trump PACs over the years, including $806,300 to the Trump 47 Committee in March and $3,300 to Donald J. Trump for President 2024 in August.
Nelson Peltz
Nelson Peltz.Reuters
Title: Founding partner of the hedge fund Trian Partners
What he has said: Peltz disavowed Trump after the January 6, 2021, riots at the US Capitol but told The Financial Times in March that he would probably vote for him again, citing Biden's fitness for office.
Donations: He has given $0 to the campaigns of Trump or Harris since 2023, according to the FEC's website.
Peter Orszag
Peter Orszag.courtesy of Lazard
Title: CEO of the investment bank Lazard
What he has said: Orszag, who was a director of the US Office of Management and Budget under President Barack Obama, told CNBC in July that he supported Harris.
Donations: Orszag has made numerous donations to Biden funds that have since been rolled over to Harris, including a $100,000 donation in June to what is now the Harris Victory Fund and $6,600 to what is now Harris for President.
Steve Schwarzman
Steve Schwarzman.REUTERS/Brendan McDermid
Title: Chair and cofounder of the private-equity giant Blackstone
Donations: In May, Schwarzman donated $419,600 to the Trump 47 Committee and $6,600 to Donald J. Trump for President 2024 via two $3,300 donations.
David Shaw
David Shaw.YouTube
Title: Founder of hedge fund DE Shaw
What he has said: Shaw has served on the President's Council of Advisors on Science and Technology for both Bill Clinton and Barack Obama.
Donations: Shaw made several donations to Biden in 2023 that have since rolled to Harris, including $295,700 to what is now the Harris Action Fund and $6,600 to what is now Harris for President.
Paul Singer
Paul Singer.CNBC / Getty Contributor
Title: Elliott Management's founder, president, co-CEO, and co-chief investment officer
What he has said: Singer was a big donor to Trump's rival Haley and has criticized Trump's trade policy, but he reportedly met with Trump over the summer to discuss a donation.
Donations: In June, Singer donated $419,600 to the Trump 47 Committee and $6,600 to Donald J. Trump for President 2024.
Joan Solotar
Joan Solotar.Blackstone
Title: Blackstone's global head of private-wealth solutions.
What she has said: Solotar appears to have let her money do the talking.
Donations: She has made several donations to Biden that have since been rolled over to Harris, including $25,000 in May to what is now the Harris Action Fund and $6,600 through two donations of $3,300 to what is now Harris for President.
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