Billionaire activist investor Nelson Peltz has announced his intention to support former President Donald Trump in the upcoming 2024 presidential race. Peltz cited concerns over President Joe Biden’s mental condition and immigration policies as key factors influencing his decision.
“It will probably be Trump and I’m not happy about that,” he told the Financial Times in an interview, adding that Biden’s “mental condition is really scary.”
Moreover, Mr. Peltz voiced his concern about the porous U.S. southern border, a contentious topic for both Republicans and Democrats during the election season.
“We can’t go on letting everyone into this country . . . We have an immigration problem—it’s not a Republican or Democrat problem,” he said.
Mr. Peltz expressed opposition to stopping immigration altogether but “I want some boundaries put on it so we know at least who we’re bringing in,” he said, according to the outlet.
Illegal immigration has been a thorn in the side of Democrats, with the Biden administration’s policies being criticized for the massive amounts of inflows across the southern border.
At a recent rally, former President Donald Trump stated that one of his top priorities, if reelected, would be to abolish every “open border policy of the Biden administration.”
“That border was a tiny fraction of what this border is,” Trump said. “This is the worst border in the history of the world.”
Since President Joe Biden took office, there have been an estimated 10 million illegal immigrants who have crossed the border.
Mr. Peltz, founder of Trian Fund Management, operates an investment management firm headquartered in New York and Florida. Forbes reports that the firm oversees $8.5 billion in assets, while Mr. Peltz himself boasts a net worth of approximately $1.7 billion.
The billionaire resides near President Trump in Palm Beach but hasn’t had contact with the former president “for quite some time,” according to reports from the Financial Times.
Regarding President Biden’s mental acuity, “I don’t know what he knows and I don’t know what he doesn’t know.” Mr. Peltz said. “I don’t know who’s speaking for him and that’s troubling.”
It is not clear whether he will donate to President Trump’s campaign.
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