The investor is Trump’s neighbor in Palm Beach, and had earlier supported him in 2020.
Billionaire activist investor Nelson Peltz plans to vote for former President Donald Trump in the 2024 presidential race, citing President Joe Biden’s mental condition and immigration policies.
“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.” Furthermore, Mr. Peltz expressed his concern regarding the porous U.S. southern border, which has turned into a hot-button issue for both Republicans and Democrats in 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,” said Mr. Peltz. He 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. Former President Donald Trump said at a recent rally that one of the first things he would do once elected would be to end every single “open border policy of the Biden administration.”
“That border was a tiny fraction of what this border is,” President 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 is the founder of Trian Fund Management, an investment management firm with offices in New York and Florida. According to Forbes, the firm has $8.5 billion in assets under management, with Mr. Peltz currently worth around $1.7 billion.
The billionaire is among President Trump’s neighbors in Palm Beach but has not spoken to the former president “in quite a while,” reported FT.
Regarding President Biden’s mental acuity, “I don’t know what he knows and I don’t know what he doesn’t know.” said Mr. Peltz. “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.
Mr. Peltz has been involved with activist investments for some time. In 2017, he fought and won a seat on the executive board of consumer goods conglomerate Proctor and Gamble. Currently, his focus is on Disney.
