Billionaire activist investor Nelson Peltz has announced his intention to cast his vote for former President Donald Trump in the upcoming 2024 presidential race. Peltz cited concerns over President Joe Biden’s mental condition and immigration policies as primary factors influencing his decision.
In an interview with the Financial Times, Peltz expressed his reservations, “It will probably be Trump, and I’m not happy about that,” highlighting his unease regarding Biden’s mental state.
He emphasized the urgency of addressing the porous U.S. southern border, a contentious issue that has stirred debate among Republicans and Democrats alike during the election season.
Billionaire Investor, Nelson Peltz (Credits: CNBC)
“We can’t go on letting everyone into this country… We have an immigration problem—it’s not a Republican or Democrat problem,” Peltz asserted, advocating for the implementation of boundaries to regulate immigration flows.
While opposing a complete halt to immigration, he stressed the importance of knowing the identities of incoming individuals. The Biden administration’s handling of illegal immigration has faced criticism, with policies contributing to significant inflows across the southern border.
Former President Trump, speaking at a recent rally, pledged to reverse what he termed as the Biden administration’s “open border policy” upon re-election, denouncing the current state of the border as unprecedentedly dire.
Billionaire Investor Nelson Peltz (Credits: CNBC)
Peltz, the founder of Trian Fund Management, a prominent investment management firm based in New York and Florida, has a significant influence. With assets under management totaling $8.5 billion, Forbes estimates his wealth at approximately $1.7 billion.
While residing near President Trump in Palm Beach, Peltz disclosed that he has not spoken with the former president “in quite a while,” as reported by FT.
Peltz expressed uncertainty regarding President Biden’s cognitive abilities and described his concern about who speaks for the president as troubling.
Peltz’s history of activist investments includes securing a seat on the executive board of consumer goods conglomerate Proctor and Gamble in 2017 after a contentious battle.
His attention is currently focused on Disney, demonstrating his ongoing engagement in shaping corporate governance and strategy. However, whether he will contribute financially to President Trump’s campaign remains unclear.
