During the Donald Trump (Republican) and Joe Biden (Democrat) election process, Wall Street expensed approximately 3 Billion Dollars on political campaign donations and lobbying (Americans For Financial Reform Report 2021). Blackstone Group, a leading investment management company run by CEO Steven Schwarzman, contributed over $33 million to America’s 2020 elections.
Why Is Wall Street Investing More Into Politics and Governance?
Wall Street’s increased investments into politics comes at no surprise as the industry has always been bullish with staying on top. They require solid support from legislators to keep the industry heavily profitable with low taxes and favorable policies. They also require alliances with the national government in achieving many growth goals. Money speaks as Wall Street continues to utilize it to retain influence and grow global.