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To Mr. Schwarzman, the notion seemed absurd. “It’s been a tough time,” he said, according to a participant who shared details of a transcript of the call. Media coverage and polls have misled people, Schwarzman said, and as a result “people are generally skeptical of what anyone tells them.” He argued that the vote count, which continued for days after the election, created a perception problem, especially in places where Mr. Trump appeared to have an early victory only for a Biden victory to be declared later. . His comments did not suit some participants.
“We knew 100% in advance that this was exactly what would happen in a place like Pennsylvania,” replied Richard H. Pildes, a constitutional law expert, according to the participant who had the transcript. Kenneth Frazier, chief executive of Merck, added that Mr. Trump’s actions undermined democracy and should be of great concern, participants recalled.
After Mr Schwarzman’s comments leaked to the Financial Times, some Blackstone investors began asking questions, according to employees briefed on the calls. Staff at the pension funds, which invest with Blackstone, had previously told company officials they wanted Mr Schwarzman to stay out of politics. Now one boarding house wanted to know more about what he told other executives and why, and another complained about not liking what they were reading, two Blackstone employees said.
Even though he found himself trapped in controversy, Mr Schwarzman refused to criticize the president. It took him until November 16 – more than a week after the election was called by the networks – to recognize the victory at an economic forum. (“Sounds like Joe Biden,” he says.)
As Mr. Trump refused to concede, Mr. Schwarzman refused to sign a November 23 letter in which more than 160 CEOs demanded a transition of power. Instead, he released his own statement that “the country should move forward”, adding that “I have supported President Trump and the strong economic path he has built.” (Jon Gray, president of Blackstone and a big supporter of Mr. Biden, signed the group’s letter.)
Mr. Schwarzman also seems ready to move on. After the onslaught on Capitol Hill, he told his colleagues that he believed the president should be removed from office. And he is now “ready,” he said in recent prepared statements, to help Mr Biden and his team.
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