Billionaire investor Nelson Peltz said he would likely vote for Donald Trump in the next election, citing the ongoing migrant crisis as the reason.
Peltz, 81, told the Financial Times that he was concerned about the increase in immigration to the United States under President Joe Biden, calling it “degrading.”
He also criticized President Biden, who is also 81, saying his “current mental state is truly scary.”
Peltz, whose daughter Nicola married Brooklyn Beckham, said: “I don’t know what he knows and I don’t know what he doesn’t know.
“I don’t know who’s speaking for him and that’s troubling,” before adding: “It’s probably going to be Trump and I’m not happy about that.”
The investor, who founded the $10 billion investment firm Trian Partners, also said the criminal charges brought against Trump in numerous courts amounted to a “miscarriage of justice.”
Peltz, 81, told the Financial Times he was concerned about the increase in immigration to the United States under President Joe Biden, calling it “degrading.”
Trump and former first lady Melania Trump leave after voting in Florida’s primary election in Palm Beach on Tuesday.
Peltz is the latest former Trump critic to return to support the ex-president after beating his Republican rivals in the presidential primary race.
He supported Trump in 2020, but then told reporters a day after the Jan. 6 riot at the Capitol that he was “sorry” for supporting the former president.
At the time, Peltz said Trump damaged his legacy in office by inciting violence and attempting to overturn the outcome.
Peltz told the FT: “I said I regretted voting for him because for me the Capitol is one of the sacred places, and the last time someone attacked the White House it was was the British in 1812.
“And I thought it was pretty bad. I was convinced at the time that Trump could have incited him.
He is also expected to support Trump in the face of increased immigration at the southern border.
Peltz said: “We cannot continue to let everyone into this country. We have an immigration problem – it’s not a Republican or Democratic problem.
“The United States should not end immigration, but I would like to see limits set so that we at least know who we are bringing in.”
Peltz also criticized President Biden, who is also 81, saying his “current mental state is truly scary.”
Migrants who crossed the Rio Grande and entered the United States from Mexico wait in line to be processed by U.S. Customs and Border Protection, September 23, 2023, in Eagle Pass, Texas.
He is also expected to support Trump in the face of increased immigration at the southern border. Migrants are seen here seeking asylum at the Ciudad Juarez border on March 19.
Peltz said he hasn’t decided whether to financially support Trump, who is one of his neighbors in Palm Beach, Fla., whom he has known for decades.
In 2020, Trump appeared as the guest of honor at a couple’s $580,600 fundraising dinner hosted by Peltz.
About 30 guests came to the Peltz estate, with the promise of a dinner and photo opportunity with Trump.
Peltz’s inability to say whether he would support him financially comes after it appeared that Trump was scrambling to make up for Biden’s huge fundraising advantage.
The Republican National Committee has just $40 million in the bank, compared to $130 million for Democratic operations last month.
The huge funding gap continues to widen as Democrats open their wallets to support Biden’s campaign to retain the White House.
Democrats raised more than $10 million in the 24 hours following the State of the Union earlier this month.
Donald Trump is scrambling to raise funds while the Republican National Committee has only $40 million in the bank.
Trump greets supporters at one of several fundraisers at his Mar-a-Lago resort in April 2021
That’s far more than Trump’s biggest day, when he raised $4.2 million after his photo in the Georgia election fraud case was released.
Additionally, the Service Employees International Union planned to spend $200 million to convince working-class Americans to vote for Biden and other Democrats.
Trump is trying to close the gap by flirting with as many wealthy donors as possible, entertaining at Mar-a-Lago three nights a week, the New York Times reported.
Oracle founder Larry Ellison and sugar magnate Pepe Fanjul are among those who have wined and dined at the Palm Beach, Fla., resort in recent months.
Mar-a-Lago will also host an expensive dinner early next month to launch a new joint fundraising account, which is expected to raise at least $25 million.
Struggling to attract new donors, Trump’s team is asking those who have already pledged seven-figure sums to increase their contributions to more than $10 million, according to the New York Times.
Peltz (left) pictured with his daughter Nicola (right) – who married Brooklyn Beckham last year – launched his first proxy war in January and called on Disney to ‘restore the magic’
Peltz is currently embroiled in a bitter proxy battle with Disney in a bid to win two seats on the company’s board of directors.
Trian Partners is urging Disney investors to vote for Peltz and Jay Rasulo, Disney’s former chief financial officer, at the company’s annual shareholder meeting next month.
Last week, Disney went on a rampage with a political-style video trashing the activist shareholder’s motives and qualifications.
In a video posted online, Disney said Peltz had a long history of “attacking companies to the ultimate detriment” of shareholders.
They said it would be “disruptive” and “value-destroying” to include him and Rasulo on the board.
They think his quest to win a seat on Disney’s board, he claims, “seems more about vanity than a belief in Disney.”
Peltz, the founder of Trian Fund Management, argued in his own presentation that Disney had been slow to adapt to changes in the industry, including in the streaming space, had made mistakes in its strategy of acquisition and had poorly planned his succession.