For Schwarzman, the idea seemed absurd. “This has been a difficult time,” he said, according to a participant who shared details of a conference call transcript. Both media coverage and polls have deceived people, said Schwarzman, and as a result, “people are generally skeptical about what people are saying”. He argued that vote counts, which continued days after the election, created a perception problem, especially in places where Trump seemed to have an early victory just for a Biden victory to be declared later. His comments did not please some participants.
“It was 100 percent known in advance that this was exactly what would happen in a place like Pennsylvania,” replied Richard H. Pildes, an expert on constitutional law, according to the participant who had the transcript. Kenneth Frazier, chief executive of Merck, added that Trump’s actions are undermining democracy and should be a matter of great concern, the participants recalled.
After Schwarzman’s comments were leaked to The Financial Times, some Blackstone investors began to raise questions, officials informed about the calls say. Pension fund employees, who invest with Blackstone, had previously told company employees that they wanted Schwarzman to stay away from politics. Now, a pension wanted to know more about what he had told the other executives and why, and another complained that he didn’t like what he was reading, said two Blackstone employees.
Even when he found himself involved in controversy, Schwarzman refused to criticize the president. It took until November 16 – more than a week after the election was called by the networks – to recognize victory in an economic forum. (“It looks like Joe Biden,” he said.)
As Trump refused to budge, Schwarzman refused to sign a November 23 letter in which more than 160 executives demanded a transition of power. Instead, he issued his own declaration that “the country should move forward”, adding that “I supported President Trump and the strong economic path he has built”. (Jon Gray, president of Blackstone and a big supporter of Biden, signed the group’s letter.)
Schwarzman also looks ready to move on. After the capture of the Capitol, he told colleagues that he thought the president should be removed. And now he is “ready,” he said in statements prepared recently, to help Biden and his team.