Billionaire investor says Wall Street is 'pretty sure' Trump will win 2024 election
Scott Besant, founder, CEO of Key Square Capital Management and former Soros fund manager, weighs in on Trump and Harris' respective economic plans, looks at market movers ahead of the election and explains his support for the 45th president.
A billionaire investor and former money manager for George Soros has explained why he thinks markets are “pretty sure” that former President Donald Trump will win the 2024 election.
Over the past 12 days, Wall Street has looked “pretty sure Trump is going to win… You can see it in bank stocks, you can see it in crypto,” Stanley Druckenmiller said in a Bloomberg Television interview on Wednesday.
It was indeed a big week for bank stocks, with market data showing positive year-over-year indicators for Bank of America, Wells Fargo, Citibank and JPMorgan Chase.
Additionally, a new report released Thursday from Chainalysis found that North America dominates the global crypto market with an estimated $1.3 trillion in blockchain.
Trump media shares rebound as former president's poll odds rise
When asked who he plans to vote for in November, the investor replied: “I definitely wouldn't support either of them.”
Stanley Druckenmiller told Bloomberg that he and the markets are “pretty sure” Trump will win the presidential election in November. (Getty Images)
Druckenmiller previously worked as a hedge fund manager for left-leaning media tycoon George Soros before founding his own investment firm Duquesne Capital in 1981.
He also told Bloomberg that he believes Trump is a “blowhard” and that a Harris-Walz presidency would be bad for business.
He said, I may write to someone if I go to the election.
Former President Donald Trump Al Smith sat down with 'Fox & Friends' to discuss the charity dinner, Vice President Harris' decision to skip the event and his record ahead of the 2024 presidential election.
Turning to Congress, Druckenmiller predicted that it is “highly unlikely” for Democrats to gain control of both chambers — even if Vice President Harris is elected — and that a red sweep is “probably more likely than a Trump presidency with a blue Congress.”
Another Soros Fund alum, Scott Besant, appeared on Fox Business' “Mornings with Maria” this week, arguing that Trump is proposing a “growth agenda” and that world leaders know “he means business.”
“I hope President Trump wins. And I want to help in any way I can, internally or externally. But if he doesn't win, there won't be jobs,” the Key Square Capital Management chief executive said Wednesday. .
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“Donald Trump has added a new leg to the Trump stool. Alexander Hamilton loved tariffs. He was the original tariff man, and he did it to raise revenue and protect American industry. Donald Trump has added a negotiating leg,” Bessant added.
According to the Wall Street Journal, the market's betting odds are also heavily skewed in Trump's favor, as four Polymarket accounts poured nearly $30 million into crypto betting that the 45th president would win.
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