Blackstone CEO and GOP megadonor Steve Schwarzman says he won’t help Trump during 2024 primary

Blackstone CEO Stephen Schwarzman listens to U.S. President Donald Trump during Trump’s strategy and policy forum with chief executives of major U.S. companies at the White House in Washington February 3, 2017.

Steve Schwarzman will not be funding Donald Trump's campaign for the White House in the GOP primary.

In a statement to CNBC on Wednesday, the morning after Trump launched his White House bid, Schwarzman said "America does better when its leaders are roots in today and tomorrow."

He said that he would support one of the candidates in the presidential primary.

The statement was reported by a news organization. CNBC reported Tuesday that other big money Republican donors would defect from Trump in his bid for the GOP nomination.

He didn't say which other candidates he would back. The Republican governor of Florida has not ruled out facing off against the president in the presidential primary.

Some Republicans think that Trump is toxic to the party. Most of the candidates the former president latched on to in swing state races for governor, secretary of state and U.S. Senate lost.

The man who once supported Trump on Wall Street criticized the former president after a mob of his supporters invaded the U.S. Capitol.

The insurrection that followed the President's remarks is appalling and an insult to the democratic values we hold dear as Americans. I am horrified by the mob's attempt to undermine the constitution. The outcome of the election is clear and there needs to be a peaceful transition of power.

The two men allied themselves late in the campaign. According to Open Secrets, he contributed $100,000 to Right to Rise, a super PAC that supported former Florida Gov.

Bush lost to Trump in the primaries. The New York businessman defeated Clinton in the general election.

The Republican Party has become one of the biggest funders of the party since Trump ran for President. According to OpenSecrets, he gave $3 million to America First Action, which supported Trump in the presidential election.

The CEO and his wife gave over $35 million to their preferred candidates, most of which went to Republicans.

A narrow Republican majority in the House is likely to be achieved thanks to the top 10 donors of the past two years. The Senate was controlled by Democrats.

The Republican candidates for congressional seats received just north of $35 million in contributions from one man.

CNBC had a contributor to this report.