Warren Stephens, an investment banker and billionaire who donated to President-elect Donald Trump’s rivals before eventually supporting him in the 2024 race, was tapped as Trump’s ambassador to Britain on Monday.
The selection of Stephens for the ambassadorship, a plum posting that often goes to one of the largest donors to presidential campaigns, was in part a nod to the American Opportunity Alliance, a big-money network of Republican donors in which Stephens plays a leadership role. Trump and the alliance had a tense relationship at times over the course of his campaign.
In 2016, Stephens, CEO of Stephens Inc., an investment bank based in Little Rock, Arkansas, gave $2 million to a group dedicated to stopping Trump from winning the Republican presidential nomination. During the most recent election cycle, he backed other Republican presidential candidates, including Asa Hutchinson, Chris Christie, Mike Pence and Nikki Haley.
Beginning in April, after it became evident that Trump would be the Republican nominee, Stephens donated more than $3 million to support his campaign, according to federal campaign finance reports. He also donated $3.5 million to Trump’s super political action committees in 2019 and 2020 during his reelection campaign.
During his first term, Trump named another financial backer of his campaign, Woody Johnson, as ambassador to Britain.
In a statement posted on social media, Trump praised his new pick for “selflessly giving back to his community as a philanthropist.”
“Warren has always dreamed of serving the United States full time,” the president-elect said. “I am thrilled that he will now have that opportunity as the top Diplomat, representing the U.S.A. to one of America’s most cherished and beloved Allies.”
This article originally appeared in The New York Times.
