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Monday, February 16, 2026
Cue the sad trombone: Hedge fund billionaire John Paulson " a major Trump donor and advocate of tariffs " is shuttering his Ohio brass instrument plant and offshoring work to China, according to a new report. Paulson's company Conn Selmer, the nation's top maker of orchestral and brass instruments, notified employees it will shift most of its East Lake plant operations to Asia by July, triggering about 150 layoffs, The Guardian reported. Paulson " who is worth an estimated $4 billion, according to Forbes " has been a major backer of the Republican president for years. During Trump's first presidential campaign, Paulson served as an economic advisor, and he raised $50 million for the president at a 2024 fundraiser in Florida. He was also shortlisted to serve as treasury secretary, a position that was ultimately given to another hedge fund investor: Scott Bessent. |
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More Alternate links: Google News | Twitter Two months earlier, Paulson told CNBC that Trump's tariff plans were "well-founded." He's also publicly opposed moving jobs overseas. "We can't have American producers closing American factories and offshoring," he told the outlet. "We need to protect American jobs and protect American manufacturing," Comments
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