Key Takeaways
- • No Going Back PAC, an offshoot of Trump's MAGA Inc. super PAC, has spent at least $6.4 million opposing Rep. Kathy Castor (D-FL), with about $2.4 million going to an ad attacking her for trading Blackstone stock, according to AdImpact.
- • The ad cites a June 22, 2013 Tampa Bay Times report that Blackstone, through subsidiary Invitation Homes, spent more than $250 million acquiring 1,650 homes in the Tampa Bay area, though the ad does not name Blackstone.
- • Castor's Blackstone holdings were small: purchases valued between $1,000 and $15,000 in 2015 and 2019, sold in March 2020, with at most a few thousand dollars in gains, per House financial disclosures.
- • Blackstone CEO Stephen A. Schwarzman, a major MAGA Inc. donor who gave $5 million in December 2025, is connected to the funding network behind the ad, while Trump disclosed larger Blackstone stock holdings of $1.35 million to $2.93 million at the end of 2025.
- • Blackstone said it no longer owns Invitation Homes and did not directly address the Castor ad.
Summary
Following a mid-2026 redrawing of Florida's congressional maps at President Trump's urging, Republicans changed the boundaries of Rep. Kathy Castor's (D-FL) 14th Congressional District, which supported Trump over Harris by more than 10 points. Flipping the seat has become a top Republican priority. According to Popular Information, No Going Back PAC, an offshoot of Trump's MAGA Inc. super PAC, has spent at least $6.4 million opposing Castor.
About $2.4 million of that spending, according to AdImpact, has funded an ad accusing Castor of trading stock in a Wall Street firm that bought more than 1,600 Tampa Bay homes, raising rents. The ad does not name the firm, but it cites a June 22, 2013 Tampa Bay Times article reporting that Blackstone, through its subsidiary Invitation Homes, spent more than $250 million acquiring 1,650 homes in the Tampa Bay area.
The report notes that Blackstone CEO and co-founder Stephen A. Schwarzman donated $5 million to MAGA Inc. in December 2025, and that MAGA Inc. funds No Going Back PAC. Castor's own Blackstone investment was modest. Per reports filed with the House of Representatives, she bought Blackstone stock valued between $1,000 and $15,000 in February 2015, added to the position in January 2019 while keeping the total at $15,000 or less, and sold in March 2020 at a value still between $1,000 and $15,000.
A Blackstone spokesperson told Popular Information that "Blackstone no longer owns Invitation Homes" and sent a fact sheet titled "Supply Deficit, Not Institutions, Driving Affordability Challenges," without directly addressing the Castor ad. Blackstone sold its Invitation Homes stake in 2019 but has since acquired other real estate companies and owned nearly 4,000 homes in the Tampa area in 2024.
Trump, who says he controls the super PAC behind the ad, holds far larger Blackstone positions. He owned Blackstone stock worth between $1.35 million and $2.93 million at the end of 2025 and has continued buying this year, most recently disclosing a purchase of $250,000 to $500,000 on August 21.
About $2.4 million of that spending, according to AdImpact, has funded an ad accusing Castor of trading stock in a Wall Street firm that bought more than 1,600 Tampa Bay homes, raising rents. The ad does not name the firm, but it cites a June 22, 2013 Tampa Bay Times article reporting that Blackstone, through its subsidiary Invitation Homes, spent more than $250 million acquiring 1,650 homes in the Tampa Bay area.
The report notes that Blackstone CEO and co-founder Stephen A. Schwarzman donated $5 million to MAGA Inc. in December 2025, and that MAGA Inc. funds No Going Back PAC. Castor's own Blackstone investment was modest. Per reports filed with the House of Representatives, she bought Blackstone stock valued between $1,000 and $15,000 in February 2015, added to the position in January 2019 while keeping the total at $15,000 or less, and sold in March 2020 at a value still between $1,000 and $15,000.
A Blackstone spokesperson told Popular Information that "Blackstone no longer owns Invitation Homes" and sent a fact sheet titled "Supply Deficit, Not Institutions, Driving Affordability Challenges," without directly addressing the Castor ad. Blackstone sold its Invitation Homes stake in 2019 but has since acquired other real estate companies and owned nearly 4,000 homes in the Tampa area in 2024.
Trump, who says he controls the super PAC behind the ad, holds far larger Blackstone positions. He owned Blackstone stock worth between $1.35 million and $2.93 million at the end of 2025 and has continued buying this year, most recently disclosing a purchase of $250,000 to $500,000 on August 21.
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