At President Trump’s urging, the Florida legislature redrew the state’s electoral maps in an effort to increase the number of Republicans in Florida’s Congressional delegation. One of the members targeted by the changes is Congresswoman Kathy Castor (D-FL), who represents the state’s 14th Congressional District. Republicans changed the borders of Castor’s district in May 2026. The new 14th Congressional District supported Trump over Harris by more than 10 points.
In an election where Republicans are facing political headwinds, flipping Castor’s seat is a top priority. 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 No Going Back PAC’s spending, according to AdImpact, has gone toward broadcasting an ad that attacks Castor for buying stock in a financial company that bought up property in Tampa. “In Congress, Kathy Castor traded stocks in a Wall Street firm that bought more than 1,600 Tampa Bay homes, raising rents and pricing people out,” the narrator says. “Kathy Castor profited.”
Although the ad does not name the “Wall Street firm,” it cites a June 22, 2013, article published in the Tampa Bay Times. According to that report, Blackstone, a New York private equity firm, through its subsidiary Invitation Homes “spent more than $250 million acquiring 1,650 homes in the Tampa Bay area.”
One of MAGA Inc.’s largest donors is Blackstone CEO and co-founder Stephen A. Schwarzman, who donated $5 million to MAGA Inc. in December 2025. MAGA Inc., which funds No Going Back PAC, is now spending millions to attack Castor for buying Blackstone stock.
Castor’s investment in Blackstone was tiny. According to reports filed by the House of Representatives, Castor purchased Blackstone stock worth between $1,000 and $15,000 in February 2015. She added to her position in January 2019, although the combined value was still $15,000 or less. When Castor sold her position in Blackstone in March 2020, the value was still somewhere between $1,000 and $15,000. At most, Castor made a few thousand dollars from her brief ownership of Blackstone.
In response to a request for comment from Schwarzman about the ad, a Blackstone spokesperson said that “Blackstone no longer owns Invitation Homes” and sent Popular Information a fact sheet titled, “Supply Deficit, Not Institutions, Driving Affordability Challenges.” The spokesperson did not address that Castor ad directly.
Trump, who says he controls the super PAC behind the Castor ad, has made far larger purchases of Blackstone stock. At the end of 2025, Trump owned Blackstone stock worth between $1.35 million and $2.93 million. He has continued to purchase Blackstone stock this year, most recently disclosing a purchase of between $250,000 and $500,000 worth of Blackstone stock on August 21.
Although Blackstone sold its ownership stake in Invitation Homes in 2019, it subsequently acquired more real estate companies. In 2024, Blackstone owned nearly 4,000 homes in the Tampa area. This did not get in the way of Trump buying millions in Blackstone stock.
Trump’s super PAC is banking that the public will not find out who is funding the ad or the details of its attack against Castor.
Imagine being so desperate to flip a House seat in Florida that you fund an ad vilifying your own firm in the process. "What a monster! She bought and sold our stock!" Thanks for shedding light on this situation, Pop Info.
Thanks for highlighting this hypocrisy, yet another in a very long list.