'Salvation isn’t coming' for Trump’s GOP as megadonors admit funding primary is a 'waste' of 'money'

25 September 2023

Megadonors are hesitant to open their pockets to 2024 GOP presidential candidates, believing that financially backing any of them, including ex-President Donald Trump, could be a "waste" of funds, Politico reports.

"Trump's like 50 points ahead," a GOP fundraiser who requested anonymity told the news outlet. "Who wants to get involved and waste money?"

However, "Despite the former president sitting seemingly immovably atop the polls, some big donors are still shopping," the report notes.

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Per Politico, "Ronald Lauder — a billionaire cosmetics heir who met with [Florida Governor Ron] DeSantis and [United States Senator Tim] Scott (R-SC) as he surveyed the field after splitting from Trump— grew intrigued by [Nikki] Haley after the former South Carolina governor's strong debate performance last month, according to a person close to him who was granted anonymity to freely discuss private conversations."

Describing the current "mood" of wealthy donors, John Catsimatidis, the billionaire chief executive officer of Gristedes supermarket chain said, "Confusion. Is there a better word? Republican donors want a pro-business, no nonsense person and they want a person that’s capable of having the sex appeal to be able to win 51 percent. A lot of them are worried that President Trump, even though he's a superstar, won't be able to achieve the 51 percent, so they're looking toward the next person. It looks like Nikki Haley seems to be high on that totem pole right now, and [Florida Gov. Ron] DeSantis is there someplace, but DeSantis has been losing because of the sex appeal."

Still, Politico notes, "The reluctance of many wealthy donors to give is compounding the difficulties of lower-polling candidates in the primary — desperate to gain traction but with limited resources. Without deep pockets to rely on for advertising, it is also increasing the stakes of Republican primary debates, including this week's in California."

The news outlet also points out, "The hesitation to give is already having an impact on Republican super PACs, which are not bound by the limits of regulated political campaigns. Across all such groups focused on the GOP presidential primary, only 66 individual donors made contributions of $250,000 or more through the end of June — the latest period covered by federal filing deadlines, according to a POLITICO analysis of committee filings from the Federal Election Commission."

Politico emphasizes, "It's become evident to a large segment of the donor class that salvation isn't coming" for Trump's GOP.

Politico's full report is available at this link.

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