Nikki Haley Super PAC Outraises Trump With Wall Street Help

(Bloomberg) -- Stand For America Fund Inc., the super political action committee backing Nikki Haley, raised $50.1 million in the last six months of 2023, according to a person familiar with the fundraising, a haul that’s fueled by Wall Street and corporate executives who are seeking to stop Donald Trump’s White House comeback bid.

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That’s about $5 million more than the super PAC backing Trump, Make America Great Again Inc., said it raised during the same period. That’s a bright spot for Haley, the last remaining Trump challenger for the Republican presidential nomination. She faces a narrow path to victory after steep losses to Trump in both Iowa and New Hampshire.

The New York Times first reported the SFA Fund fundraising figure.

Prominent Wall Street executives and deep-pocketed contributors, including Home Depot co-founder Ken Langone as well as LinkedIn co-founder and Democratic donor Reid Hoffman, have contributed to Haley amid dismay over the prospect of a November rematch between Trump and President Joe Biden.

Billionaires Stan Druckenmiller, Henry Kravis, Ken Langone and Cliff Asness are scheduled to host a New York fundraiser for Haley on Tuesday.

Trump fired back at her donors on Wednesday evening, saying in a social media post that he would “permanently bar” anyone who continues to fund Haley from his political operation, though he didn’t specify exactly what that meant.

Donors’ interest in giving to the Haley-allied SFA Fund has only surged since Trump issued that threat, according to the person familiar who requested anonymity to discuss private conversations.

The Haley campaign said it had raised $2.6 million since New Hampshire voting ended on Tuesday. It also said it raised an additional $1.5 million in the 48-hours after Florida Governor Ron DeSantis said he was dropping out of the race.

Continued donor money is critical for Haley’s campaign to survive. The next major primary on Feb. 24 is in South Carolina, Haley’s home state, where Trump is leading her in the polls by approximately 30 percentage points.

The super PAC’s haul is in addition to the $24 million Haley’s campaign raised in the final quarter last year. Federal campaigns and super PACs are required to report their finances and donors to the Federal Election Commission by Jan. 31.

SFA Fund has a $1 million ad buy in South Carolina with the first spots set to air on Tuesday, according to the person familiar with the plans. Her campaign has also said it plans to spend $4 million in the state on advertising.

(Updates with Haley campaign fundraising in the seventh paragraph)

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