{"id":512534,"date":"2022-11-19T13:57:57","date_gmt":"2022-11-19T10:57:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/trump-faces-potential-fundraising-problem-as-megadonors-jump-ship\/"},"modified":"2022-11-19T13:57:57","modified_gmt":"2022-11-19T10:57:57","slug":"trump-faces-potential-fundraising-problem-as-megadonors-jump-ship","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/trump-faces-potential-fundraising-problem-as-megadonors-jump-ship\/","title":{"rendered":"#Trump faces potential fundraising problem as megadonors jump ship"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a38d4e259fb3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a38d4e259fb3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/trump-faces-potential-fundraising-problem-as-megadonors-jump-ship\/#Trump_faces_potential_fundraising_problem_as_megadonors_jump_ship\" >Trump faces potential fundraising problem as megadonors jump ship<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/trump-faces-potential-fundraising-problem-as-megadonors-jump-ship\/#GOP_megadonors_abandon_Trump\" >GOP megadonors abandon Trump<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/trump-faces-potential-fundraising-problem-as-megadonors-jump-ship\/#Trump_restricted_from_using_war_chest\" >Trump restricted from using war chest\u00a0\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Trump_faces_potential_fundraising_problem_as_megadonors_jump_ship\"><\/span>Trump faces potential fundraising problem as megadonors jump ship<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2022\/11\/trumpdonald_111622ap-rebecca-blackwell_crunch.jpg?w=900\" \/><\/p>\n<div>\n<p>Former President Trump could face a surprising problem as he mounts his 2024 campaign: a cash crunch as wealthy megadonors gravitate toward Florida Gov. Ron DeSantis (R) and other potential contenders.\u00a0<\/p>\n<p>A loyal army of small-dollar donors will power Trump\u2019s presidential bid, potentially making up for the exodus of billionaire backers, but they\u2019ve shown signs of scaling back their giving.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\"><\/aside>\n<p>And while Trump\u2019s political machine is starting off with a war chest of more than $110 million, federal law prevents him from using most of that money to advance his White House campaign.<\/p>\n<p>Meanwhile, Trump\u2019s political committees are shelling out huge sums on his legal defense, totals that only seem likely to rise after the Department of Justice on Friday <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointed a special counsel to oversee probes into him.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"GOP_megadonors_abandon_Trump\"><\/span><strong>GOP megadonors abandon Trump<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Billionaire Republican donors are splitting from Trump after the far-below-expectations of last week\u2019s midterm elections, dealing a serious blow to his fundraising prospects.\u00a0<\/p>\n<p>Hedge fund manager Ken Griffin, the\u00a0second-most prolific GOP donor\u00a0of the midterms, said Tuesday that he would support DeSantis over Trump, pointing to the Florida governor\u2019s dominant reelection victory in a state that was considered competitive until recently.\u00a0\u00a0<\/p>\n<p>\u201cI\u2019d like to think that the Republican Party is ready to move on from somebody who has been for this party a three-time loser,\u201d Griffin said at Bloomberg\u2019s New Economy Forum in Singapore, referring to the last three election cycles.<\/p>\n<p>Griffin, who bankrolled a pro-Trump super PAC in previous cycles, gave $5 million to a political committee aligned with DeSantis last year.<\/p>\n<aside class=\"ad-unit ad-unit--mr2_ab\"><\/aside>\n<p>Stephen Schwarzman, CEO of private equity giant Blackstone and a top Republican donor, announced Wednesday that he would support a challenger to Trump in 2024.\u00a0<\/p>\n<p>\u201cAmerica does better when its leaders are rooted in today and tomorrow, not today and yesterday,\u201d Schwarzman said in a statement. \u201cIt is time for the Republican Party to turn to a new generation of leaders and I intend to support one of them in the presidential primaries.\u201d\u00a0<\/p>\n<p>Robert and Rebekah Mercer, the top donors to Trump\u2019s 2016 campaign, are also done backing the former president,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/11\/18\/gop-megadonor-mercers-distance-themselves-from-trump-for-2024-campaign.html\">CNBC reporte<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/11\/18\/gop-megadonor-mercers-distance-themselves-from-trump-for-2024-campaign.html\">d\u00a0on Friday<\/a>.<\/p>\n<aside class=\"ad-unit ad-unit--mr3_ab\"><\/aside>\n<p>Several prominent Republicans who supported Trump\u2019s 2020 reelection bid \u2014 including South Dakota Gov. Kristi Noem, former Vice President Mike Pence and other possible 2024 challengers \u2014 have made similar statements calling for new leadership after a disastrous midterm election for Trump-endorsed candidates.<\/p>\n<p>\u201cWe were told we\u2019d get tired of winning. But I\u2019m tired of losing,\u201d former Trump administration Secretary of State Mike Pompeo, another potential 2024 hopeful,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mikepompeo\/status\/1593652158754324480\">tweeted o<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mikepompeo\/status\/1593652158754324480\">n\u00a0Friday<\/a>. \u201cAnd so are most Republicans.\u201d<\/p>\n<p>Trump will at least be able to tap his enormous list of online, small-dollar donors who powered his near-record $774 million fundraising haul in 2020.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr4_ab\"><\/aside>\n<p>But after bringing in big money in 2021, the Trump operation\u2019s fundraising slowed in the first half of this year, forcing it to spend more on texts, emails, online ads and other appeals to donors. Trump-affiliated committees spent more than they raised in the third quarter of 2022.\u00a0<\/p>\n<p>Trump, who is a billionaire himself, spent $66 million of his own money on his 2016 presidential campaign. But he opted not to self-fund his 2020 reelection run.\u00a0<\/p>\n<p>The Hill has reached out to the Trump campaign for comment.<\/p>\n<p>Following his official 2024 announcement, the Trump campaign will also now be on the hook for millions of dollars in legal fees that were being paid by the Republican National Committee.\u00a0<\/p>\n<p>\u201cWe cannot pay legal bills for any candidate that\u2019s announced,\u201d RNC Chairwoman Ronna McDaniel told CNN\u2019s Dana Bash, noting that the committee can\u2019t make in-kind contributions to a declared candidate.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Trump_restricted_from_using_war_chest\"><\/span><strong>Trump restricted from using war chest\u00a0\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Political committees controlled by or closely affiliated with Trump have a total of nearly $112 million in the bank,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.opensecrets.org\/news\/2022\/11\/111-7-million-in-the-bank-but-only-13-5-million-in-the-tank-how-trump-can-and-cannot-use-his-political-operations-cash\">according to an analysis<\/a>\u00a0of the most recent Federal Election Commission (FEC) filings by nonpartisan research group OpenSecrets.<\/p>\n<p>That would appear to give Trump a substantial headstart over his GOP primary opponents. But only $13.5 million of that total can legally be used to bolster Trump\u2019s 2024 aspirations.<\/p>\n<p>That\u2019s because most of the money was raised by a leadership PAC and other committees that are not officially part of Trump\u2019s presidential campaign. Federal law prohibits candidates from double-dipping into donor funds this way, thus bypassing candidate contribution limits and transparency rules.\u00a0<\/p>\n<p>In an effort to dodge those restrictions, Trump\u2019s leadership PAC last month transferred $20 million to a super PAC called MAGA, Inc. The group is run by Trump aides, even though super PACs are supposed to be independent of candidates.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr5_ab\"><\/aside>\n<p>The nonpartisan Campaign Legal Center\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/campaignlegal.org\/sites\/default\/files\/2022-11\/Trump%20Save%20America%20PAC%20Complaint%20%28Final%29.pdf\">filed a complaint<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/campaignlegal.org\/sites\/default\/files\/2022-11\/Trump%20Save%20America%20PAC%20Complaint%20%28Final%29.pdf\">\u00a0before the FEC<\/a> this week alleging that the transfer violated federal law prohibiting candidates and their committees from transferring funds to \u201csoft money\u201d entities such as super PACs that can raise and spend unlimited funds.\u00a0<\/p>\n<p>Saurav Ghosh, director of federal campaign finance reform at the Campaign Legal Center, said that the Trump campaign strategy is a \u201cvery clear violation\u201d of federal law, but it\u2019s still unclear whether the FEC will act in a timely manner, or at all, to prevent wrongdoing.<\/p>\n<p>The commission, which is divided equally along partisan lines, has rarely slapped penalties on campaign committees in recent years. Republican commissioners have dismissed every complaint against Trump, despite two-dozen instances of the FEC\u2019s nonpartisan lawyers recommending an investigation.\u00a0<\/p>\n<p>\u201cThe FEC\u2019s track record of enforcing soft money violations is pretty poor,\u201d Ghosh said. \u201cAnd you pair that with the fact that they have an equally bad, if not worse, track record of enforcing really any campaign finance laws against Donald Trump.\u201d<\/p>\n<aside class=\"ad-unit ad-unit--mr6_ab\"><\/aside>\n<p>If Trump is successful in evading campaign finance laws, he could encourage DeSantis to do the same.<\/p>\n<p>The Florida governor hasn\u2019t said that he will run for president, but he broke state-level fundraising records in his 2022 gubernatorial contest and spent only a fraction of the total. DeSantis ended the race with around $90 million in the bank between his campaign committee and affiliated PAC.\u00a0<\/p>\n<p>\u201cIf he were to try a similar maneuver as Trump and simply transfer all of that money over to a super PAC that\u2019s geared towards supporting his candidacy, there\u2019s no question that that would be another, even more clear-cut soft money violation,\u201d Ghosh said.\u00a0\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thehill.com\/homenews\/campaign\/3742334-trump-faces-potential-fundraising-problem-as-megadonors-jump-ship\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump faces potential fundraising problem as megadonors jump ship Former President Trump could face a surprising problem as he mounts his 2024 campaign: a cash crunch as wealthy megadonors gravitate toward Florida Gov. Ron DeSantis (R) and other potential contenders.\u00a0 A loyal army of small-dollar donors will power Trump\u2019s presidential bid, potentially making up for&#8230;<\/p>\n","protected":false},"author":1,"featured_media":512535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2022\/11\/trumpdonald_111622ap-rebecca-blackwell_crunch.jpg?w=1280","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[134343,4941,134661,70610,90482,133498,124783,86806,71525,29102],"class_list":["post-512534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-campaign","tag-donald-trump","tag-energy-environment","tag-finance","tag-house","tag-in-the-know","tag-international","tag-ken-griffin","tag-national-security","tag-ron-desantis"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/512534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=512534"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/512534\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/512535"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=512534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=512534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=512534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}