Reid Hoffman pauses Haley funding after loss to Trump: Source

Reid Hoffman pauses Haley funding after loss to Trump: Source

The South Carolina primary will be crucial for Nikki Haley, says Libby Cantrill of PIMCO

Billionaire Reid Hoffman has no plans to donate any more money to Nikki Haley’s presidential campaign following her defeat in the New Hampshire Republican primary, according to a person familiar with the matter.

Hoffman is one of Haley’s first wealthy donors to head for the exit after she said Tuesday that she would remain in the GOP nomination contest against former President Donald Trump, despite not seeing him in either New Hampshire or the United States could beat the Iowa caucuses.

The person who told CNBC that Hoffman had no immediate plans to help Haley again declined to be identified in order to speak freely about the matter.

Republican presidential candidate, former U.N. Ambassador Nikki Haley, speaks during a campaign event at the Alpine Grove Event Center on January 18, 2024 in Hollis, New Hampshire.

Joe Raedle | Getty Images

A Republican fundraiser told CNBC on Wednesday that three clients who each helped Haley raise up to $100,000 for her campaign are now opting out of further financial efforts for the former UN ambassador.

Other fundraisers said Wednesday that while they planned to publicly advocate for Haley, they were not convinced they could raise much money for her campaign given her 0-for-2 record.

According to the New York Times, Hoffman, a LinkedIn co-founder who has primarily funded Democratic Party causes for years, donated $250,000 to a pro-Haley super PAC last year.

Hoffman said in December that while he was a supporter of President Joe Biden, he believed Haley had the best chance of beating Trump in the Republican primary.

Reid Hoffman

Kim White | CNBC

“If America wants to avoid another Trump presidency, it will be because Trump loses an election next year. If he is going to lose, it will be either Nikki Haley in the primaries or Joe Biden in general,” Hoffman wrote on his LinkedIn page in December.

He noted that he gave in to the super PAC after listening to JPMorgan CEO Jamie Dimon urge a crowd of business leaders at the DealBook conference to support Haley.

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Hoffman, who has a net worth of just over $3 billion, did not respond to an email seeking comment.

Trump leads Haley, a former South Carolina governor, by 30 percentage points in the state, according to a Real Clear Politics polling average.

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2024-01-24 21:51:28