Tim Scott’s White House bid gets significant support from seven billionaires.

Super PACs Supporting Sen. Tim Scott’s 2024 White House⁢ Bid Receive Massive Donations ‍from Influential Business Leaders

Recent records reveal that ​Super PACs supporting Sen. Tim Scott’s (R-SC) potential 2024 presidential campaign ⁢have received substantial donations⁤ from⁤ a group of ‍influential business leaders.

The pro-Scott committees, Opportunity Matters⁢ Fund Action and Trust In The Mission, which are not ‌allowed to coordinate directly with Scott’s campaign but can accept ​unlimited cash contributions, disclosed on Monday ⁣that they received a combined total of $6.1 million from seven billionaires between March and June.

Wall Street Evaluates Republican Hopefuls for 2024 ⁤Presidential ‌Election

These ​donations highlight how Wall Street is assessing which Republican candidate ⁢could gather enough support to challenge President Joe Biden in the 2024 presidential election. According to a recent New York Times/Siena​ College GOP primary survey, former President Donald⁤ Trump leads with 54% support, followed by Gov. Ron DeSantis (R-FL) ‌at 17%, ‌ex-Vice President Mike ​Pence, Tim Scott, and⁣ former Ambassador to the United Nations Nikki Haley at 3%, and entrepreneur Vivek Ramaswamy at 2%.

“Tim Scott is the one candidate in this race that has shown movement and momentum,” said Nathan Brand, the ⁣communications director for Scott’s presidential campaign, in an interview⁤ with the Washington Examiner. “His consistently ​conservative‍ record,⁣ positive message, and ability‌ to connect with voters everywhere is why Tim‌ Scott is ⁤resonating. This is why he’s the candidate that Democrats fear the‍ most.”

Opportunity Matters Fund Action notably received significant contributions, including $80,000 from investor Nelson Peltz, non-executive chairman of the Wendy’s Company, $600,000 ​from business magnate Jeffrey Yass,⁣ and $150,000 from former hedge fund ​manager Stanley Druckenmiller, according to campaign finance disclosures. ‍However, billionaire and former Oracle CEO Larry Ellison, who previously‍ donated over $35 million⁢ to another Scott-affiliated PAC between ⁤2020 ⁤and 2022, was absent from the latest ⁣list of contributors.

Peltz,⁣ who hosted a fundraising dinner in 2020⁢ to support Trump’s presidential bid but later distanced‍ himself after the ​Jan. 6 Capitol riot, expressed concerns about ‍Gov.⁣ DeSantis’⁣ anti-abortion policies. Yass, co-founder of‌ the Philadelphia-based Susquehanna International Group,⁢ has previously supported ‌efforts ⁢opposing a Trump nomination within the GOP. Druckenmiller, a former ​managing director at Soros Fund Management, is co-hosting a fundraiser in the Hamptons⁣ to support Scott, along with⁣ ex-Gov. ‌Bill Haslam (R-TN).

Trust‍ in the Mission PAC received a $300,000 contribution from Haslam, ⁣as well as $25,000 each from billionaire ​couple Jimmy Haslam and Dee Haslam, owners of‌ the⁤ Cleveland Browns in the⁣ NFL. Additionally, the PAC received $5 million⁤ in June from South Carolina businessman Ben Navarro, founder of⁢ Sherman Financial Group and owner of Credit One Bank.

While Trump currently​ dominates the GOP‌ polls, Scott⁢ may have an opportunity to gain traction, considering recent challenges faced by the DeSantis campaign, such ⁢as overspending, low fundraising, and ⁢staff layoffs. The pro-DeSantis super PAC Never Back⁢ Down reported $97 million in cash-on-hand and plans to‍ raise another $100 ⁢million by March 2024.

Steven⁣ Cheung, a spokesman for the Trump campaign, expressed confidence in ⁤the ‍former president’s nomination and victory over ‍President Biden, ⁢stating,⁢ “Americans want to⁤ return to ​a prosperous nation, and there’s only one person who can ⁢do ​that — President Trump.”

Click here to read‌ more from the Washington ​Examiner.

*As an Amazon Associate I earn from qualifying purchases