Wall Street backs 2024 GOP contenders over Trump.

Finance Sector Executives Steer ⁢Donations⁣ to 2024 ‌Republican ‍Primary Opponents ⁤of Trump

Records show that‌ in ⁤the⁢ second‍ quarter, ⁢finance​ sector⁤ executives directed significant campaign ‍donations⁤ to‌ Republican primary opponents ‌of former President‌ Donald Trump. ⁤This move⁣ reflects the influence that Trump‍ still holds over ⁣the⁣ Republican Party, resulting in⁢ a substantial financial⁤ windfall ‌for his campaign​ and political ‍action committee. According ‌to Federal Election ‌Commission filings,‍ Wall ⁤Street executives have​ contributed the⁤ legal⁣ maximum ​donations to GOP White⁤ House hopefuls, excluding Trump, ⁤ahead⁤ of ‍the ‌first debate in August.

Wall ‍Street Evaluates ⁣Alternatives ‌to Trump

The recent⁣ publicized contributions provide ​a glimpse‌ into how wealthy⁣ right-leaning figures are assessing⁢ which⁤ candidate ⁢to ​support instead of ⁣the former president.⁤ Current ⁤polling averages indicate⁢ that Trump has ⁤garnered around 54% support for the Republican⁣ nomination, ⁢with Governor Ron​ DeSantis ⁢of ⁢Florida receiving approximately 20%. Other contenders,⁢ such ‍as​ former Vice President ⁣Mike Pence, entrepreneur ‍Vivek Ramaswamy, ex-U.N. ⁢ambassador Nikki Haley, and ⁤Senator ⁣Tim Scott of South Carolina, have also ⁢received‌ notable support.

This ⁤shift in support ‍from ⁣Wall⁣ Street towards ⁢Trump’s ​challengers is⁤ not entirely ⁣surprising. In 2020, ⁢the ⁤finance industry contributed‌ only about ⁣$18 million to‍ Trump’s campaign, while donating over ‌$74‌ million to help propel Joe Biden to‍ the‍ presidency, according​ to OpenSecrets, a ‌campaign ‍finance⁣ tracker.

DeSantis and Ramaswamy ​Among‍ Beneficiaries

During the second quarter,‌ several Trump challengers,‌ including DeSantis ⁣and​ Ramaswamy, received ‍support⁤ from Wall ⁣Street. DeSantis’ campaign received a $6,600 ​donation from ⁤billionaire hedge fund manager Paul⁢ Tudor⁤ Jones,⁣ who also contributed ‍the same amount‍ to Chris Christie’s ⁣campaign. DeSantis also‌ received donations⁢ from venture capitalist Joe Lonsdale, ⁢Goldman Sachs Vice President Justin ‍Siegel,⁢ Texas billionaire​ Harlan Crow, and ‍shipping magnate Richard⁤ Uihlein,⁤ contributing to his $20 million second-quarter haul.

Ramaswamy,⁣ known for his strong ⁣stance ⁣against‍ corporate ‍”woke” strategies, ⁢received ‌donations‌ from at least ⁤a‌ dozen​ finance⁤ sector leaders.⁢ Notable contributors included ⁤Bill Ackman,‍ CEO of Pershing ‍Square Capital, ⁢and Ed Hyman,‌ chairman of Evercore ISI. Ramaswamy’s second-quarter fundraising totaled approximately ⁣$7.7⁤ million,‍ including a⁤ $5 million personal loan to his⁤ campaign.

Haley Gains Wall ⁣Street ⁤Support

Former U.N. ‍ambassador​ Nikki Haley also benefited ‍from Wall ​Street⁣ donations ‍in the‍ second ​quarter. Finance executives, such as Cliff Asness, co-founder of AQR ​Capital ⁣Management, and ⁢Tim⁣ Draper, a veteran venture ‌capitalist, ⁢contributed to ​her campaign. Asness, worth $1.6⁣ billion, praised⁣ Haley’s ​leadership⁢ qualities ‍and⁤ her‍ support for ⁢capitalism.⁢ Draper ‍highlighted⁣ Haley’s courage and openness, describing her as ‍the only ⁣candidate‍ he supports.

Haley’s second-quarter fundraising exceeded $7‍ million, ⁢and ⁤her campaign​ emphasized⁤ fiscal‍ responsibility and⁣ strategic spending.

Other notable finance world donors in ⁢the second quarter ‍included Blackstone⁢ CEO⁣ Stephen ⁤A.​ Schwarzman and Goldman ‍Sachs‍ CEO ​David M. Solomon,‍ who both ​donated to‍ Senator Tim Scott’s campaign.⁣ Scott, a Republican from South‍ Carolina, raised $6⁢ million.

Overall, these ‍contributions ⁤from‌ finance‍ sector ‍leaders provide insight into ⁤the shifting dynamics ‌of the‌ 2024‍ Republican primary race ⁤and the​ ongoing evaluation of candidates by‍ influential donors.

Click here ⁢to read more from The Washington⁤ Examiner.