GOP Megadonors Wait for an Anti-Trump Champion

Financial Times: “The yearning for Youngkin is a sign of the donor dilemma: for some deep-pocketed Republicans, no single, compelling alternative to Trump has emerged in the primary. And while the billionaires want to see such a candidate break from the pack before giving, the candidates need the money first to help them make that break.”

Said one adviser to a donor: “Is Trump beatable? Yes, but the first step is the field consolidating. Without consolidation, there’s not a viable path.”

“Several big GOP donors — from billionaire hedge fund bosses such as Paul Singer and Ken Griffin, to Miriam Adelson, the wife of the late casino emperor Sheldon Adelson — are now on the sidelines. Peter Thiel, who gave $35mn to two Senate candidates in 2022, ‘does not plan to donate to any 2024 race’, said a person familiar with his thinking.”