Liberal billionaire Reid Hoffman, co-founder of LinkedIn, has reportedly halted donations to a pro-Nikki Haley super PAC following her loss to former President Donald Trump in the New Hampshire primary, as revealed by a source familiar with the matter. Hoffman, a Democratic donor, initially supported Haley’s bid for the Republican 2024 presidential nomination with a $250,000 contribution to Stand For America Fund Inc., a pro-Haley super PAC.
Hoffman’s political philanthropy adviser, Dmitri Mehlhorn, stated that the initial investment in Haley was made before the primaries, driven by the belief that her performance in New Hampshire could potentially lead to defeating Donald Trump. Mehlhorn emphasized that Hoffman would require a “path to victory” before considering further donations. While acknowledging the possibility of Haley persuading voters that Trump is no longer stable, Mehlhorn stated that a new potential path to victory, given her failure to win New Hampshire, would be crucial for future support.
In December, Hoffman expressed his financial backing for Haley’s super PAC, citing her as the only Republican nominee, aside from Trump, with a chance of winning the GOP nomination. However, Trump’s victories in early-voting states, with 51% of the votes in Iowa and 54.5% in New Hampshire, have raised questions about Haley’s viability. Other GOP donors, including billionaire metal magnate Andy Sabin, have called on Haley to step aside, asserting that “it’s time for Nikki Haley to walk away.”
Despite the recent setbacks, the pro-Haley super PAC, Stand For America Fund Inc., demonstrated substantial fundraising success, raising $50.1 million in the last half of 2023. This amount surpassed the funds raised by the pro-Trump super PAC, Make America Great Again Inc., by more than $5 million, according to a source familiar with the matter. The conservative perspective presented here underscores the challenges facing Haley’s campaign and the evolving dynamics within the Republican Party.