According to the latest reports from POLITICO, some of the top donors to GOP presidential hopefuls are continually frustrated with the inability to change the fortunes of their preferred candidates. Contributions from these top donors are in excess of tens of millions of dollars. The inability to slow down Trump or push their preferred candidates to the forefront is leading to a tightening of their purse strings.
Trump who is despised by the elites in the Republican party keeps defying predictions of being blown away like the chaff. Hence, many of the leading donors have retreated to the sidelines rather than continuing to write huge checks that doesn’t seem to make any impact.
Donors are holding off until an established alternative to Trump
Based on interviews with major donors or at least their representatives, they [the donors] are waiting for the cluster to separate into a leading alternative to Trump. Some are urging various groups to start spending against Trump in a bid to deter his campaign.
Stan Hubbard, the billionaire media mogul from Minnesota, claimed “It’s frustrating” spending big bucks but seeing little result. He said: “It’s unbelievable. I mean Jeb Bush spent $42 million in New Hampshire ― what did he get for it?”
Hubbard has spent huge sums on Scott Walker, tipped to unite the party’s conservative and business-centrist factions, then on committees supporting Jeb Bush, Ben Carson and even Marco Rubio. He also spent on the aborted campaigns of Carly Fiorina and Chris Christie. “That’s money down the drain,” Hubbard noted.
Donors now rally around John Kasich
After his surprising performance in New Hampshire, John Kasich seems to have garnered new donors. Hubbard claims his new hope to take down Donald Trump is John Kasich. Though he finished well below Trump, Kasich attracted enough interest from donors who have contributed to his campaign.
Home Depot founder Ken Langone is also interested in the new development, even calling unto other donors to make a pitch. However, many fundraisers are weary of this tumultuous primary. They plan to watch his [Kasich’s] performance in other primaries before funding his super PAC.