Former South Carolina Governor Nikki Haley expended $76.4 million in unsuccessful attempts to outdo former President Donald Trump in the initial three GOP primary races: Iowa, New Hampshire, and South Carolina. The substantial sum of money utilized in the first trio of primaries for the 2024 cycle underscores the robust grassroots backing that Trump enjoys nationwide.
Moreover, the expenditure sheds light on the resources that the Republican Party failed to allocate towards challenging President Joe Biden. In anticipation of the upcoming election on Saturday, Haley asserted that she will persist in the race until Super Tuesday, scheduled for March 5.
So far Haley has spent: South Carolina: $8.4 million, New Hampshire: $31 million, Iowa: $37 million.
Following her defeat in South Carolina, it remains uncertain how much funding Haley will be able to secure for her campaign in the coming weeks. As of January, Haley and her super PAC only had $15 million in cash on hand, according to Federal Election Commission filings.
The donor class began cutting off future funding for Haley’s campaign after her loss in the critical Republican primary in New Hampshire, as reported by multiple advisers to political megadonors to the Washington Post.
Reid Hoffman, a billionaire Democrat donor and co-founder of LinkedIn, temporarily halted donations to pro-Haley PACs. Hoffman’s adviser, Dmitri Mehlhorn, stated, “We initially supported Governor Haley when we believed she had a chance of winning. However, I would need to see new evidence and a compelling case to convince me that additional funds could help her secure a victory,” as reported by the Wall Street Journal.
According to one political megadonor adviser, Haley is expected to face further financial setbacks. “Without a win in New Hampshire, she lacks the necessary momentum to succeed in South Carolina,” the adviser explained. “And without a lane to South Carolina, she has no chance on Super Tuesday.”
