Money is needed to win the White House. Lots and lots of cash. And the cost keeps increasing. About $2.2 billion was spent by the presidential contenders in 2016. That increased to $6.6 billion in 2020.
Whether you like it or not, winning requires money. For former president Donald Trump, that’s terrible news.
Another billionaire GOP financier has abandoned Trump and is now supporting Florida Republican Governor Ron DeSantis in the 2024 race instead.
The founder of Point Bridge Capital, Hal Lambert, thinks the GOP should support DeSantis rather than Trump.
“This time, I’m supporting DeSantis. I’m going to work very hard to get DeSantis the victory,” Lambert stated to The New York Post.
Lambert said that “Ron is great at giving a message,” calling his wife Casey “amazing. She will be really helpful.”
Lambert said that Trump’s behavior at a recent town hall event on CNN left him with a negative impression.
“What people who abstained from voting for Trump in 2020 will do so based on his performance this time?” Lambert remarked, “I don’t believe anybody will.”
We can’t discuss things that occurred four years ago since they cannot be altered,” he remarked. “Trump will find it challenging to win the general election. Joe Biden’s dismal track record won’t factor into the election. Instead, it will be a vote on Trump.”
Lambert said that DeSantis would give a stronger contrast to President Biden, who is 80 years old, on the debate stage.
Trump might have a net worth of $2.5 billion (at least, that’s what a Forbes study claims), but The Don is frugal with his own money. He is turning to the money whales, who are now swimming out to deep water, to finance his 2024 campaign.
“According to persons familiar with the situation, GOP megadonors Robert Mercer along with Rebekah Mercer do not currently have any intentions to support former President Donald Trump’s 2024 presidential campaign,” CNBC reported.
“The Mercers, a father and daughter who contributed significantly to Trump’s first presidential campaign in 2016, are separating themselves from the former president’s third White House candidacy and reducing their total campaign financing, according to these sources. To discuss private exchanges, the persons who talked with CNBC agreed to remain anonymous.”
And more people are leaving.
“Among the affluent GOP contributors choosing not to support Trump’s most recent campaign, at least not throughout the Republican primary, are Blackstone CEO Steve Schwarzman, Citadel CEO Ken Griffin, rich New York entrepreneur Andy Sabin, as well as billionaire Ronald Lauder,” according to CNBC. “Some of the richest GOP contributors in the nation don’t think Trump can win again and have urged for a fresh face to represent their party in the presidential election.”