‘Never Trump’ Republicans Keep Backing Nikki Haley: Filings

Republican presidential candidate and former U.N. Ambassador Nikki Haley speaks during a campaign event at Clemson University in Clemson, S.C., on Feb. 20, 2024. (Madalina Vasiliu/The Epoch Times)

Nikki Haley seems far away from seizing a victory that would get her flagging campaign for the Republican Party’s 2024 presidential nomination on track. Still, her wealthiest supporters haven’t quit on her yet.

On Feb. 20, two of the numerous fundraising bodies sponsoring the former U.N. Ambassador’s run published financial reports with the Federal Election Committee.

Those two groups, the principal campaign committee Nikki Haley for President Inc. and the hybrid political action committee SFA Fund Inc., collectively brought in about $23.6 million in total receipts in January.

The groups spent more than they brought in, however. Nikki Haley for President and SFA Fund reported total disbursements of about $26.8 million.

The pair ended the month with about $14.9 million in cash on hand. That was a sharp decline from the about $22.3 million in cash on hand the complete Haley financial network reported at the end of 2023.

Ms. Haley’s joint fundraising committee—Team Stand for America—and a qualified unauthorized PAC—Stand for America PAC—were notably absent from the Feb. 20 reports. Those two will issue their next disclosure on April 15. Combined, Team Stand for America and Stand for America PAC had about $4.4 million in the bank at the end of last year.

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Carolina Panthers owner David Tepper gestures before an NFL football game between the New York Giants and the Carolina Panthers in East Rutherford, N.J., on Sept. 18, 2022. (Noah K. Murray/AP Photo)

Top Fundraisers Keep Chipping In

In 2023, Ms. Haley saw support from a roster of the wealthiest Republican opponents of former President Donald Trump. Four of her biggest monetary supporters sent SFA Fund $2.75 million in January.

A hybrid PAC can solicit and accept unlimited contributions from individuals, corporations, labor unions, and other political committees, according to the FEC. It must maintain two bank accounts: one for independent expenditures on advertisements or voter drives and another for making direct contributions to federal candidates.

The Stephens family, associated with financial services company Stephens Inc., sent a collective $1 million to SFA Fund.

Warren Stephens, CEO of Stephens Inc., his wife, Harriett Stephens, and his daughter, Laura Stephens, a senior marketing communication manager at Stephens Inc., all donated to SFA Fund in January.

Warren Stephens is worth an estimated $3.2 billion, according to Forbes.

Mr. Stephens and his wife sent more than $2 million to the PAC in 2023.

Timothy Draper, founder and managing partner of California-based Draper Associates and a member of the wealthy Draper family, gave $750,000 to SFA Fund in January.

Mr. Draper, who sent $2.25 million to SFA Fund in 2023, is worth an estimated $1.2 billion, according to Forbes.

James Davis, the owner and chairman of shoe and sporting goods company New Balance, sent $500,000 to SFA Fund in January. Mr. Davis gave the hybrid PAC $2.5 million in 2023.

Forbes says Mr. Davis is worth an estimated $6 billion.

David Tepper and his wife, Nicole Tepper, sent a collective $500,000 to SFA Fund in January. The pair sent $1.5 million to SFA Fund in 2023.

Mr. Tepper, the president and founder of Appaloosa Management and the owner of the National Football League’s Carolina Panthers, is worth an estimated $20.6 billion, according to Forbes.

Representatives of Mr. Draper, Mr. Davis, and Mr. Tepper did not immediately respond to a request for comment from The Epoch Times. Representatives of Mr. Stephens declined to comment on this article.

Former President and 2024 presidential hopeful Donald Trump addresses Christian broadcasters at the National Religious Broadcasters (NRB) International Christian Media Convention in Nashville, Tenn., on Feb. 22, 2024. (Kevin Wurm/AFP via Getty Images)

Outraising Trump?

In January, as Ms. Haley came in third at the Republican Party of Iowa’s Caucus and second in New Hampshire’s Republican presidential preference primary, the campaign made much of its status as the only remaining obstacle to President Trump’s winning his third consecutive GOP presidential nomination.

Ms. Haley, who previously tread lightly on the issue, leaned into attacks on the former president’s age, mental fitness, and numerous legal problems. She also made fundraising pitches based on President Trump saying anyone who donated to Ms. Haley would be excommunicated from the Make America Great Again movement.

The Haley campaign, and many in the media, trumpeted the fact her principal campaign committee outraised President Trump’s in January. Donald J. Trump for President 2024 Inc. raised about $8.8 million, while Ms. Haley’s equivalent organization brought in about $11.5 million.

Moreover, the three Trump-related bodies that disclosed in January collectively brought in $21.2 million, about $2.4 million less than the Haley organizations.

Nevertheless, it’s worth noting that the Feb. 20 reports do not paint a complete picture of the candidate’s fundraising activities since at least two key committees supporting President Trump didn’t report either.

President Trump is very likely to get a substantial monetary boost if a number of his closest allies are installed at the helm of the Republican National Committee.

A nominee for a top leadership position at the party committee, Lara Trump, has already made overtures that the RNC would focus its spending on backing the 45th president, her father-in-law, and his chosen candidates for other national offices.