(USNewsMag.com) – Even though former President Donald Trump has a commanding lead in the polls, some top Republican donors are still hoping for another candidate.
With Trump so far ahead, some donors feel as though they shouldn’t donate, with a New York donor saying, “Who wants to get involved and waste money?”
The impact of fewer donations from top donors is being seen across the Republican superPACs. By the end of June, only 66 individual donors had made contributions of at least $250,000, according to the latest Federal Election Commission filings. In comparison to the same point in the 2016 election cycle, this is a 24 percent decline, as 87 individual donors had made contributions of at least $250,000 to Republican superPACs.
However, Trump has raised over $23.7 million through the end of June from donors giving less than $200, according to a report from his joint fundraising committee.
Despite Trump’s lead, top Republican donors still worry that if Trump is the nominee, he could again be facing off against President Joe Biden. However, with no candidates making much movement in the polls, they are unsure who they would back.
Gristedes supermarket chain CEO John Catsimatidis stated that the word “confused” best sums up the mood of top Republican donors. He added that the top donors are looking for someone “able to achieve the 51 percent” needed to win and that “they’re looking toward the next person” because they don’t feel Trump can get the 51 percent needed to overcome Biden.
Some top donors, such as Thomas Peterffy and billionaire CEO Ken Griffin, have expressed frustration at the candidates and have remained on the sidelines.
According to New York-based consultant Stu Loeser, who works with wealthy donors, the top donors so far are “sitting on their hands this cycle.” Loeser added that they will “until someone proves viability,” as nobody yet has shown a chance of beating Trump.
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