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Haley entered 2024 with $14.6 million, fueling its sustainable offering

Written by The Anand Market

Updated on:

Nikki Haley, the last candidate between former President Donald J. Trump and the Republican nomination, raised $24 million in the final three months of 2023 and entered this year with $14.6 million in her account campaign, a considerable sum that virtually ensured he will have the money to continue his insurgent bid for the White House.

Final fundraising figures from last year do not reveal how much Ms. Haley, the former South Carolina governor, has raised since coming in third place in the Iowa caucuses on July 15. January, then lost again in the New York Times. Hampshire primary elections eight days later.

But documents filed Wednesday with the Federal Election Commission indicate his frugal presidential campaign limited spending by pushing for new contributions.

“We’re running a smart campaign and that means spending our money wisely,” said Olivia Perez-Cubas, a Haley campaign spokeswoman. “Seventy percent of Americans do not want a rematch between Biden and Trump, and we have the resources and energy to ensure that doesn’t happen.”

While Ms. Haley’s campaign managed money carefully, a super PAC supporting her, SFA Fund Inc., spent heavily on advertising in 2023. The group reported raising $50.2 million in the second half of 2023 , for a total of $68.9 million all year, but spent almost all of that money, ending the year with about $3.5 million on hand.

This week, Ms. Haley, who served as Mr. Trump’s first ambassador to the United Nations, made her pitch to some of the country’s wealthiest donors, seeking their support as she continues her long-running bid to the Republican nomination. And when the week is over, her aides say, she will sit down, as she has throughout her campaign, and personally review her campaign spending.

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Until this month, her aides said, she was stealing almost entirely for commercial purposes, unlike other candidates, including Gov. Ron DeSantis of Florida, whose campaign spent at least $2.5 million by private jets, according to records released Wednesday.

This financial restraint has been on display in new federal filings, coupled with a steadily growing donor support base. Her campaign itself raised $17.3 million, including transfers from other committees she controls, and spent $14.3 million in the final three months of 2023.

The figures do not include last month, in which Mr. Trump won Iowa and New Hampshire handily. But they help explain why she is the last remaining challenger.

In the first quarter of 2023, his campaign spent just 20 cents for every dollar raised. In the second quarter, it spent 68 cents on the dollar. In the third quarter, that figure was 43 cents. For the entire year, his campaign spent less than 60 cents for every dollar raised — which is on the low end among presidential candidates and well below M’s burnout rates. DeSantis and Sen. Tim Scott of South Carolina.

Ms. Haley attracted the attention of some big donors early in the cycle. Timothy C. Draper, a venture capitalist in California, gave $2.25 million to his super PAC, while Jan Koum, a Ukrainian-born American businessman, gave the PAC a total of $10 million starting in February.

She also scored some big names towards the end of the year, as she gained momentum in the polls. Billionaire hedge fund managers Paul Singer and Kenneth C. Griffin each gave her $5 million super PAC in December.

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