Source says Reed Hoffman temporarily halted funding for Nikki Haley after New Hampshire loss

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Republican presidential candidate, former United Nations Ambassador Nikki Haley, speaks during a campaign event held at Alpine Grove Events Center on January 18, 2024, in Hollis, New Hampshire.

Joe Rydell | Getty Images

Billionaire Reid Hoffman does not plan to provide any more money to Nikki Haley’s run for president, according to a source familiar with the matter.

Huffman, who for years has funded causes primarily aligned with the Democratic Party, gave $250,000 to a pro-Haley super PAC last year, according to New York times. The person who told CNBC that Huffman had no immediate plans to help Haley again declined to be identified in order to speak freely about the matter.

Huffman, a LinkedIn co-founder, wrote on his page in December that although he is a supporter of President Joe Biden, he believes Haley has the best chance of beating former President Donald Trump in the Republican primary.

“If America wants to avoid another Trump presidency, it will be because Trump loses the election next year,” Hoffman said. “If he loses, it will be either to Nikki Haley in the primaries, or to Joe Biden overall.” books. He noted that he came to the super PAC after hearing from JPMorgan CEO Jamie Dimon, who told a crowd of business leaders at the DealBook conference to support Healey.

Reid Hoffman

Kim White | CNBC

Hoffman’s calculations appear to have changed after Haley lost the Iowa primary and New Hampshire primary to Trump. She represents one of the first of Haley’s wealthy donors to start heading for the exits as she tries to stay in the primary race against Trump.

Three operatives who each helped Haley raise up to $100,000 for her campaign have now chosen not to help the former UN ambassador, a Republican fundraiser told CNBC on Wednesday.

Others explained that while they plan to speak out in support of Haley, they are not convinced they will be able to raise much money for her campaign because she has not scored a win so far in the primary season.

Trump has a 30 percentage point lead over Haley in her home state of South Carolina, according to the Real Clear Politics polling average.

Hoffman, whose net worth is just over $3 billion, did not respond to an email seeking comment.

This article originally appeared on www.cnbc.com

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