(DailyChive.com) – Former South Carolina Governor Nikki Haley’s attempt to oust former President Donald Trump in the Republican primary has been hampered by significant financial losses. In the crucial first contests of Iowa, New Hampshire, and her home state of South Carolina, Haley’s campaign has lost a staggering $76.4 million.
This substantial spending highlights the ongoing strength of Trump’s grassroots support nationwide, demonstrating the formidable challenge he poses within the Republican Party. Moreover, it reveals the significant amount of resources that could have been deployed to challenge President Joe Biden’s administration.
Despite mounting financial pressure, Haley remained determined leading up to Saturday’s primary, vowing to continue her campaign until Super Tuesday on March 5. However, her defeat in South Carolina has significantly made the future of her candidacy even more challenging.
A breakdown of the funds spent by both political action committees (PACs) and Haley’s campaign itself reveals the extent of the investment in each primary contest – a total of $8.4 million was poured into South Carolina, $31 million into New Hampshire, and a whopping $37 million into Iowa. Despite her massive financial backing, Haley’s bid has continued to hit a brick wall – further raising concerns about how she can conveniently maintain campaign momentum in the weeks to come.
With only $15 million in cash on hand at the end of January, according to Federal Election Commission filings, Haley faces a significant fundraising challenge. The situation worsens as critical donors, including Democratic billionaire Reid Hoffman, co-founder of LinkedIn, have stopped contributing to pro-Haley PACs. Dmitri Mehlhorn, an adviser to Hoffman, expressed doubts about further investment in Haley’s campaign, citing the declining prospects of her candidacy.
The fallout from Haley’s financial setbacks is expected to worsen, with political megadonor advisors predicting a problematic and uphill battle for the former governor. Without a decisive victory in New Hampshire, Haley’s chances in South Carolina appear increasingly precarious, leaving her with minimal chances of gaining traction on Super Tuesday, as noted by an advisor who spoke to the Washington Post.
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