Corporate leaders and wealthy donors want a say | Wilnesh News

Republican presidential candidate and former US President Trump delivers a speech at a campaign event in Freeland, Michigan, USA on May 1, 2024.

Brendan McDermid | Reuters

Former President Donald Trump and people close to him are fielding calls from corporate leaders and wealth donors eager to share who they think Trump should choose as his running mate, according to people familiar with the matter.

Ike Perlmutter, billionaire, former chairman Marvel EntertainmentTell Trump he thinks the former president should choose the House of Representatives. Alice StefanikRN.Y., according to a person briefed on the conversation.

Rupert Murdoch has hinted to several friends in Trump’s social circle that he would be happy with Republican candidates, including Virginia Gov. Glenn Youngkin, according to people familiar with the matter. .

Billionaire Trump supporters in the real estate industry like Republican Sen. Tim Scott, according to people who have spoken with him. These are other sources for this story, granted anonymity to recount private conversations.

Trump also It is said Larry Ellison, chairman of Oracle Corp. and a huge Republican donor, launched a campaign against Scott.

A Fox spokesman, who is still processing Murdoch’s press request, declined to comment. A spokesman for Perlmutter did not respond to CNBC’s request for comment.

Some VP shortlists are promoted primarily by one or two super-powerful backers. But others are more popular with Trump supporters.

Florida Republican Sen. Marco Rubio showed off his popularity last weekend at the Four Seasons event in Palm Beach, Florida, where wealthy Republicans gathered for the Republican National Committee’s spring meeting.

One person who attended the retreat said Rubio was clearly the ideal speaker for donors to take photos with. Other vice presidential contenders at the weekend meeting included Stefanik, Scott and North Dakota Gov. Doug Burgum. The retreat also included a lunch with Trump at Mar-a-Lago.

Populists worry about donors

Some of Trump’s wealthiest supporters have equally strong opinions about who the former president should be no Opt-in his ticket.

Some major donors have expressed hope that Trump will choose a stable pick who can help implement key policies related to his industry if the Republican is elected in November.

“I think some of Trump’s trade agenda is very concerning to a lot of donors, and they want someone out there who can offer a different perspective than the 10 percent. Tariffs across the board,” said Marc Short, former chief of staff to Trump Vice President Mike Pence.

That may help explain why some influential Trump donors are particularly wary of Ohio Republican Sen. Vance, according to people close to the Trump campaign.Vance is widely regarded as a strong contender in the vice presidential election. He is an Ivy League-educated populist who supports higher tariffs and Active business regulation.

Entrepreneur Vivek Ramaswamy also has influential critics. “It won’t be Vivek,” said a Republican lobbyist close to senior party officials.

The lobbyist said opposition to Ramaswamy is so deep that some donors have actually threatened to halt their efforts to support the entire party if the former primary contender is Trump’s pick for vice president. support.

For some RNC aides, lobbyists say, the message from donors to Ramaswamy is “Oh my God. If it’s him, I’m out.”

money race

Other donors are more interested in how a running mate could help elect Trump than what a potential vice president might bring to the office.

Some sources say the most desirable quality in this regard is a good fundraising record.

Trump has struggled to keep up with President Joe Biden’s fundraising efforts. In March, the former president’s campaign raised $15 million, while Biden’s reelection campaign raised $43 million, according to Federal Election Commission records.

Rubio, Stefanik, Scott and Burgum have all been privately viewed by Trump as top candidates with close ties to top business leaders. Those connections could boost Trump’s fundraising efforts if one of them is selected as his running mate, people familiar with the matter said.

Burgum can even help self-financing Trump’s campaign, just as he did during the Republican presidential primaries.

Rubio, Stefanik and Scott also have their own fundraising networks and could potentially bring something even more valuable to Trump’s campaign: new donors.

“Donor Leverage”

Backing the winning horse in the presidential or vice presidential race can pay huge dividends for donors if the electoral votes end up in the White House.

“Trump is very transactional, so having a close relationship with Vice President Trump provides leverage for donations,” said Marc Short, former chief of staff to Vice President Mike Pence.

For example, if a donor close to the vice president is concerned about trade and tariffs, they could say to the White House, “Before you adopt trade policy, I at least want to be heard,” Short said.

But there’s a problem: Trump has been president for one term, and he’s comfortable navigating Washington politics. So if he’s re-elected, he may not look to the vice president for guidance as he did in his first term.

“I do think he’s leaning heavily on Pence because he didn’t have that experience in Washington, and now he feels like he has that experience and feels he doesn’t need a vice president who is as active,” Short said.

Likewise, Trump is not looking for a running mate to help him build a bridge to business.

Instead, Trump is more likely to prioritize a vice president he believes will be unwaveringly loyal to him. Trump has often complained that he felt betrayed when Pence refused to block the certification of the 2020 election results on January 6, 2021.

For now, however, Trump is in no rush to introduce his running mate to the world.

Trump has spent much of his time in a New York courtroom on trial for allegedly falsifying dozens of business records to cover up hush-money payments to porn stars.