Koch PAC Ends Nikki Haley Financial Support, Trump Odds Shorten

Posted on: February 26, 2024, 09:56h. 

Last updated on: February 26, 2024, 10:27h.

The Koch network’s Americans for Prosperity (AFP) super political action committee has terminated its financial support of Nikki Haley’s presidential campaign.

Nikki Haley Koch network 2024 odds
Nikki Haley has lost her richest campaign backer after suffering a devastating primary defeat in her home state of South Carolina. The Koch network announced over the weekend that its super PAC is moving its political money to congressional races. (Image: The New York Times)

The Charles Koch-funded super PAC has poured millions of dollars into the former South Carolina governor’s 2024 campaign. But after she lost her home state’s GOP primary over the weekend by roughly 20 percentage points, AFP is taking its deep-pocketed spending account elsewhere.

Given the challenges in the primary states ahead, we don’t believe any outside group can make a material difference to widen her path to victory,” said Emily Seidel, a senior advisor for AFP. “While we will continue to endorse her, we will focus our resources where we can make the difference. And that’s the US Senate and House.”

Along with his late brother, David Koch, Charles Koch controls Koch Industries, the multinational conglomerate that’s the second-largest privately held company in the US.

The company’s real estate arm, Koch Real Estate Investments, acquired the long-stalled Fontainebleau Las Vegas casino in 2021 for an undisclosed price. Koch financed the finishing of the 67-story blue building that had been a lingering Strip eyesore and a reminder of the US Great Recession. Fontainebleau Las Vegas opened in December 2023.

Trump Presumptive GOP Nominee

The odds of former President Donald Trump securing the Republican Party’s presidential ticket for a third consecutive presidential election cycle continue to shorten. The former casino magnate has won the first four GOP primaries in Iowa, New Hampshire, Nevada, and South Carolina.

Bettors on the political wagering exchange Smarkets give Trump a 92% chance of representing the conservative ticket in November. UK sportsbook William Hill has the odds at -1600, an implied chance of 94%. A $100 bet on that line nets just $6.25 if Trump indeed wins the 2024 Republican primary.

Trump, a longtime foe of the Koch network, blasted AFP’s support of Haley on his Truth Social media platform.

Americans for No Prosperity just announced that they are no longer supporting Nikki ‘Braindead’ (Birdbrain?) Haley. Charles Koch and his group got played for suckers right from the beginning,” Trump wrote. “What a waste of money!”

Despite not winning a single state outright and securing just 20 delegates to Trump’s 110 through four contests and the US Virgin Islands, Haley has pledged to carry on with her campaign.

“I said earlier this week that no matter what happens in South Carolina, I would continue to run for president. I’m a woman of my word,” Haley told her supporters Saturday after the latest setback to her White House campaign. “I’m not giving up this fight when a majority of Americans disapprove of both Donald Trump and Joe Biden.”

Haley Exit Forthcoming?

A Haley campaign spokesperson said the Republican raised more than $1 million in grassroots donations since the South Carolina defeat.

We have plenty of fuel to keep going,” said Haley spokesperson Olivia Perez-Cubas.

The Koch money running out, however, is a major blow to the former UN ambassador’s 2024 pursuit. Campaign finance records show AFP spent more than $32 million on Haley since publicly backing her in November.