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☆ Netflix Co-founder Becomes One of the Biggest Democratic Donors to Call for Biden to Step Aside
▼ + stars: | 2024-07-03 | by ( Theodore Schleifer | More About Theodore Schleifer | ) www.nytimes.com time to read: +1 min

Reed Hastings, the Netflix co-founder who in recent years has become one of the biggest donors to the Democratic Party, called on Wednesday for President Biden to relinquish his place atop of the Democratic presidential ticket. Mr. Hastings became one of the first to say publicly what many Democratic megadonors are saying privately. “Biden needs to step aside to allow a vigorous Democratic leader to beat Trump and keep us safe and prosperous,” he said in an email with The Times. Mr. Biden and White House officials have said he has no plans to step aside. Mr. Hastings and his wife, Patty Quillin, during the Trump era joined the Democratic Party’s most generous donor couples.

Persons: Reed Hastings, Biden, Hastings, “ Biden, ”, Patty Quillin, Trump, Mr Organizations: Netflix, Democratic Party, Democratic, Trump, The Times, White, Democrats

Wealthy Democratic donors who believe a different nominee would be the party’s best chance to hold the White House are increasingly gritting their teeth in silence about President Biden, fearful that any move against him could backfire. As of late Tuesday, the party’s moneyed class was carefully monitoring post-debate poll results and the positioning of elected Democrats for signs that support for Mr. Biden was cracking. Earlier moves by donors to mount their own campaigns to pressure Mr. Biden to step down as the party’s presidential candidate have either fizzled out or prompted pushback from fellow contributors and operatives. The deadlock reflects a broader paralysis within the party about how to handle a fraught situation that could inflame intraparty rifts, alienate key constituencies, damage personal relationships and benefit a Republican candidate most of the donors believe poses a threat to democracy.

Persons: Biden, pushback Organizations: Republican

☆ Biden Campaign Will Try to Reassure Big Donors
▼ + stars: | 2024-07-01 | by ( Michael D. Shear | Theodore Schleifer | ) www.nytimes.com time to read: 1 min

President Biden’s top campaign official is scheduled to hold a crucial conference call with donors on Monday to try to convince them that Mr. Biden can still win the race against former President Donald J. Trump. The call with the national finance committee, scheduled hastily on Sunday, is the Biden campaign’s most formal attempt yet to tamp down panic within the ranks of major donors since Thursday’s debate. Some individual donors have received direct communication from campaign officials, and Biden fund-raisers say communication picked up over the weekend, according to people close to the conversations. The call on Monday is to be hosted by Jennifer O’Malley Dillon, the campaign chair. Preserving the donor base will be critical to the president’s argument for staying in the race, many of Mr. Biden’s allies have acknowledged.

Persons: Biden’s, Biden, Donald J, Trump, Jennifer O’Malley Dillon

☆ Want to Be Trump’s Running Mate? Make Sure He Knows About Your Donors.
▼ + stars: | 2024-06-30 | by ( Michael C. Bender | Theodore Schleifer | ) www.nytimes.com time to read: 1 min

During his 2016 campaign, Donald J. Trump orchestrated a takeover of the Republican Party in part by blasting wealthy political donors as the root of corruption and delivering a populist message that appealed to working-class voters. Eight years later, one of his key decision points in choosing a running mate is connections to the superrich. As the end of the selection process approaches, with an announcement expected in the next two weeks after months of suggestion and misdirection, Republican hopefuls are looking to convince Mr. Trump that they have the financial backing behind them that could help swing the race. There are other factors that could make for a good match. Mr. Trump is said to be considering candidates with discipline on the campaign trail, who will not steal his precious spotlight and would fare well in a debate with Vice President Kamala Harris.

Persons: Donald J, Trump, misdirection, Kamala Harris Organizations: Republican Party

There were discussions with political advisers about arcane rules under which Mr. Biden might be removed from the ticket against his will and replaced at or before the Democratic National Convention, according to a person familiar with the effort. In Silicon Valley, a group of megadonors, including Ron Conway and Laurene Powell Jobs, were calling, texting and emailing one another about a situation they described as a possible catastrophe. The donors wondered about whom in the Biden fold they could contact to reach Jill Biden, the first lady, who in turn could persuade her husband not to run, according to a person familiar with the conversations. A Silicon Valley donor who had planned to host an intimate fund-raiser featuring Mr. Biden this summer decided not to go through with the gathering because of the debate, according to a person told directly by the prospective host. Another major California donor left a debate watch party early and emailed a friend with the subject line: “Utter disaster,” according to a copy of the email.

Persons: Biden’s, Biden, Ron Conway, Laurene Powell Jobs, Jill Biden Organizations: Democratic, Democratic National Convention Locations: America, Silicon Valley, California

☆ The Pro-Israel Donor With a $100 Million Plan to Elect Trump
▼ + stars: | 2024-06-25 | by ( Theodore Schleifer | ) www.nytimes.com time to read: +1 min

As the Nevada caucuses drew to a close in February, Donald J. Trump and several top aides gathered for a quick dinner in a suite atop his hotel in Las Vegas before he descended and declared victory. But the Republican billionaire at the center of attention during the meal was not Mr. Trump — it was Dr. Miriam Adelson. The former president, by then on a glide path to the Republican nomination, wanted financial support from Dr. Adelson, a conservative megadonor, and she had a request or two. Be less bombastic, she told him, and speak more directly about the economy. But more important, she made clear to Mr. Trump and his top aides, Susie Wiles and Chris LaCivita, be patient.

Persons: Donald J, Trump, Miriam Adelson, Adelson, Susie Wiles, Chris LaCivita, Nikki Haley Organizations: Trump, Republican Locations: Nevada, Las Vegas

When the White House chief of staff, Jeffrey Zients, met with dozens of top executives in Washington this month, he encountered a familiar list of corporate complaints about President Biden. The executives at the Business Roundtable, a group representing some of the country’s biggest corporations, objected to Mr. Biden’s proposals to raise taxes. While the meeting was not antagonistic, it was indicative of three and a half years of executive grousing about Mr. Biden. Business leaders have criticized his remarks on “corporate greed” and his appearance on a union picket line. A number of prominent figures in Silicon Valley and on Wall Street — including the venture capitalists David Sacks and Marc Andreessen, and the hedge fund magnate Kenneth Griffin — have grown increasingly vocal in their criticism of Mr. Biden, their praise of former President Donald J. Trump, or both.

Persons: Jeffrey Zients, Biden, ”, —, Lina Khan, David Sacks, Marc Andreessen, Kenneth Griffin —, Mr, Donald J, Trump Organizations: White House, Business, Biden, Federal Trade Commission Locations: Washington, Silicon Valley

☆ Election Updates: Trump has rapidly eroded Biden’s edge in the 2024 cash battle.
▼ + stars: | 2024-06-21 | by ( Shane Goldmacher | Theodore Schleifer | ) www.nytimes.com time to read: +10 min

Overall, Mr. Trump was a daunting $100 million behind Mr. Biden at the start of April. And for the first time, Mr. Trump’s principal campaign committee had more cash than Mr. Biden’s: $116.5 million to $91.6 million. report does not translate to boots on the ground tomorrow,” Dan Kanninen, Mr. Biden’s battleground states director, said in an interview. So far, Mr. Biden has enjoyed a tremendous advertising advantage over Mr. Trump. Hopefully that changes as we get even closer.”For now, Mr. Biden is racing to replenish his coffers in June.

Persons: Donald J, Trump, Biden, outpacing, Trump’s, ”, Brian Derrick, ” Mr, Timothy Mellon, “ What’s, Dan Kanninen, Donald Trump, ” Steven Cheung, Mr, Joe, President Trump, Cheung, Jimmy Kimmel, Barack Obama, Erin Schaff, Nikki Haley, Haley’s, John Paulson, Stephen A, MAGA, Rufus Gifford, Mitt Romney, Barack Obama’s, Jon Reinish, He’s, Obama, Terry McAuliffe, Bill Clinton, — Andy Beshear, JB Pritzker, Gretchen Whitmer Organizations: Mr, Democratic National Committee, Republican National Committee, Trump, Biden, Democratic, Republican, The New York Times, Blackstone, Make, Inc, MAGA Inc, Hollywood, Illinois Locations: New York, Los Angeles, Trump’s Florida, Mar, AdImpact, Pennsylvania, Georgia, Virginia, Kentucky, Michigan, Atlanta

☆ Trump Has Rapidly Eroded Biden’s Edge in 2024 Cash Battle
▼ + stars: | 2024-06-20 | by ( Shane Goldmacher | Theodore Schleifer | ) www.nytimes.com time to read: +1 min

In May, Mr. Biden’s campaign and its joint operation with the Democratic National Committee raised $85 million, compared with $141 million for Mr. Trump and the Republican National Committee, according to the two campaigns. In April, the Trump team also brought in $25 million more than the Biden team. The Trump operation and R.N.C. A partial count on Thursday, revealed in Federal Election Commission filings, showed that Mr. Trump had amassed a war chest of at least $170 million with the party. Overall, Mr. Trump was a daunting $100 million behind Mr. Biden at the start of April.

Persons: Donald J, Trump, Biden, outpacing Organizations: Mr, Democratic National Committee, Republican National Committee, Trump, Biden

☆ Timothy Mellon, Secretive Donor, Gives $50 Million to Pro-Trump Group
▼ + stars: | 2024-06-20 | by ( Shane Goldmacher | Theodore Schleifer | ) www.nytimes.com time to read: +1 min

The group had only $34.5 million on hand at the end of April, and Mr. Mellon’s contribution accounted for much of the nearly $70 million that the super PAC raised in May. On Wednesday and Thursday, the super PAC began reserving $30 million in ads to air in Georgia and Pennsylvania around the Fourth of July holiday. Mr. Mellon is now the first donor to give $100 million in disclosed federal contributions in this year’s election. He was already the single largest contributor to super PACs supporting both Mr. Trump and Robert F. Kennedy Jr., who is running as an independent. Mr. Mellon has previously given $25 million to both.

Persons: Timothy Mellon, Donald J, Mellon, Trump, Robert F, Kennedy Jr Organizations: Trump, Make, Inc, Labor, PAC Locations: Georgia, Pennsylvania

☆ Kennedy Raises Just $2.6 Million, a Sign of Reliance on His Running Mate
▼ + stars: | 2024-06-19 | by ( Theodore Schleifer | More About Theodore Schleifer | ) www.nytimes.com time to read: +1 min

Robert F. Kennedy Jr.’s presidential campaign raised just $2.6 million in May, a paltry sum that speaks to how reliant his bid has become on his running mate, the wealthy Silicon Valley lawyer Nicole Shanahan. The Kennedy campaign raised less in May than it had in any previous month in 2024, according to filings on Wednesday with the Federal Election Commission. That was in large part because Ms. Shanahan, who has poured millions into their independent presidential campaign, barely contributed any additional money in May. The total raised by Mr. Kennedy was essentially the same as what he raised in April, not counting Ms. Shanahan: He brought in $10.7 million that month, but $8 million came from her. Earlier, when he announced her as his running mate in March, she almost immediately threw $2 million behind the campaign.

Persons: Robert F, Kennedy Jr, ’, Nicole Shanahan, Kennedy, Shanahan Organizations: Federal, Commission

Mr. Selkis, who runs the crypto data firm Messari, was one of a couple hundred attendees at an event celebrating Mr. Trump’s series of nonfungible tokens, the digital collectibles known as NFTs. When he reached the lectern, Mr. Selkis turned to face the former president. “There’s 50 million crypto holders in the U.S.,” the executive declared. The PACs are not planning to participate in the presidential election, a spokesman for the groups said. But top crypto executives have tried to mobilize the industry behind Mr. Trump, who has reciprocated by praising digital currencies and hosting executives at Mar-a-Lago.

Persons: Ryan Selkis, Donald J, Trump, Selkis, “ Organizations: Mar, Lago, Mr Locations: U.S

☆ ‘It’s Not 2016 Anymore’: Trump Finds Friends in Silicon Valley
▼ + stars: | 2024-06-06 | by ( Theodore Schleifer | ) www.nytimes.com time to read: +1 min

Soon, the three Republicans — Mr. Vance, Mr. Trump Jr. and Mr. Vance’s friend, David Sacks, the Silicon Valley entrepreneur — were getting to know one another for a half-hour or so in a private dining room of the Conrad Hotel. It was there, at that impromptu post-dinner hang hours after Mr. Trump became the presumptive Republican nominee, that Mr. Sacks signaled that he was all-in for Trump 2024. On Thursday evening, this time on his own California turf, it will be Mr. Sacks’s turn to host Team Trump. The former president himself is flying to San Francisco to attend a fund-raiser at Mr. Sacks’s $20 million home on the toniest street in the city’s tony Pacific Heights neighborhood. The private event, the first campaign fund-raiser since Mr. Trump’s criminal conviction last week, is expected to raise north of $12 million, according to people involved in the gathering.

Persons: J.D, Vance, Donald Trump Jr, — Mr, Trump, Vance’s, David Sacks, —, Conrad, Sacks, Sacks’s Organizations: Republican, Trump Jr, Trump, Team Trump, tony Locations: Ohio, California, San Francisco, Heights

Betting on AckmanBill Ackman has gained new prominence in recent months for his outspoken presence on social media. But he has also made riches for his investors and himself — and now others are hoping he’ll continue to do so. His Pershing Square Capital Management has sold a 10 percent stake for just over $1 billion to an array of outside investors, giving the hedge fund a lofty valuation. The question is whether Ackman’s newfound fans on social media will follow him as he grows his empire, including through a new listed fund and, eventually, an I.P.O. That has bolstered Ackman’s paper worth to $8 billion, Bloomberg calculates, making him 333rd among the world’s wealthiest people.

Persons: Bill Ackman, —, he’ll, BTG, Marc Lasry, Doug Hirsch Organizations: Pershing, Capital Management, Arch Capital, Iconiq Investment Management, Bloomberg

☆ Trump and R.N.C. Announce $141 Million Haul in May
▼ + stars: | 2024-06-03 | by ( Theodore Schleifer | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump and the Republican National Committee collected a combined $141 million in May, campaign officials said on Monday, an enormous haul fueled in part by his criminal conviction last week. That sum should help Mr. Trump continue his quest to close his yawning financial gap with President Biden and his own allied groups. The $141 million figure matches what Mr. Biden and the Democratic Party raised in March and April combined. The fund-raising was powered by what Lara Trump, the Republican National Committee co-chairwoman and the former president’s daughter-in-law, said on Sunday was $70 million raised by Mr. Trump and the R.N.C. in the 48 hours after Mr. Trump’s conviction.

Persons: Donald J, Trump, Biden, Mr, Trump’s, Lara Trump Organizations: Republican National Committee, Democratic Party, Mr

☆ A phone call between Trump and conservative tech billionaire Peter Thiel reportedly turned 'pretty contentious'
▼ + stars: | 2023-09-25 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Tech investor Peter Thiel had a heated phone call in recent months with Donald Trump, Puck reported. Thiel's public support for Trump wavered in recent years, and apparently, Trump noticed. Apparently, Trump was "fuming" because the former president had supported Thiel-backed candidates like J.D. Thiel even left Facebook's board of directors to give his full attention to supporting Republican candidates, including mentees J.D. A year later, however, Peter Thiel took a step back from politics and no longer planned to support candidates in 2024.

Persons: Peter Thiel, Donald Trump, Puck, Thiel, Trump, —, Puck's Theodore Schleifer, Vance, Blake Masters, wouldn't, mentees J.D, Thiel's, Masters, Kari Lake Organizations: Republican National Convention, Trump, Service, Republican, PayPal, Facebook, RNC, Wall Street, Thiel, Kyrsten, Arizona, The New York Times Locations: Arizona

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