Trump faces warning signs that his fundraising prowess may have limits in 2024 campaign

Former US President Donald Trump attends a campaign event in Waterford Township, Michigan, on Feb. 17, 2024. (REUTERS)
Short Url
Updated 22 February 2024
Follow

Trump faces warning signs that his fundraising prowess may have limits in 2024 campaign

  • Trump’s diminished cashflow presents an alarming picture of the overwhelming favorite to be the GOP’s presidential nominee
  • Despite threats of vengeance by Trump, some donors are instead backing his last standing rival, former UN Ambassador Nikki Haley

WASHINGTON: Donald Trump’s legendary ability to raise massive sums of political cash may be on a collision course with a new and unpleasant reality.

Campaign finance reports released this week flashed bright warning lights, showing two key committees in his political operation raised an anemic $13.8 million in January while collectively spending more than they took in. A major driver of those costs was millions of dollars in legal fees from Trump’s myriad of court cases.
The latest numbers offer only a partial snapshot of the Trump operation’s finances because other branches won’t have to disclose their numbers until April. But Trump’s diminished cashflow nonetheless presents an alarming picture of the overwhelming favorite to be the GOP’s presidential nominee, particularly to would-be donors who aren’t eager to subsidize Trump’s legal challenges.
Despite threats of vengeance by Trump, some are instead backing his last standing rival, former UN Ambassador Nikki Haley, who outraised Trump’s primary campaign committee by nearly $3 million last month.




Republican presidential candidate former UN Ambassador Nikki Haley, center, talks with a young supporter after speaking at a campaign event on Feb. 19, 2024, in Camden, South Carolina. (AP)

In a statement, Trump spokeswoman Karoline Leavitt did not directly address the campaign’s finances.
“President Trump’s campaign is fueled by small-dollar donors across the country from every background who are sick and tired of Crooked Joe Biden’s record-high inflation, wide open border invasion, crime and chaos,” Leavitt said. “Voters don’t want four more years of misery and destruction.”
When asked specifically about the numbers, a Trump spokesman texted a link to a Fox News story published Tuesday, stating that Trump was expected to raise $6 million at a fundraiser held that day.
Legal fees dominated Trump’s January expenditures, amounting to $3.7 million of $15.3 million spent by the two committees. One of the committees, Save America, also held nearly $2 million in unpaid legal debts, the records show.
Save America was bolstered with a cash infusion from a pro-Trump super PAC.
The committee received another $5 million “refund” installment from the super PAC “Make America Great Again Inc.,” which was initially seeded through a $60 million from Save America in the fall of 2022. Instead, Trump campaign officials opted to claw that money back in installments, a running total that has now reached $47 million, records show.
That left Trump’s two committees with $36.6 million in cash on hand compared to Biden’s $132 million stockpile, which he and the Democratic National Committee raised $42 million for in January.
“His endless drama and legal bills will deplete the Republican Party and bring even more electoral losses,” Haley’s communications director, Nachama Soloveichik, said in a statement.
The latest tranche of legal bills comes at a sensitive time, as Trump is orchestrating a takeover of the cash-strapped Republican National Committee, where he plans to install his daughter-in-law, Lara Trump, as the party’s No. 2 official. Some donors and RNC committee members worry that Trump may soon turn to the RNC to help cover his legal bills, too, considering Trump has made claims of legal persecution a pillar of his campaign.
“Every single penny will go to the number one and the only job of the RNC,” Lara Trump said during a recent interview on the conservative network NewsMax, which she added was to focus on electing Donald Trump.




Lara Trump, daughter-in-law to former US President and 2024 presidential hopeful Donald Trump, signs a campaign material after speaking at a VFW Hall in Beaufort, South Carolina on Feb. 21, 2024. (AFP)

What’s not clear is how much of a drag his prodigious legal spending will be on his finances.
The RNC is also facing headwinds of its own, reporting $8.7 million on hand at the end of January, reports show.
Though Trump’s financially strained position is unusual for the odds-on favorite to clinch a major party’s nomination, there is ample time to reenergize his fundraising. It’s still early in the campaign and — assuming he becomes the nominee — he will be able to raise money in concert with the RNC, which should enable him to receive a check from a single donor worth upwards of $1 million. That’s an advantage that Biden and the DNC currently hold over him.
Over the past year, he’s also used pivotal moments in his ongoing legal drama, including his indictment hearings, to open a spigot of campaign cash from his large base of conservative supporters, who chip in small amounts online.
Still, Trump’s cash woes place him in a familiar, if unwelcome, position that echoes the 2020 presidential race, when he and his aides plowed through $1 billion and a large cash advantage over Biden amid profligate spending.
Trump approached the 2024 race with over $100 million, a substantial amount of which was raised in the early days after his 2020 election loss to Biden, when he bombarded supporters with solicitations for an “election defense fund.” This time, legal fees have proven to be a drain, costing over $80 million over the past two years, records show.
Democrats have reacted with glee.
“It’s been a tough couple of weeks if you are Donald Trump and also like money,” said Ammar Moussa, a Biden campaign spokesman. “The RNC had its worst fundraising year in decades, is hemorrhaging cash, and now Trump enters the general election with the weakest operation in recent history.”


National security trial for Hong Kong’s Tiananmen vigil organizers to open

Updated 4 sec ago
Follow

National security trial for Hong Kong’s Tiananmen vigil organizers to open

  • Three government-vetted judges will preside over the trial, which is expected to last 75 days

HONG KONG: Two pro-democracy activists behind a group that for decades organized a vigil that commemorated people killed in Beijing’s Tiananmen Square crackdown in 1989 will stand trial on Thursday, in another landmark case brought under a China-imposed national security law that has practically crushed protests in the semiautonomous Chinese city.
Critics say their case shows that Beijing’s promise to keep the city’s Western-style civil liberties intact for 50 years when the former British colony returned to Chinese rule in 1997 has weakened over time. But the city’s government said its law enforcement actions were evidence-based and strictly in accordance with the law.
Chow Hang-tung and Lee Cheuk-yan, former leaders of the Hong Kong Alliance in Support of Patriotic Democratic Movements of China, were charged with incitement to subversion in September 2021 under the law. They are accused of inciting others to organize, plan or act through unlawful means with a view to subvert state power, and if convicted, they face a maximum penalty of 10 years in prison.
A third leader of the group, Albert Ho, is expected to plead guilty, his lawyer said previously. This might result in a sentence reduction.
Before sunrise, dozens of people were in line outside the court building to secure a seat in the public gallery under a cold-weather warning.
Tang Ngok-kwan, a former core member of the alliance, has been queuing since Monday afternoon. He said he wanted to show support for his former colleagues in detention.
“They use their freedom to exchange for a dignified defense,” he said. “It’s about being accountable to history.”
Former pro-democracy district councilor Chan Kim-kam, a former vigil-goer and also Chow’s friend, stayed awake the whole night outside the building.
“We need to witness this, regardless of the results,” she said.
Trial expected to last 75 days
Three government-vetted judges will preside over the trial, which is expected to last 75 days. Videos related to the alliance’s years of work will be part of the prosecution evidence.
Chow, also a lawyer defending herself, tried to throw out her case in November, arguing the prosecution had not specified what “unlawful means” were involved. But the judges rejected her bid.
The judges explained their decision on Wednesday, saying the prosecution made it clear that “unlawful means” meant ending the Chinese Communist Party’s rule and violating the Chinese constitution. The prosecution accused the defendants of promoting the call of “ending one-party rule” by inciting people’s hatred of and disgust over the state’s power, the judges said.
The prosecution, they said, had pointed to the defendants’ media interviews and public speeches related to the alliance to sustain the group’s operation and promote that call to others after the security law took effect in June 2020. Although the scope of the charge was relatively wide, the prosecutors had provided sufficient details for the defendants, they added.
The court will not allow the trial to become a tool of political suppression in the name of law, the judges said.
Prosecutors are expected to detail their case this week.
Urania Chiu, lecturer in law at Oxford Brookes University, said the case goes to the heart of freedom of expression.
“The prosecution case hinges on the argument that the Alliance’s general call for ‘bringing the one-party rule to an end’ constitutes subversion without more, which amounts to criminalizing an idea, a political ideal that is very far from being actualized,” she said.
Sarah Brooks, Amnesty International’s Deputy Regional Director, alleged the case was about “rewriting history and punishing those who refuse to forget the victims of the Tiananmen crackdown.”
Alliance’s disbandment a blow to civil society
The alliance was best known for organizing the only large-scale public commemoration of the 1989 crackdown in China for decades. Tens of thousands of people attended it annually until authorities banned it in 2020, citing anti-pandemic measures.
After COVID-19 restrictions were lifted, the park was occupied instead by a carnival organized by pro-Beijing groups. Those who tried to commemorate the event near the site were detained.
Before the alliance voted to disband in September 2021, police had sought details about the group, saying they had reasonable grounds to believe it was acting as a foreign agent. The alliance rejected the allegations and refused to cooperate.
Chow, Tang, another core member of the alliance were convicted in a separate case in 2023 for failing to provide authorities with information on the group and were each sentenced to 4 1/2 months in prison. But the trio overturned their convictions at the city’s top court in March 2025.
Chow, Lee and Ho have been in custody, awaiting the trial’s opening, which has been postponed twice.
Beijing said the 2020 security law was necessary for the city’s stability following the 2019 protests, which sent hundreds of thousands of people onto the streets.
The same law has convicted dozens of other leading pro-democracy activists, including pro-democracy former media mogul Jimmy Lai last month. Dozens of civil society groups have closed since the law took effect.