Nikki Haley - the next US President ?

Wall Street megadonors warm to Nikki Haley as their anti-Donald Trump Republican

Former US ambassador to the UN praised for ‘muscular foreign policy’ and electability

Nikki Haley’s strong performances in the Republican presidential debates have won over several of the party’s big donors and intrigued other Wall Street figures this week, as she swung through New York seeking moneyed backers who want an alternative to Donald Trump.

The former US ambassador to the UN drew big names to New York events on Tuesday, among them a small meet-and-greet breakfast with financiers including BlackRock chief executive Larry Fink, and an evening fundraiser co-hosted by former Goldman Sachs president Gary Cohn.

Billionaire investor Stanley Druckenmiller, traditionally a big GOP donor, announced his support on Monday and New York-based donor Eric Levine said he would host a fundraiser for Haley in early December with Elliott Management executive Terry Kassel and Annie Dickerson, who has close ties with Elliott president Paul Singer.

Big donors have praised Haley’s foreign policy nous, her more moderate stance on abortion than that espoused by some of her Republican rivals, and electability.

Levine told the Financial Times that Haley had a “muscular foreign policy”, a “positive view of America”, a “rational position on abortion” — and “she’s not Donald Trump, who will lose”.

“Come on in, Paul,” Levine half-joked, referring to Singer. “The water’s fine.”

A series of New York Times/Siena College polls across Arizona, Georgia, Wisconsin, Michigan, Nevada and Pennsylvania in October showed Haley beating President Joe Biden in each of the six states that will be critical in deciding next year’s election. Haley’s average performance among registered voters — 46 per cent for her and 38 per cent for Biden — was stronger than that for Florida governor Ron DeSantis, her nearest competitor, and former president Trump.

JPMorgan Chase chief executive Jamie Dimon, a Democrat, has held several phone calls with Haley and been impressed with her intelligence, reasonableness and open mindedness, according to a person familiar with the conversations. Axios reported on Tuesday that Dimon “believes she has the potential to bring the country together”.

“Nikki is on fire,” said Bill Strong, an investor and Haley donor. “She has earned it.”

Haley also appears to be benefiting from the decision by Tim Scott, a onetime donor darling, to drop out of the race. Cohn had previously hosted a fundraiser for Scott; Levine was also a supporter of the South Carolina senator.

A spokesperson for Cohn said had hosted “several such events” and was “interested in giving candidates a chance to have their policy platforms heard and to have a discussion on smart economic policies”.

Meanwhile, pro-Haley groups are outspending pro-DeSantis groups on advertisements, according to AdImpact, even though the Florida governor’s donors have raised much more money this election cycle.

Haley’s campaign had $11.5mn on hand at the end of September and will launch a $10mn ad campaign in Iowa and New Hampshire — two states critical to the early stages of next year’s Republican primary race — starting in the first week of December.

Many wealthy financiers have been reluctant to back a Republican candidate given Trump’s strong lead in polls of likely primary voters. The former president is ahead of his GOP rivals in the early states — Iowa, New Hampshire and South Carolina — by almost 30 points.

Will Hurd, a former presidential candidate who supports Haley, told the FT that it was time for donors to make up their minds.

“We need the donors that have been on the sidelines, who want to see an alternative [to] Donald Trump,” Hurd said. “Now is the time to get in this race.”

Potential donors are testing the waters. The Fink gathering was structured as a meet and greet rather than a fundraiser, allowing Haley to make connections with investors and bankers who have not yet decided whether they want to back her or anyone else, said a person briefed on the event.

Citadel founder Ken Griffin told Bloomberg on Tuesday that he was “actively contemplating” whether to give to her campaign. Elliott’s Singer had “no plans now” to back a 2024 candidate, according to a person familiar with his thinking.

Only 14% of US voters say Joe Biden has made them better off

Americans for Prosperity Action, a super political action committee led by billionaire Charles Koch, has raised more than $70mn this year and is planning on backing a non-Trump Republican presidential candidate. The entity’s decision is expected well before the Iowa caucuses on January 15, the unofficial start of the primary season.

Other big donors have already picked their candidate. Some are on their second.

Bernie Marcus, the co-founder of Home Depot, announced his support for Trump this month. Ronald Cameron, an Arkansas poultry magnate, backed Haley after former vice-president Mike Pence dropped out of the race.

And Robert Bigelow, who gave more than $20mn to a pro-DeSantis super Pac in March, recently switched his support to Trump, telling the FT the former president would win the GOP nomination so long as he can avoid jail