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Powerful Republican donors Ken Griffin and Nelson Peltz are reconsidering their support for Ron DeSantis as a US presidential candidate. Concerns have arisen due to DeSantis’s shift towards the right and his interventionist policies. Griffin takes issue with DeSantis’s recent crackdown on teaching about gender and sexuality, as well as his ongoing dispute with Disney. Peltz, on the other hand, disagrees with DeSantis’s stance on abortion.
DeSantis, once seen as a strong contender against Donald Trump for the Republican nomination, has seen a decline in the polls, raising doubts about the effectiveness of his 2024 White House bid.
Withdrawal of support from donors like Griffin and Peltz, who are prominent hedge fund managers and among the top taxpayers in Florida, could further damage DeSantis’s campaign. Griffin, who previously contributed $5 million to DeSantis’s re-election campaign in 2022, has become unsettled by DeSantis’s policies that undermine individual rights and liberties. Meanwhile, Peltz finds DeSantis’s position on abortion too extreme.
Griffin, when asked about specific candidates, emphasized the importance of policies that strengthen democracy and protect individual rights and freedoms. He also expressed his commitment to economic prosperity, quality education, community safety, and national defense. Similarly, Peltz is reconsidering his support for DeSantis due to the governor’s extreme stance on abortion.
DeSantis is facing a significant decline in support from business figures who were once considered his staunch supporters. This comes at a critical time for the governor, who recently sought support from wealthy backers in a fundraiser. Griffin and Peltz have not met with DeSantis for months or provided financial support since his candidacy announcement in May.
The DeSantis campaign heavily relies on donations from wealthy individuals. Only a small portion of the $20.1 million raised by DeSantis in the second quarter came from small donors. However, the candidate has been spending large sums on the campaign.
In an attempt to outshine Trump, DeSantis has adopted a more conservative stance on issues such as gay rights, abortion, and immigration. These positions have started to alienate some key supporters. For example, DeSantis signed a six-week abortion ban in Florida, imposing some of the strictest restrictions in the nation.
Griffin, who relocated his hedge fund Citadel from Chicago to Miami, has been critical of DeSantis’s battle with Disney over the “Don’t Say Gay” bill. He believes this feud sends a negative message about doing business in Florida and thinks the governor should prioritize job creation. Peltz, who previously had a dispute with the Disney board, is also unsatisfied with DeSantis’s position.
Earlier this year, billionaire Republican donor Thomas Peterffy halted his plans to fund DeSantis’s campaign due to the candidate’s stance on abortion and book banning. Despite losing some big supporters, DeSantis remains committed to his beliefs. The campaign spokesperson expressed gratitude to grassroots supporters and major donors who have contributed to building a strong organization.
Additional reporting by Lauren Fedor in Washington
*This story has been amended to clarify that Ken Griffin was not a supporter of Donald Trump.
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