Eric J. Tanenblatt, a prominent fund-raiser for former Gov. Nikki Haley of South Carolina, woke up in his Milwaukee hotel room to an influx of enthusiastic text messages and emails from donors who expressed their admiration for Haley’s debate performance. Many donors, including those who have not yet committed to a candidate, singled out Haley as the standout of the night. This raises the question of whether her performance will result in an increase in fundraising.
For years, Republican donors have been searching for an alternative to former President Donald J. Trump. As a result, donors were a crucial audience for Wednesday night’s debate, and it appears that the candidates’ performances may have translated into a surge in contributions. Haley’s campaign, for example, reported raising more money online in the 24 hours after the debate than on any other day since the start of her campaign.
Former Vice President Mike Pence also experienced an uptick in support, according to his campaign. The immediate feedback reflected the preferences of major Republican donors, who gravitated towards candidates with authoritative yet not obnoxious demeanors, established resumes, and hawkish foreign policy views. However, some major donors downplayed the significance of these immediate returns, recognizing that Trump’s popularity with small-dollar donors remains a significant factor.
While some candidates, such as Vivek Ramaswamy, appealed to small-dollar donors, they rankled high-dollar donors with their bombastic and confrontational style. Other candidates, like Senator Tim Scott of South Carolina, may have struggled to stand out in the crowded and fast-paced format of the debate, but their campaign finances are less of a concern. For instance, Scott had $21 million on hand at the end of June and has seen significant advertising support.
Overall, the debate marked the beginning of a new chapter for many candidates, including Governor Ron DeSantis of Florida, who had high poll numbers but did not make a significant impact during the debate. However, DeSantis’s campaign is rolling out new ads, signaling a renewed effort to gain momentum. Pence, on the other hand, spoke the most during the debate, which surprised many donors and could boost his appeal to evangelicals, especially in Iowa, a critical state for his campaign.
In conclusion, while it is too early to determine the long-term impact of the debate performances on fundraising, there were clear indications of increased support for candidates like Haley and Pence. The next few weeks will be crucial in determining whether these candidates can sustain and build upon this momentum.
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