ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Koch Network Halts Funding Nikki Haley's Presidential Bid After South Carolina Primary Loss

The announcement came just a day after she lost to former Donald Trump in South Carolina primaries.
PUBLISHED FEB 26, 2024
Republican presidential candidate former U.N. Ambassador Nikki Haley | Getty Images | Photo by Michael M. Santiago
Republican presidential candidate former U.N. Ambassador Nikki Haley | Getty Images | Photo by Michael M. Santiago

Americans for Prosperity Action, which is backed by conservative billionaire Charles Koch, announced on Sunday that it will stop funding Nikki Haley’s presidential campaign. The announcement came a day after she lost to former President Donald Trump in her home-state primary in South Carolina. The organization said it still endorses Haley for president, but its support will now be symbolic with words and not cash. The officials also stated that AFP Action has decided to refocus its mission on United States Senate and House races, according to an internal email memo from CEO Emily Seidel, reviewed by Politico.



 

The Koch Network’s flagship political group channeled its support to Haley, a Donald Trump opponent in 2024. However, after her loss, AFP Action withdrew its spending toward the presidential primary.

The former South Carolina governor and UN ambassador said that she will continue with her campaign. In the staff memo, AFP Action CEO Emily Seidel wrote that the group had to “take stock” of its 2024 elections strategy.



 

“Nikki Haley has shown us again and again that we made the right decision in supporting her candidacy and she continues to have our strong endorsement, but given the challenges in the primary states ahead, we don’t believe any outside group can make a material difference to widen her path to victory,” Seidel wrote in the email according to The Washington Post.

The campaigns for both Trump and Haley saw a big expenditure at the start of the year, according to Federal Election Commission filings from January. However, AFP Action’s decision to move its efforts away from the presidential primary is a big blow to Haley, who is already struggling in the primaries.



 

The former South Carolina governor has taken several hits since the start of the election year. Previously, billionaire Reid Hoffman also pulled back from funding Haley’s presidential bid.

Despite the setbacks, Haley has announced that she will continue with her campaign through Super Tuesday on March 5. Her campaign said that AFP Action’s decision to halt the funding has not changed the outlook of her campaign and she still has the resources to stay afloat.

“AFP is a great organization and ally in the fight for freedom and conservative government. We thank them for their tremendous help in this race,” Haley’s campaign said in a statement, according to CNBC. Her campaign further claimed that they had over $1 million coming in from grassroots conservatives in the last 24 hours.

AFP Action officials had previously stressed that the Senate would be a top priority for its investments. The organization expressed that flipping the chamber represented the best chance of its interest in guarding against full Democratic control in Washington.

Thus, from now on, AFP Action will channel its resources to finance Republican campaigns on the congressional level. So far, the organization has endorsed five candidates running for Senate and 19 candidates running for House seats.

Trump’s win in the South Carolina primary marks a significant step towards his path to a Republican nomination. Trump is already being regarded as the presumptive nominee as he has won GOP primaries in several other states like Iowa, Nevada, New Hampshire, and the U.S. Virgin Islands.



 

MORE ON MARKET REALIST
Harvey had his teeth out in laughter for several seconds before he regained his composure.
9 hours ago
Many people are looking to cut expenses this holiday season and could fall into the trap.
9 hours ago
This will make the members happy as the items in question are the store's staples.
17 hours ago
Turns out that even after all these years, the 51-year-old is being paid by Fox.
17 hours ago
High building prices and mortgage rates have dissuaded people from buying new homes.
17 hours ago
Ahead of the holiday season, this is not the news that these people would have wanted to hear.
1 day ago
Steve Harvey could not hide his shock at the answer and made his feelings known to the contestant.
1 day ago
Milan Singh sparked an interesting debate over what is the actual value of a $100k salary in 2025.
1 day ago
Harvey then said that making people do that was one of his goals as a professional.
1 day ago
The director of the National Economic Council said firms are hesitating to hire fresh graduates.
1 day ago
Viewers called her actions at the store disrespectful and Costco employees agreed.
1 day ago
Ahead of the holiday season, the company will want to minimize its losses as much as possible.
2 days ago
With organizations gearing up for AI disruptions, a lot is going to change for workers.
2 days ago
Both the Treasury Secretary and Economic Council director claimed that prices will ease in months.
2 days ago
Turns out that the vegetable does not take long to get back, and the stores might not replace on time.
2 days ago
Farley's comments are reflective of those of the President's from a recent interview.
2 days ago
The companies that were linked to the recalled products were Food To Live and Africa Imports.
5 days ago
This is perhaps the biggest incentive shoppers have received this year to become a member.
5 days ago
The tariffs on beef-exporting countries and resources have put pressure on the U.S. supply chain
5 days ago