FT News Briefing Swamp Notes: How money is shaping the 2024 US election
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Feb 3, 2024 Wealthy donors are shifting their support back to Trump as he seeks the Republican nomination for 2024. This ties into the intricate world of campaign finance, revealing strategies from major players like Ken Griffin. The discussion also dives into how money impacts U.S. politics, including endorsements and the political narratives shaped by pop culture. Notably, the influence of celebrities like Taylor Swift is explored, showcasing their potential power to sway public opinion and voter behavior.
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Donors Return to Trump
- Some wealthy donors are returning to Trump, despite the January 6th insurrection, as he appears likely to secure the Republican nomination.
- They are hedging their bets, recognizing Trump's potential return to power and his tendency to reward allies and punish opponents.
Trump's Vindictiveness
- Trump's vindictive nature is evident in his past actions, such as attempting to double UPS rates on Amazon deliveries to punish Jeff Bezos.
- He also tried to obstruct the Time Warner merger with AT&T due to alleged negative coverage from CNN.
Griffin's Hedge
- Ken Griffin donated $5 million to Nikki Haley's super PAC but also praised Trump in the same interview, highlighting Wall Street's hedging strategy.
- This seemingly contradictory stance reflects the uncertainty surrounding the Republican nomination and the desire to avoid alienating Trump.