Trump May Face New Challenge As Finance Giants Eye Nikki Haley For 2024 GOP Race — Is Wall Street Moving Away From Former President?

In a significant political development, influential figures on Wall Street are reportedly rallying behind Nikki Haley, the former South Carolina governor and ex-U.N. ambassador, in her potential bid for the 2024 Republican presidential nomination. 

This move represents a strategic shift as these financiers seek an alternative to former President Donald Trump in the 2024 presidential election, according to a report by The Wall Street Journal.

Financier Sentiments And Political Dynamics

Approximately 30 top executives, as reported by The Wall Street Journal, are actively searching for a candidate other than Trump. 

“There’s a desperate, desperate hunt for anybody but Trump,” said one of the executives to the publication. 

Despite unwavering support for President Joe Biden among staunch Democratic supporters in the finance sector, many are exploring other options. 

Challenges faced by contenders like Florida Gov. Ron DeSantis (who has been clashing with Walt Disney Company) and Virginia Governor Glenn Youngkin have led to an increased focus on Haley.

Haley's Rising Profile

Following Sen. Tim Scott's (R-S.C.) unexpected withdrawal from the race, Haley's political stock has soared. 

High-profile events, including a fundraiser hosted by former Trump adviser Gary Cohn and UBS banker Mike Santini, have bolstered her campaign, drawing influential attendees, such as Aryeh Bourkoff of LionTree. 

Haley reportedly impressed many with her views on trade, economy and social issues during these events.

She also earned acclaim at the recent Republican debate for skillfully articulating her position on abortion and advocating for a consensus.

Strategic Support And Future Prospects

Notable financial figures like Morgan Stanley's outgoing CEO James Gorman and JPMorgan Chase & Co.'s Jamie Dimon have shown an interest in Haley's candidacy. 

Citadel founder Ken Griffin and Blackstone Inc. CEO Stephen Schwarzman are also reporrtedly contemplating supporting Haley. 

While still trailing Trump and DeSantis in polls, Haley is gaining traction, particularly in key states like Iowa and New Hampshire. 

"If she passes DeSantis, she’s the backup," said one of her financial backers, as noted by The Wall Street Journal.

They added, "It’s not completely crazy that she could ultimately win" in light of Trump's ongoing legal issues.

Democratic Concerns and Alternatives

There is growing unease about President Biden's candidacy due to his age and other factors. 

While some stalwarts like George Soros and Blackstone's Jonathan Gray remain supportive, others are considering alternatives such as Sen. Mark Kelly (D-AZ) and Michigan Gov. Gretchen Whitmer. 

The Biden camp has resisted suggestions from affluent donors that he should withdraw. 

"Joe is saying, 'I'm the only one who has established that I can beat Trump,'" a concerned supporter from his camp shared, highlighting Biden's confidence in his track record against Trump, as noted by The Wall Street Journal.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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