Zinger Key Points
- Robert F. Kennedy Jr.'s campaign faces severe financial strain despite attempts at creative fundraising tactics.
- Super PAC support hinges on major donors, highlighting dependence and financial vulnerability.
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Robert F. Kennedy Jr.’s presidential campaign is reportedly struggling financially.
Kennedy has been gaining attention as a significant third-party contender for decades. Both the Republican and Democratic parties have strongly cautioned that he could divert votes. However, overshadowing all of this is his critical fundraising predicament, reported Politico.
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Kennedy has attempted numerous tactics to boost donations, but months of promoting $10 raffle tickets for experiences like whale watching, the excitement of falconry, and luxury sunset sailing adventures have only yielded disappointing totals in small-dollar donations, according to Politico.
The campaign has sought to increase larger donations through online auctions of Kennedy memorabilia and exclusive benefits, but these initiatives have consistently fallen short of their monthly fundraising targets.
The campaign has now introduced a new strategy: offering supporters 15% of the funds they assist in raising, the report added.
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If it weren’t for the $10 million financial injection from Kennedy’s running mate, Nicole Shanahan, the campaign would be facing debt, Politico added.
Even the super PAC backing Kennedy’s independent presidential candidacy has struggled to broaden its list of potential donors.
Kennedy’s financial vulnerabilities raise concerns about his ability to sustain or grow his political backing despite some polls placing him in double digits.
While he stands out as the most prominent independent presidential candidate in decades, Kennedy is unlikely to become any more than a peripheral figure in the general election — which is predicted to be a close contest between former President Donald Trump or President Joe Biden — unless he can secure funding for a more robust campaign.
“I’ll explain it this way: I have certainly never heard of a Green Party presidential campaign slowing down in terms of fundraising at this point, or at any point. They tend to start small and build up,” said Ben Manski, the presidential campaign manager for the Green Party’s Jill Stein in 2012.
However, Kennedy’s campaign has been facing difficulties for months in raising funds.
The campaign missed its fundraising targets for the auctions in February, March, and April, with April’s proceeds amounting to only half of its $100,000 goal.
There were no auctions held in May.
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Recently, it introduced a new approach. A few weeks ago, the campaign launched an affiliate program, reminiscent of one initiated by Vivek Ramaswamy during the GOP primary last year, Politico reported.
This program encourages supporters to assist in fundraising by offering commissions on donations and merchandise sales. However, Ramaswamy is skeptical that this initiative will resolve Kennedy’s challenges, the report added.
“There’s more to being a presidential candidate than cultivating a vibe. If he wants to copy methods from my campaign, here’s the most valuable one: adopt actual policy positions,” Ramaswamy, who is now backing Trump, said in a statement.
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Meanwhile, American Values 2024, the super PAC, could potentially offer external backing to Kennedy’s campaign.
However, it currently relies heavily on a sole contributor: GOP megadonor Tim Mellon, who has donated $25 million, approximately half of the PAC’s total funds.
The PAC’s second-largest donor, Gavin de Becker, has engaged in a unique “bridge funding” arrangement that reduces his substantial $14 million contribution to just $2.35 million after refunds.
In contrast, super PAC donors supporting Trump and Biden are pledging tens of millions to their respective super PACs without seeking significant refunds, Politico added.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock
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