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      Trump Is Financially Ruining the Republican Party

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      Donald Trump is someone you should think carefully about hitching your financial fortunes to. The guy is a gifted carnival barker, no doubt. But when it comes to serious business, he is a bad bet. Many of his ventures, from vodka and steaks to casinos and “university” degrees, have flopped like dying fish. Declaring corporate bankruptcy seems to be one of his favorite hobbies. And even when he wriggles away from failure largely unscathed, the other parties involved aren’t always so fortunate. Where money is involved, anyone still foolish enough to crawl into bed with him should be prepared for the experience to end in tears.Which leads me to gently note: Hey, Republican Party, pay attention! You are being herded toward potential financial ruin. The red flags are smacking you in the face. Wake up and smell the grift!One might assume that a presidential nominee who generates as much devotion as Mr. Trump would be a financial boon to his party. One would be wrong. With Mr. Trump, everything is about Mr. Trump. Other candidates and committees are an afterthought, left to squabble over his scraps. Which might not be problematic if the party’s money machine were whirring along smoothly. But it is not. Whether we’re talking about the battle for Congress or the basic health of the state parties, the G.O.P. is going through a rough financial patch, fueled in no small part by the MAGA king and his minions.The most recent campaign finance reports show that his campaign coffers are notably lighter than President Biden’s. Crunching the numbers, Axios noted recently, “The Biden campaign and the D.N.C. ended February with more than twice as much cash on hand ($97.5 million) as Trump and the R.N.C. ($44.8 million).” While the Republican base may be smitten with Mr. Trump, plenty of big-money donors are skittish about bankrolling his nonsense. The former president has been scrambling to close the gap, leering at potential funders as if they were contestants at the Miss Universe pageant.Now with Mr. Trump the de facto nominee, some top donors will hold their noses and start paying their tributes. But how do you build a strong party when at least part of your money is going to the nominee’s eye-popping legal bills? Being multiply indicted costs big bucks (more than $100 million and counting in his case). The former president has avoided paying those expenses with his own money so far — court costs are for suckers! — instead relying on his fans’ donations to accounts related to his 2020 election-fraud lies. But those accounts are drying up. Fresh income streams must be found. Anyone need a $59.99 Bible?Asked last month if she thought Republican voters would support the Republican National Committee footing Mr. Trump’s legal costs, Lara Trump, soon to be the committee’s co-chair, declared, “Absolutely.” I mean, what else is a good daughter-in-law supposed to say? Still, this possibility has raised enough eyebrows among donors that another Trump lackey, Chris LaCivita, who now oversees the R.N.C.’s operations, has vowed that committee funds will not be used for such.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Rekindles Relationships With Key 2016 Donors

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      The former president met with the Mercers and others as he sought to keep pace financially with President Biden.Donald J. Trump, facing a cash crunch that puts him at a severe disadvantage to President Biden, dined on Thursday night with a small group of donors including the hedge fund billionaire Robert Mercer and his daughter Rebekah, according to two people with knowledge of the event.Mr. Trump’s dinner companions also included the entrepreneur Omeed Malik, the cosmetics firm founder Trish McEvoy and the real estate management billionaire Richard Kurtz, one of the people said.The Mercers, Ms. McEvoy and Mr. Kurtz did not respond to requests for comment. A spokesman for Mr. Malik declined to comment, and a Trump spokesman did not respond to a request for comment.The Mercers were a critical source of support behind Mr. Trump’s win in the 2016 presidential election. In addition to giving donations, they pushed him to make changes to his political team, including making Kellyanne Conway his campaign manager and Stephen K. Bannon his chief executive. The family was conspicuously quiet during Mr. Trump’s 2020 re-election effort.But both Robert and Rebekah Mercer have lent their names for an invitation to a high-dollar fund-raiser on April 6, along with Mr. Malik. And their appearance with Mr. Trump at the dinner is additional evidence of a rekindled relationship.The dinner came at the end of a day when Mr. Trump flew to New York City from Florida to attend the wake of the New York Police Department officer Jonathan Diller, who was shot and killed during a traffic stop in Queens this week.Mr. Trump’s visit took place at the same time that Mr. Biden was preparing for a fund-raiser with two of his Democratic predecessors, Barack Obama and Bill Clinton, that raised a record $25 million at Radio City Music Hall. Mr. Trump’s team mocked the event as one for elites as he was received by Officer Diller’s family. More

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      Chinese Magnate Admits to Making Straw Donations to N.Y. Politicians

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      Mayor Eric Adams was among those who received illegal donations from Hui Qin, a Chinese businessman, a person familiar with the federal case said.A Chinese business titan pleaded guilty on Monday to federal charges that he made more than $10,000 in straw donor contributions to political candidates — including, a person familiar with the case said, to a New York congressman and Mayor Eric Adams.Hui Qin, 56, of Old Westbury, N.Y., who was once listed on Forbes magazine’s list of billionaires, ran a now-defunct entertainment business called SMI Culture. But he has been in federal custody since the fall, when he was arrested at an apartment he kept at the Plaza Hotel in Manhattan on charges of using fake identification.Hui QinImaginechinaMr. Qin asked others to contribute to political campaigns of his choosing, and he agreed to reimburse them, in 2021 and 2022, according to prosecutors. The other figures who received donations were Representative Andrew Garbarino of Long Island and Allan Fung, a former mayor of Cranston, R.I., who ran for Congress, the person familiar with the case said. Both are Republicans, while Mr. Adams is a Democrat.Mr. Qin concealed his activities from the officials he was raising money for, according to a criminal complaint filed in the case. As a result, they unwittingly filed false reports.Breon S. Peace, the U.S. attorney for the Eastern District of New York, said in a statement that Mr. Qin had admitted to “engaging in a brazen web of deception” that spread lies to the authorities overseeing elections.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Biden’s $53 Million February Haul Fuels Money Edge Over Trump

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      President Biden’s re-election campaign said on Sunday that it had raised more than $53 million in February together with the Democratic Party, an influx of cash that is expected to widen the Democrats’ cash advantage in a general-election contest against former President Donald J. Trump.Mr. Biden, the Democratic Party and their shared accounts now have $155 million cash on hand — up from $130 million at the end of January, his campaign said. The campaign credited strong support from small-dollar donors for its February fund-raising.So far in the race, Mr. Biden and the Democrats have built a substantial fund-raising advantage over Mr. Trump and the Republican National Committee, which reported around $40 million in cash on hand between them at the end of January. The Trump campaign has not released its February fund-raising figures but has said it also had its strongest month among small donors — topping the $22.3 million raised last August. Mr. Trump and the R.N.C. formed a formal joint fund-raising account only last week.“The fact that we have $155 million in cash on hand — which is 100 percent going to building out the campaign and focused on the six or seven states that are going to determine the outcome of this election — is just a huge competitive advantage,” Jeffrey Katzenberg, a co-chair of the Biden campaign, said in an interview.Mr. Trump has been schmoozing with donors at Mar-a-Lago, his private club and residence in Palm Beach, Fla., trying to lessen the financial disparity he faces against Mr. Biden. The former president is also confronting the financial pressure of his legal bills, which are being paid by one of his political action committees.Both campaigns must disclose details of their finances on March 20, with a more complete picture due on April 15.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Brian Benjamin’s Corruption Case Is Revived by Appeals Court

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      Prosecutors have said Brian Benjamin, the former lieutenant governor of New York, planned to funnel $50,000 in state money to a developer in exchange for campaign donations.A federal appeals court on Friday revived corruption charges against former Lt. Gov. Brian A. Benjamin of New York, saying prosecutors had sufficiently demonstrated a plan to funnel $50,000 in state money to a now-deceased developer in exchange for campaign contributions.The appeals court’s decision reversed a ruling in December 2022 by Judge J. Paul Oetken of Federal District Court in Manhattan that threw out the bribery charges. The decision sent the case back to Judge Oetken for further proceedings, although Mr. Benjamin may appeal.The prosecution, which began nearly two years ago, is now proceeding under further shadow of uncertainty. The developer, Gerald Migdol, who was likely to be prosecutors’ primary witness, died in February. The appellate ruling also comes in the wake of the U.S. Supreme Court’s decision in 2023 that narrowed the kinds of corruption cases that federal prosecutors may bring.But on Friday, a unanimous three-judge panel of the U.S. Court of Appeals for the Second Circuit said that in Mr. Benjamin’s case, the indictment “sufficiently alleged an explicit quid pro quo.”A lawyer for Mr. Benjamin did not immediately respond to a request for comment.The charges against Mr. Benjamin grew out of his actions in 2019, while he was a Democratic state senator representing Harlem.Federal prosecutors charged that Mr. Benjamin used his office to obtain a $50,000 state grant for a nonprofit run by Mr. Migdol, a real estate developer and homeless shelter operator, in exchange for Mr. Migdol arranging thousands of dollars in illegal campaign contributions for Mr. Benjamin.Mr. Migdol, who eventually pleaded guilty to related charges, cooperated with the government in its case against Mr. Benjamin before his death. Mr. Benjamin was also charged with falsifying campaign donation forms in connection with the scheme and providing false information during a background check in August 2021, after he was chosen by Gov. Kathy Hochul to be the state’s lieutenant governor. Mr. Benjamin still faces trial on those two counts, which Judge Oetken allowed to stand.This is a developing story and will be updated. More

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      Donald Trump, Seeking Cash Infusion, Meets With Elon Musk

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      It’s not clear whether Mr. Musk will spend any of his billions on the former president’s behalf. If he does, he could erase Mr. Trump’s financial disadvantage in the 2024 race.Donald Trump, who is urgently seeking a cash infusion to aid his presidential campaign, met on Sunday in Palm Beach, Fla., with Elon Musk, one of the world’s richest men, and a few wealthy Republican donors, according to three people briefed on the meeting who spoke on the condition of anonymity to describe a private discussion.Mr. Trump and his team are working to find additional major donors to shore up his finances as he heads into an expected general election against President Biden. Mr. Trump has praised Mr. Musk to allies and hopes to have a one-on-one meeting with the billionaire soon, according to a person who has discussed the matter with Mr. Trump.It’s not yet clear whether Mr. Musk plans to spend any of his fortune on Mr. Trump’s behalf. But his recent social media posts suggest he thinks it’s essential that Mr. Biden be defeated in November — and people who have spoken to Mr. Musk privately confirmed that is indeed his view.With a net worth of around $200 billion, according to Forbes, Mr. Musk could decide to throw his weight behind Mr. Trump and potentially, almost single-handedly, erase what is expected to be Mr. Biden and his allies’ huge financial advantage over the former president.Aides to Mr. Trump did not respond to a request for comment. Mr. Musk did not respond to requests for comment.Mr. Musk has long portrayed himself as independent-minded, and like many business leaders he has donated to candidates from both parties over the years. Unlike other U.S. billionaires, he has not spent heavily on a presidential election, and his donations have been fairly evenly split over the years between Democrats and Republicans. Mr. Musk’s businesses, Tesla and SpaceX, have benefited from federal government contracts and subsidies.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Meet the Woman Who Helped Pay for That R.F.K. Super Bowl Ad

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      Nicole Shanahan, a Bay Area lawyer once married to the Google co-founder Sergey Brin, gave $4 million and creative guidance to a group backing Robert F. Kennedy Jr.’s independent presidential bid.Super Bowl ads cost a fortune. So when a group backing the presidential bid of Robert F. Kennedy Jr. ran a 30-second ad for him during Sunday night’s game, the political world took notice.How had the super PAC of a long-shot independent candidate paid for such a costly spot, and whose idea was it to adapt a vintage John F. Kennedy ad for his nephew’s campaign?A major source of the funding — and the creative guidance — it turns out, was Nicole Shanahan, a lawyer, entrepreneur and Democratic donor who was once married to the Google co-founder Sergey Brin.In an interview on Monday, Ms. Shanahan said she had given $4 million to the super PAC, American Values 2024, about a week before the game, for the express purpose of helping pay for a Super Bowl ad. She also helped coordinate the ad’s production, she said, including navigating concerns from CBS Sports and Paramount, which broadcast the Super Bowl.“It seems like a great opportunity to highlight that he’s running for president,” Ms. Shanahan said. She said part of her motivation was concern about the environment, vaccines and children’s health, and her belief that Mr. Kennedy was willing to challenge the scientific establishment.“I do wonder about vaccine injuries,” she said, although she clarified that she is “not an anti-vaxxer,” but wanted more screening of risks for vaccinations. “I think there needs to be a space to have these conversations.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Haley Entered 2024 With $14.6 Million, Fueling Her Enduring Bid

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      Nikki Haley, the last candidate standing between former President Donald J. Trump and the Republican nomination, raised $24 million in the last three months of 2023 and entered this year with $14.6 million in her campaign account, a hefty sum that has all but ensured she will have the money to press on with her insurgent bid for the White House.The final fund-raising numbers of last year do not reveal how much Ms. Haley, the former governor of South Carolina, has raised since she came in a distant third place in the Iowa caucuses on Jan. 15, then lost again in the New Hampshire primary election eight days later.But the filings with the Federal Election Commission on Wednesday do indicate that her frugal presidential campaign has kept a lid on spending as it has pressed for new contributions.“We are running a smart campaign and that means spending our money wisely,” said Olivia Perez-Cubas, a spokeswoman for the Haley campaign. “Seventy percent of Americans don’t want a Biden-Trump rematch, and we have the resources and energy to make sure that doesn’t happen.”While Ms. Haley’s campaign handled money carefully, a super PAC backing her, SFA Fund Inc., spent heavily on advertising in 2023. The group reported raising $50.2 million in the second half of 2023, for a total of $68.9 million all year, but spent nearly all of it, ending the year with about $3.5 million on hand.This week, Ms. Haley, who was Mr. Trump’s first ambassador to the United Nations, made her pitch to some of the wealthiest donors in the country, seeking their support as she continues a long-shot bid for the Republican nomination. And when the week is done, her aides say, she will sit down, as she has throughout her run, and personally review her campaign’s expenses.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More