Big donors in the business world started rallying around President Joe Biden soon after he announced Tuesday that he’s running for reelection next year.
Executives spanning from tech to media to finance made it clear publicly and behind the scenes that they’re ready to help Biden overcome his soft approval ratings and fend off a heated Republican challenge – potentially in a rematch with former President Donald Trump.
Several big Republican donors, meanwhile, have been scrambling to find an alternative to Trump, while some pinned their hopes on that potential candidate being Florida Gov. Ron DeSantis, who has yet to announce whether he’s running. Some of those same donors have quietly started to look at other options beyond DeSantis as he continues his battle with Disney. Former Vice President Mike Pence could enter the GOP primary field, too.
Regardless of the Republican nominee, Biden will likely have a formidable war chest for the 2024 campaign.
Reid Hoffman, the billionaire LinkedIn co-founder, has offered to Biden’s allies to host fundraising events for the president once he announced he would run for reelection, according to one of the businessman’s close advisors.
Hoffman has been allied with Biden for years. He co-hosted a virtual fundraiser in 2021 for the Democratic National Committee, which featured the president. The advisor noted that Hoffman was invited to attend a Biden donor meeting set to take place in Washington this week, although he cannot go due to personal reasons. Hoffman visted the White House a few weeks ago, this person noted.
“They know they can rely on us,” this advisor said.
Some of the people cited in this story declined to be named in order to speak freely about private deliberations. A Biden campaign spokesperson didn’t return a request for comment before publication.
Haim Saban, the media mogul behind properties including the Power Rangers, told CNBC in an email he “will do all I can to have President Biden reelected for a well…
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