Nikki Haley billionaire donor stops aid to failing campaign: report

Hoffman gave a pro-Haley super PAC $250,000 in 2023, despite mainly donating to Democrat-aligned causes in the past, but does not have any immediate plans to assist Haley’s campaign further, the source told CNBC.

In December, Hoffman wrote on his LinkedIn page that despite being a supporter of Joe Biden, he thought Haley had the best chance of beating 2024 GOP frontrunner Donald Trump in the primary.

“If America is to avoid another Trump presidency, it will be because Trump loses an election next year. If he is to lose, it will either be to Nikki Haley in the primary, or Joe Biden in the general,” Hoffman wrote.

Explaining his financial decision, Hoffman wrote "I did so because my first priority is American democracy and the integrity of our legal system. That means my first priority is to defeat Trump, and the primary is the first of two chances to do so."

Haley lost the Iowa caucus on January 15 and New Hampshire’s primary election on Tuesday to Trump.

Hoffman is one of the first wealthy donors of Haley to signal their exit, coming as Haley has vowed that "this race is far from over" on Tuesday evening.

One Republican fundraiser said that three clients who have helped Haley raise up to $100,000 each for her campaign are now opting out of additional fundraising.