Big money fails to stop Trump, again, prompting a donor reckoning

Republican presidential candidate and former US President Donald Trump speaks during his New Hampshire presidential primary election night watch party, in Nashua, New Hampshire, on January 23, 2024. (REUTERS)
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Updated 27 January 2024
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Big money fails to stop Trump, again, prompting a donor reckoning

  • While supporters of Nikki Haley outspent the main outside group supporting Trump’s candidacy by more than two to one over the past year, Trump beat Haley in the Iowa and New Hampshire primaries

From Wall Street to Silicon Valley, wealthy donors have thrown tens of millions of dollars at Republican US presidential candidate Nikki Haley in an effort to keep Donald Trump from returning to the White House.
They have learned a hard lesson: Big money cannot win the Republican presidential nomination, at least not against Trump, who holds the support of a wide majority of the party’s voters.
Pro-Haley forces outspent the main outside group supporting the former president’s candidacy by more than two to one over the past year, according to a Reuters analysis of campaign finance disclosures filed with the Federal Election Commission.
The SFA Fund Inc, the main pro-Haley super PAC, has so far reported spending more than $70 million backing her run over the last year, and a super PAC affiliated with billionaire Charles Koch reported spending around $40 million to support Haley or oppose Trump.
In contrast, the main pro-Trump super PAC, known as MAGA Inc, reported spending about $50 million over the same period.
Despite that, Trump romped to two strong wins, first in Iowa on Jan. 15, and then on Tuesday in New Hampshire.
While Haley has vowed to carry on, Trump has driven all of his other rivals out of the race and has all but clinched the Republican nomination to face Democratic incumbent Joe Biden in the November general election.
In interviews with around a dozen donors and strategists who opposed Trump, a feeling of powerlessness seeped through.
“Trump has a base that basically is impenetrable. I don’t think money was the issue at all,” said metal magnate Andy Sabin.
Sabin himself is illustrative of some donors’ frenzied quest for a Trump opponent: At first, Sabin backed Florida Governor Ron DeSantis. Then, put off by DeSantis’ foreign policy stance, Sabin decided to back US Senator Tim Scott.
When Scott dropped out, Sabin chose to back Haley. After she lost New Hampshire, however, Sabin said on Wednesday the race was effectively over.
Haley’s campaign said Sabin had only donated $6,600, the maximum allowed, and had been refunded. The campaign added they raised some $2.6 million in the 48 hours since her New Hampshire defeat on Tuesday. Haley has taken a tougher stance on Trump this week and has even fundraised off a warning he made to her donors to stop funding her.
Still, the apparent failure of anti-Trump Republicans to stop him highlights his popularity with his supporters, many of whom dismiss the multiple criminal prosecutions he faces as politically motivated. Trump says he is innocent of all the charges.
The disempowering of wealthy donors is yet another way that Trump, who is financially fueled by small contributions, has fundamentally remade the Republican Party.
“The idea that any single entity can take checks and spend hundreds of millions of dollars to impact a presidential campaign is just not a 21st-century reality,” said Ed McMullen, a top fundraiser for Trump, and his former ambassador to Switzerland.
Trump’s financial model was sparking imitators, McMullen said. “I’m finding more candidates who are starting to focus more on a broader donor base than a singular high-dollar donor base.”
Hard-line conservatives in the Republican-controlled House of Representatives, for instance, already rely heavily on small campaign donors.
The Trump and Haley campaigns did not respond to requests for comment.

‘Total disconnect’
The disconnect between wealthy donors and Republican voters on the ground is apparent.
Keith Rabois, a Miami-based venture capitalist backing Haley, in December shared a graph on social media platform X showing her climb in public opinion polls. “This is exactly what a successful startup’s KPIs look like,” he wrote.
Key Performance Indicator, which aims to gauge business performance, is unlikely to be among the average Trump voter’s, or average American’s, daily lexicon.
“Key Performance Indicator? I just chuckle,” said Gary Leffler, a general contractor who was a precinct captain supporting Trump in Iowa and is known for driving a Trump-themed tractor to rallies.
“It’s a classic mistake made by people who have money. They take people out of the equation. It’s a total disconnect,” Leffler added of the donor class. “They’re not going to the grocery stores, to the home improvement stores, they’re not really connecting to people on the street.”
When asked about his comments and donors’ role, Rabois said he never believed “money matters” in politics, and said voters would again reject Trump.
Another illustration of the apparent diminishing power of old-line Republican money comes in Charles Koch, the fossil fuels magnate whose family built Americans for Prosperity (AFP), one of the most formidable US conservative advocacy and donor networks.
While Americans for Prosperity Action’s endorsement of Haley gave her more money and momentum, their advertisements and door-knocking failed to convince enough voters. To be sure, AFP Action’s 2024 strategy also involves congressional races, where it aims to prevent Democrats from gaining seats.

Coming home to Trump?
Reed Galen, a former Republican consultant who is raising money for the anti-Trump Lincoln Project, said donors might have had more success if they had started spending against Trump a year earlier, been relentless in their attacks, and benefited from stronger candidates.
Still, he conceded: “I’m not sure even that would have worked.”
Some donors who had previously bet against Trump have already begun to support him.
Dan Eberhart, a prominent donor who previously supported DeSantis, is now backing Trump. And Sabin, the metals magnate, said he would vote for Trump in November, although he said he would not give him a “nickel.”
Several donors told Reuters that Trump’s team had been calling to try to get them on board, including in at least one case by enticing them with the offer of a Trump meeting at his Mar-a-Lago resort in Florida.
On Wednesday, Trump upped the ante, saying anybody making a contribution to Haley would be “permanently barred” from his political orbit.
One Haley donor said he feared speaking out against Trump for fear of getting on his bad side, adding, “That’s dangerous.”
Of course, Trump has long had some major, committed donors on his side, including Home Depot billionaire Bernie Marcus, who told Reuters he would likely fund Trump even if the candidate is convicted.
George Glass, a major Trump campaign fundraiser and his former ambassador to Portugal, said he expected “at least half” of donors who backed a non-Trump candidate would return to the fold, adding, “It’s pretty much a unification behind President Trump.” 


Trump: No plans to fire Fed Chair Powell, but wants lower rates

Updated 5 sec ago
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Trump: No plans to fire Fed Chair Powell, but wants lower rates

  • “I have no intention of firing him,” Trump told reporters in the Oval Office on Tuesday

WASHINGTON: President Donald Trump said on Tuesday he has no plans to fire Federal Reserve Chair Jerome Powell, but said he wants interest rates to be lower, remarks that could defuse tensions over the central bank chief’s future that have rattled investors.
“I have no intention of firing him,” Trump told reporters in the Oval Office on Tuesday. “I would like to see him be a little more active in terms of his idea to lower interest rates,” he added.
Trump’s statement was the first de-escalation after days of withering criticisms he has lobbed at Powell for not further cutting interest rates since Trump resumed office in January.
The broadsides were often accompanied by threatening remarks, such as last week’s social media posting that Powell’s termination as Fed chair “cannot come fast enough,” that spooked financial markets that view the Fed’s independence as underpinning its credibility on the global financial stage.
But while he seems to have set aside those threats for now, his criticisms of Fed rate policy remain just as pointed.
“We think that it’s a perfect time to lower the rate, and we’d like to see our chairman be early or on time, as opposed to late,” Trump said.


Musk says he’ll dedicate more time to Tesla starting in May as company sees big drop in Q1 profit

Updated 9 min 2 sec ago
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Musk says he’ll dedicate more time to Tesla starting in May as company sees big drop in Q1 profit

  • Tesla’ stock has fallen more than 40 percent this year but rose more than 3 percent in after-hours trading

NEW YORK: Elon Musk says he’ll dedicate more time to Tesla starting in May after the company reported a big drop in first-quarter profit. The company has faced angry protests over Musk’s leadership of a federal government jobs-cutting group that has divided the country.
Tesla, based in Austin, Texas, said Tuesday that quarterly profits fell by 71 percent to to $409 million, or 12 cents a share. That’s far below analyst estimates. Tesla’s revenue fell 9 percent to $19.3 billion in the January through March period, below Wall Street’s forecast.
The disappointing results come as the company struggles to sell cars to consumers angry over Musk’s role in the Trump administration. Musk also has publicly supported far-right politicians in Europe and alienated potential buyers there, too.
Some Tesla investors have complained that Musk has been too distracted by his role at the Department of Government Efficiency, or DOGE, to effectively run Tesla.
“This is a big step in the right direction,” said Wedbush Securities’ Dan Ives, referring to Musk’s time commitment. “Investors wanted to see him recommit to Tesla.”
Tesla’ stock has fallen more than 40 percent this year but rose more than 3 percent in after-hours trading.
Morningstar analyst Seth Goldstein said earlier reports of plunging sales that had tanked the stock made the results almost predictable.
“They’re not particularly surprising given that deliveries were down,” Goldstein said, adding that the company is still generating cash. “It was good to see positive cash flow.”
The company generated $2.2 billion in operating cash versus $242 million a year earlier.
Tesla investors will be listening closely for updates on several strategic initiatives. The company is expected to roll out a cheaper version of its best-selling vehicle, the Model Y SUV later in the year. Tesla has also said it plans to start a paid driverless robotaxi service in Austin, Texas, in June.
Its closely watched gross margins, a measure of earnings for each dollar of revenue, fell to 16.3 percent from 17.4 percent.
The company that once dominated EVs is also facing fierce competition for the first time.
Earlier this year, Chinese EV maker BYD announced it had developed an electric battery charging system that can fully power up a vehicle within minutes. And Tesla’s European rivals have begun offering new models with advanced technology that is making them real alternatives, just as popular opinion in Europe has turned against Musk.
Investors expect Tesla will be hurt less by the Trump administration’s tariffs than most US car companies because it makes most of its US cars domestically. But Tesla won’t be completely unscathed. It sources some materials for its vehicles from abroad that will now face import taxes.
Tesla warned that tariffs will hit its energy storage business, too.
“While the current tariff landscape will have a relatively larger impact on our Energy business compared to automotive,” the company said, “we are taking actions to stabilize the business in the medium to long-term and focus on maintaining its health.”
Retaliation from China will also hurt Tesla. The company was forced earlier this month to stop taking orders from mainland customers for two models, its Model S and Model X. It makes the Model Y and Model 3 for the Chinese market at its factory in Shanghai.
The company side business of selling “regulatory credits” to other automakers that fall short of emission standards boosted results for the quarter.
The company generated $595 million from credit sales, up from $442 million a year ago.

 


Arab Americans mourn Francis, a pope who had great sympathy for Palestinian and Arab suffering

Updated 57 min 18 sec ago
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Arab Americans mourn Francis, a pope who had great sympathy for Palestinian and Arab suffering

  • Pope Francis expressed more concern for suffering of Palestinians, Lebanese, Syrians and Iraqis than previous popes, says Rev. Samer Al-Sawalha of Good Shepherd Arab Catholic church in California
  • Imad Hamad, head of American Human Rights Council says the pope ‘championed social justice, migrants’ rights and global peace’ and stood in ‘solidarity with the poor and marginalized’

CHICAGO: Leaders of the Arab American Catholic community are this week mourning the death of Pope Francis who, to them, was an outspoken champion of Arab and Palestinian rights.

Francis, the first Latin American pontiff, died at the age of 88 on Monday in the Vatican after a long illness, the day after Christians around the world celebrated a rare convergence of both the traditional and Orthodox Easter holidays.

During his 12-year papacy, he was vocal in his support of all those suffering in the world, and maintained a special place in his sermons and public remarks for addressing the suffering of Palestinians in Gaza in particular, Arab American Catholic leaders said.

Father Samer AlSawalha, Priest at The Good Shepherd Arab Catholic Church.

Rev. Samer Al-Sawalha of the Good Shepherd Arab Catholic church, a growing Arab parish in California, told Arab News: “Pope Francis was against war, especially in the Middle East, and all the conflicts in the world.

“He always supported the Christian community, especially in the Holy Land. When he visited the Middle East, he visited different areas and always showed that the Catholic Church cared about Arab Christians, who are unfortunately now a minority in the Middle East.”

Popes might not wield “political power” but they have “a powerful moral power” that can influence world events, he added.

“Pope Francis was always in contact with the Catholic Church in Gaza,” he said. “He spoke every day with priests in the Gaza Strip to make sure that the Christian community there is good, and they have what they need.

“That is unusual, for a pope to be close to the Christian community in the Middle East and to have a strong position against Israel’s policies, the Gaza war, and also all the conflicts in the region.”

During Israel’s siege of Gaza, Al-Sawalha said, Pope Francis would often call the pastor of the Church of the Holy Family, a small Roman Catholic congregation in Gaza City, “just to check in.”

He said the pope had expressed more concern about the suffering of Palestinians, Lebanese, Syrians and Iraqis than was often the case among his predecessors, who also preached the need for peace and an end to war and suffering.

“Popes in the past have always expressed hope for peace but Pope Francis seemed to show more than others,” Al-Sawalha said. “He kind of stepped it up a little bit, at times when it was needed, and it helped.

“It’s unusual for a pope to video call one of our priests from the Latin Patriarchate of Jerusalem every day to check up on him, to make sure that the parish there had everything they needed.

“And even sometimes he asked them, ‘What did you eat today?’ That showed how Pope Francis really cared, not just in terms of politics and all the fancy words, but that he really cared for the people and what they were experiencing.”

Al-Sawalha said the pope was very popular among the congregation of his parish in San Jose, which consists of about 120 mainly Jordanian and Palestinian families, along with Syrian, Lebanese, Egyptian and Sudanese immigrants.

“His concern for the Palestinians of Gaza left a huge impact on the Christian community in general,” he added. “It shows that the Catholic Church is concerned about them, and a struggle that sometimes we are not able to speak about because of the sensitivities of the situation in the Middle East, and because Christians are minority in the Middle East.

“The support of the Catholic Church, through Pope Francis, strengthened the voice of the Arab Christian community”

During his final public appearance, on Easter Sunday, Pope Francis called for a ceasefire in Gaza, Father Al-Sawalha noted, adding: “That was powerful.”

Catholic cardinals from around the world have begun to gather at the Vatican for a conclave during which they will select a new pope to lead the world’s 1.4 billion Catholics. After each round of voting, the ballot cards used by the cardinals will be burned and Christians around the world will watch the chimney at the Vatican to see the color of the resulting smoke: black smoke signals that the vote was not decisive and another will be held following further deliberation, while white announces a successor has been chosen.

Only a few of the 120 cardinals who will choose the new pope are of Arab heritage, Al-Sawalha said, and he does not expect an Arab will be chosen to succeed Francis.

“But it is very important for them to show that the new pope will be someone who is close to all Christians, not just in Europe or the Middle East,” he added.

“I would like to see a new pope whose teachings are clear and who holds to traditions, the traditions of the Church, and someone who has clear vision about the teachings of the Church with a firm position on the traditions of the church.

“I also would like to see a new pope who has also the characteristics of Pope Francis, who cared about the poor, the marginalized and for social justice. That is our hope.”

Francis — born Jorge Mario Bergoglio in Buenos Aires, Argentina, on Dec. 17, 1936 — was the first Pope from the Americas, the first from the Southern Hemisphere, and the first Jesuit.

His death was mourned not only by Catholics and Christians but by the wider Arab American and Muslim communities, too.

Imad Hamad, executive director of the American Human Rights Council, based in Dearborn, Michigan, wrote in a tribute: “Pope Francis was more than a spiritual leader; he was a humanitarian whose actions spoke louder than words. He championed social justice, migrants’ rights and global peace, living a life of profound humility and solidarity with the poor and marginalized.

“In his final Easter address, Pope Francis reaffirmed his call for peace, urging a ceasefire in Gaza and Ukraine. He condemned the violence in Gaza, describing it as ‘war’ and ‘terrorism,’ and appealed for an end to the cycle of suffering in the Holy Land. His words were a plea for humanity to rise above division and embrace compassion.”

The American-Arab Anti-Discrimination Committee praised the pope for his “concern and commitment” to the challenges facing Palestinians in the Gaza Strip.

“Unfortunately, Arab Christians, along with other religious minorities in the Middle East, are targeted for how they worship or who they are,” officials from the organization told Arab News.

“In what should be a time of celebration in Palestine, the birthplace of Christianity, Arab Christians are under constant bombardment from Israel. The historic Saint Porphyrius Church in Gaza City — one of the world’s oldest Christian churches — was bombed on Oct. 19, 2023, killing 18 displaced civilians sheltering inside. Many Christians have sought refuge in the few remaining churches, relying on them for basic necessities and a measure of safety.

“Before the genocide, Gaza’s Christian population numbered around 2,000, mostly Greek Orthodox. Sadly, that number continues to dwindle as deaths and displacement mount.

“Israel has destroyed over 200 cultural and historical sites, and more than 340 mosques — among them the iconic 700-year-old Great Omari Mosque. At least three churches have also been severely damaged, including Saint Porphyrius Church itself. At least 16 cemeteries have been desecrated. And Christians across the Middle East face similar threats, with key sites damaged in attacks that further endanger this small yet longstanding community.”

In his final days, Pope Francis consistently and forcefully called for a ceasefire in Gaza, condemned the “deplorable humanitarian situation” in the territory, and expressed his concern for the suffering of all people in the region.

 


Indonesia food plan risks ‘world’s largest’ deforestation

Updated 22 April 2025
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Indonesia food plan risks ‘world’s largest’ deforestation

  • Keen to end its reliance on rice imports, Indonesia wants to plant vast tracts of the crop, along with sugar cane for biofuel, in the restive eastern region
  • Environmentalists warn it could become the world’s largest deforestation project, threatening endangered species and Jakarta’s climate commitments

JAKARTA: An Indonesian soldier gives a thumbs up as he crosses a rice field on a combine harvester in remote Papua, where a government food security megaproject has raised fears of mass deforestation.

Keen to end its reliance on rice imports, Indonesia wants to plant vast tracts of the crop, along with sugar cane for biofuel, in the restive eastern region.

But environmentalists warn it could become the world’s largest deforestation project, threatening endangered species and Jakarta’s climate commitments.

And activists fear the scheme will fuel rights violations in a region long plagued by alleged military abuses as a separatist insurgency rumbles on.

The project’s true scale is hard to ascertain; even government statements vary.

At a minimum, however, it aims to plant several million hectares of rice and sugar cane across South Papua province’s Merauke. One million hectares is around the size of Lebanon.

Deforestation linked to the plan is already under way.

By late last year, more than 11,000 hectares had been cleared — an area larger than Paris — according to Franky Samperante of environmental and Indigenous rights NGO Yayasan Pusaka Bentala Rakyat.

That figure has only increased, according to analysis by campaign group Mighty Earth and conservation start-up The TreeMap.

Their work shows areas cleared include primary and secondary natural dryland and swamp forest, as well as secondary mangrove forest, savanna and bush.

“Usually, deforestation is a product of government not doing its job,” said Mighty Earth chief executive Glenn Hurowitz.

“But in this case, it’s actually the state saying we want to clear some of our last remaining forests, carbon-rich peatlands, habitat for rare animals,” he told AFP.

Indonesia’s government says the land targeted is degraded, already cultivated or in need of “optimization,” dismissing some areas as little more than swamps.

Environmentalists argue that misunderstands the local ecosystem.

“In South Papua, the landscape and the ecosystem is lowland forest,” said Samperante.

“There are often misconceptions or even belittling” of these ecosystems, he added.

Mapping done by Mighty Earth shows the project threatens a broader ecosystem range — including peatlands and forests the group says should be protected by a government moratorium on clearing.

“The tragedy in this project,” said Hurowitz, “is that Indonesia has made so much progress in breaking the link between agricultural expansion and deforestation.”

“Unfortunately, this single project threatens to undermine all progress.”

Indonesia has some of the world’s highest deforestation rates and Papua retains some of the largest remaining untouched tracts.

Indonesian think tank CELIOS says cutting down so much forest could derail Jakarta’s plan to reach net-zero by 2050.

For President Prabowo Subianto’s government, criticism of the project ignores Indonesia’s agricultural and economic realities.

He has made the scheme a priority, visiting soon after taking office.

In January, he said the country was on track to end rice imports by late 2025, and reiterated its energy independence needs.


Russia and Arab League to hold summit this year: Putin

Updated 22 April 2025
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Russia and Arab League to hold summit this year: Putin

  • Many of our friends in the Arab world support this idea, says Putin, inviting Oman’s sultan

MOSCOW: Russian President Vladimir Putin on Tuesday announced plans to stage a summit with the Arab League group of states later this year as Moscow searches for new partners after its three-year offensive on Ukraine.

Slapped with sweeping Western sanctions after sending troops into Ukraine, Russia has turned toward Asian, African and Arab countries for political and economic ties.

“We plan to hold a summit between Russia and Arab countries this year,” Putin told Sultan of Oman Haitham bin Tariq, in the first-ever visit to Russia by an Omani head of state.

“Many of our friends in the Arab world support this idea,” he added, inviting the sultan to the summit, without specifying the date and location.

The sultan’s visit comes days after Putin hosted Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani in Moscow for talks on Syria and Gaza. 

Doha is a key mediator between Israel and Palestinian group Hamas.

The Gulf states are gaining ever-growing diplomatic influence as mediators in negotiations to resolve the world’s most pressing crises, which have claimed thousands of lives, such as the conflicts in Ukraine and Gaza.

Oman recently hosted talks between the US and Iran, the highest-level meeting between the two sides since Donald Trump abandoned a landmark nuclear deal in 2018 during his first term as US president.

Russia and Ukraine held indirect talks in Riyadh in March.

Meanwhile, Putin discussed Iran’s nuclear program with the leader of Oman, a Kremlin official was quoted as saying.

“We discussed the progress of negotiations between Iranian and American representatives,” Interfax quoted Kremlin foreign policy aide Yury Ushakov as saying.

“We will see what the result will be. We maintain close contact with our Iranian colleagues. Where we can, we help.”

Trump has threatened to bomb Iran unless a deal is reached; Iran denies seeking atomic weapons. Russia signed a strategic partnership treaty with Iran in January and is also trying to improve relations with the Trump administration.

Moscow has a role in nuclear talks with Iran as a signatory to a previous nuclear deal that Trump abandoned during his first term in 2018. Russia has said any US military action against Iran would be illegal.

In televised comments, Putin was shown telling the sultan that Russian energy companies were interested in developing relations with Oman.