Billionaire Jeff Yass has donated a staggering $10 million to the super PAC arm of Club for Growth in search of an alternative to former United States President Donald Trump for the GOP nominee.
Yass, the founder of Susquehanna International Group, donated all but $583,000 of the money the pro-business, anti-tax organization raised in June. The numbers were revealed in the political action committee's latest disclosure with the Federal Election Commission.
Billionaire Donates $10 Million to Super PAC Arm
Additionally, the super PAC was found to have spent $366,000 and still had $22.6 million cash on hand by the end of last month. So far, the Club for Growth Action has yet to get involved in the 2024 presidential race. But in 2020, it spent $12 million on the presidential contest where it supported Trump against now-President Joe Biden.
The organization also used another super PAC, known as the Win It Back PAC, to try and persuade Republican primary voters to support someone other than the former president, the current frontrunner in national polls, as per Bloomberg.
On the other hand, Win It Back has spent $3.4 million this month on broadcast and cable advertising, as revealed by AdImpac. The expenditures were split evenly between the states of Iowa and South Carolina.
The group's ads feature people who said that they are supporters of the Republican businessman who believe that he should not become the GOP's nominee for the 2024 presidential elections.
One of the supporters added that they believed Trump would lose in the general election, while others argued that the Republican businessman was putting too much of his focus on himself and not the United States.
Searching for a Donald Trump Alternative for GOP Nomination
Despite the situation, the ads did not support any of Trump's major challengers for the GOP nomination. According to Yahoo News, Yass' donation comes as he has yet to directly donate to a presidential candidate's campaign.
In February, the billionaire gave $2.5 million to a state-level political action committee for Florida Gov. Ron DeSantis. The PAC's disclosures showed that the donation was made after DeSantis won re-election but before he formally announced his 2024 presidential run.
This year, the Club for Growth Action has relied quite heavily on Yass as he has donated $15 million, which is more than 60% of the whole fund the super PAC has raised. Additionally, the billionaire's recent $10 million donation is his biggest made this year.
The situation comes as Trump is going full throttle with his 2024 presidential campaign, recently saying that he plans to eliminate executive branch constraints on his power if he is once again elected as the country's leader.
These include an independent Justice Department, independent leadership in administrative agencies, and an independent civil service. One of the U.S.'s best-known students of the American presidency, Richard Neustadt, said that in a Constitutional democracy, the chief executive obtains results not by giving orders but by persuading the people, said USA Today.
