J.D. Vance Won Trump’s Blessing, Now He’s Cashing In

When former President Donald Trump reluctantly toss a lifeline last week for venture capital JD Vance’s struggling in his Senate campaign, he may have shaken an already volatile key area.

Now, a week later, that endorsement has paid dividends.

In a Friday submit with the Federal Election Commission, J.D. Vance for the Senate said it received more money this week than it raised directly in the first three months of the year combined. The report comes out after a 3.5 million dollars super PAC from Vance’s billionaire backer Peter Thiel earlier this week.

However, a closer look reveals that the skies are not quite as clear as they seem.

First, this all has to do with Vance’s meager overall fundraising rate. In the first three months of the year, his campaign directly increased $38,000, total. It raised an additional $270,000 from an associate committee and ended March with a little more 1.6 million dollars – the amount that his top rivals Josh Mandel and Mike Gibbons each doubled.

But on Friday, exactly a week after winning Trump’s late-game endorsement, Vance report a personal donation of $88,652. The money came in the form of a wire transfer from a group called the Ohioans to the JD, an official joint committee attached to the campaign.

The cash amount is divided by 50 donations of $1,000 or more. But because of the nuances in filing Federal Election Commission requests close to an election, the total transfer amount can be much higher than that, including smaller dollar amounts. results in reduced reporting.

The flow of people, less than two weeks since the May 3 batch of elementary school, was no doubt welcome in Vance’s camp. And on the surface, report along with jump into the pollsuggests that Trump’s endorsement may have done what billionaire Vance’s supporters never did – shifted the political compass.

For months, Vance couldn’t seem to get his poll numbers out of the basement, no matter how much he spent. And his fundraising efforts have begun to dry up, especially in terms of status. He’s been burning through cash, with his final report – covering April 1 to April 13 – showing a spending level of $935,000, offset by a whopping amount $910 in total contributions.

The campaign raised so much cash that at the end of March, Vance took out a $600,000 loan out of his own pocket. To put that amount in perspective, two days before Trump got behind him, the campaign had about $690,000 in the bank.

But that’s just the surface. A closer look at these latest transfers tells a more nuanced story, and suggests that Ohioans may not yet be ready to go all out for their self-proclaimed hero.

For example, it’s not all thanks to the Trump effect. While nearly all of the initial donations to the joint committee were counted on March 31 or later, only 20 of the 50 came after Trump’s April 15 announcement.

(One donation, however, is entirely thanks to Trump — a check for $2,900 from Vance’s chief rival, car salesman Bernie Moreno. Moreno dropped out in February after talking to Trump, promising the former president that he will go after whichever candidate wins the endorsement.)

Perhaps even more troubling, the money was also overwhelmingly sent from out of state, with only 18 donations having an Ohio address. For a candidate whose friendly pollsters have slam him for not connecting with Buckeyes working one day, that’s not necessarily a good sign.

In the same vein, dozens of donations (all out of state) came from people with ties to the financial services industry — $29,105 in total. Contributions from Ohioans amount to just $24,585, with $7,785 of that coming from a single family.

The flow of people, less than two weeks since the May 3 batch of elementary school, was no doubt welcome in Vance’s camp.

Of course, money doesn’t mean everything, even in politics. But so is Trump patchy his endorsement a guilty critic—Some conservative Buckeyes have moved explode.

Still, it’s still worth keeping an eye on the cash. As the unsettled race heads to the May 3 wire, spending could play an important role. Vance can thank Trump for a clear spike in favor, but previous polls consistently showed a constituency with weak attachment for any candidate. In a Fox News poll conducted last month, two-third supporters of one of the top three candidates said they could change their mind.

And the late game surge from the GOP’s most influential force made a concrete difference to Vance financially. His friend and corporate mentor, tech billionaire Peter Thiel, cut a new $3.5 million check for a Vance-backed super PAC, Politico reported Tuesday. Thiel, who hasn’t donated to the team since he pulled $10 million in seed money last March, now has a total of $13.5 million invested in Hillbilly Elegy author.

Before this new round, however, the super PAC, known as the “Protect Ohio Values” (POV PAC), was already fuming. Between January and March, it spent $5.8 million on promotional efforts to get Vance’s numbers out of the basement, with mixed results.

Furthermore, no one gave the super PAC any money during those three months, and at the end of the quarter, the total contribution of the POV PAC was $10.4 million (including Thiel’s original $10 million). ) has decreased to about $290,000—Dead cash seed of Thiel and then a little.

But after Trump’s announcement, Thiel threw in $3.5 million in rejuvenation and the POV PAC is back online. It is quickly consumed more than 2.2 million dollars for news updates.

And as endorsement reported losing more of Thiel’s money, it also seems to have caused some hacks among Vance’s well-funded competitions, who have started increasing their accounts – and dropping out – ahead of the election day May 3.

After Thiel’s contribution was reported, lead Mike Gibbons injection Another $250,000 to his campaign account. That is eighth that loan that the investment banker has made to date, totaling 16.6 million dollars.

But while Gibbons consistently leads in the polls, he’s only raised $1 million from backers. He just pocketed another one $6,800 in a report filed days after Vance won Trump’s endorsement.

Another leading contender, former state treasurer Josh Mandel, also rallied this week. Mandel, who was consistently second and ahead of Vance, was ranked $146,000 in donations funneled from his fundraising committee—far ahead of Vance’s recent amount of more than $60,000.

The third candidate, Jane Timken, recently entered the poll behind only Vance. But Timken, a top Republican fundraiser, has strong supporters of her own. Days after Trump weighed in, she saw $380,000 in media support from super PAC win for women.

The endorsement also brought Vance back to number one. A super PAC affiliated with Mandel Advocates for Development Club, which has spent $1.8 million against Vance to date, raked in $170,000 to media last week.

But it also says that at the same time, super PAC backing Mandel even more difficult for others. In the days after Trump got behind Vance, Club For Growth launched $1.3 million attacks – on Mike Gibbons.

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