Top Trump donor reportedly withdrawing support for re-election campaign

According to reports, one of Donald Trump’s strongest backers is planning to withdraw his support for Trump’s 2020 campaign.

The Wall Street Journal reported on Thursday that Silicone Valley venture capitalist Peter Thiel doesn’t think Trump’s chances of winning again are strong enough to warrant his support this time around.

Top backer bailing

The Journal, citing “people familiar with the matter” wrote that Thiel has “soured” on Trump’s prospects due to the double-whammy blows of lockdown-induced economic devastation and record-high unemployment numbers.

Donald Trump’s strongest argument for re-election before the coronavirus crisis was the booming economy he crafted over the last three years, but much of his progress has been erased by strict and extended lockdowns.

Thiel was an enthusiastic supporter of Trump during the 2016 election cycle, and even appeared as a keynote speaker at the Republican National Convention that year.

He spoke glowingly of Trump as the ideal person to rebuild the still-struggling Obama economy. Thiel donated $1.25 million to Trump’s campaign and related causes.

Now, according to the Journal, he hasn’t donated a dime to Trump’s re-election campaign and has no plans to do so.

The Journal cited “one person who speaks to Mr. Thiel about politics,” who said that Thiel likened Trump’s reelection campaign to the fictional “S.S. Minnow,” a ship that ran aground in the TV show “Gilligan’s Island.”

Moving forward

Four months from election day, Democrat nominee Joe Biden holds a clear polling lead over Donald Trump.

Fox News reported on Friday:

The presumptive Democratic nominee tops Trump by 8.8 percentage points in an average of the latest national polls compiled by Real Clear Politics. More importantly, Biden enjoys single-digit advantages over the president in most of the states where the race for the White House will likely be won.

Though Thiel apparently isn’t liking Trump’s odds this time around, sources say he’s not quite ready to jump onboard the Biden train as some disaffected Republicans have.

Thiel has denounced the Silicon Valley liberal “den of groupthink” from whence he made his fortune as the co-founder of Paypal Holdings, and will reportedly “unenthusiastically” vote for Trump and continue to donate to other GOP causes in order to help the GOP remain in control of some parts of D.C.

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