- Mike Novogratz, a veteran investor and longtime supporter of Joe Biden, plans to raise money for the president’s chief challenger, Rep. Dean Phillips (D-Minn.).
- Novogratz, CEO of cryptocurrency-focused Galaxy Investment Partners, will co-host a campaign fundraiser for Phillips in New York City on Saturday, according to an invitation seen by CNBC. .
Veteran investor and longtime Joe Biden supporter mike novogratz has switched to raising money for the president’s primary opponent, Rep. Dean Phillips (D-Minnesota).
Novogratz, CEO focused on cryptocurrencies Galaxy Investment Partnerswill co-host a campaign fundraiser for Phillips on Saturday. new york city The invitation, seen by CNBC, said the event was held at the home of David Barry, president and CEO of real estate company Arby’s. For those invited, he donates a participation fee of $3,300.
In 2020, Novogratz donated $200,000 to the Biden Action Fund, a joint fundraising committee between the Biden campaign and the Democratic National Committee, according to reports. federal election commission filing.
Mr. Novogratz donated more than $1 million that year to groups known as super PACs. Defeat by tweettried to use Donald Trump’s tweets against him.
Novogratz told CNBC that he “worked hard in 2020” for Biden. This time, he said, “I think he’s too old. I think Trump is too old. We need fresh people.” Mr. Biden will celebrate his 81st birthday in November, and Mr. Trump will celebrate his 78th birthday next June.
Mr. Novogratz, 59, considers Mr. Phillips a shrewd centrist with a strong business track record. He is scheduled to meet with Nikki Haley, the former U.S. ambassador to the United Nations, next month to discuss her support for defeating Trump.
A Biden campaign spokesperson said he did not know Novogratz but wished him well. “We don’t know who they are, but we thank the president for their support and wish him the best,” Biden campaign spokesman TJ Ducklo said in a statement. biden has successfully held a West Coast fundraiser, raising more than $15 million in just a few days.
Mr. Novogratz is among a small group of wealthy Biden supporters looking for an alternative to the incumbent party. Chamath Palihapitiya, a longtime technology executive, supported Biden in 2020 but has publicly complained about him and co-hosted a fundraiser for an independent group. Robert F. Kennedy Jr.
Novogratz’s concerns about Biden’s age are shared by voters. In an August Associated Press poll, 77% of respondents said Biden was too old to be effective in a second term.
Biden’s approval rating is currently around 40%, according to November statistics. NBC News poll.
Novogratz was also critical of the Biden administration’s stance on cryptocurrencies. He recently made this claim at a business summit. miami “Biden administration, Democrats really don’t like cryptocurrencies”
Still, even with support from people like Novogratz, Phillips remains a strong candidate for president.
Recent morning consultation poll It shows Mr. Biden leading Mr. Phillips by 69 percentage points.
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