Speed Reads

lotta cash

Major Republican donors are sending 'big money' to Sen. Tim Scott ahead of midterms and 2024 race

Sen. Tim Scott (R-S.C.) has far outraised his Senate colleagues this year, thanks to both big money donations from GOP "megadonors"—  like Las Vegas casino billionaire Steve Wynn and tech mogul Larry Ellison — and a "formidable" network of small-dollar supporters, Politico reports.

So far this year, Scott's campaign committee has raised $11.7 million, "more than any incumbent from either party up for re-election next year," per Politico. During Q2, in fact, the senator raised more than double that of the second-highest 2022 Republican incumbent — Sen. Marco Rubio (R-Fla.). What's more, an outside group aligned with Scott has received $10 million from Ellison since last October.

The influx of cash has "quietly" positioned Scott as a "powerhouse fundraiser' and a "major force" within the GOP, writes Politico. And although the senator has routinely avoided questions as to whether or not he will run for president in 2024, senior Republicans view his ability to garner support from all factions of the party as an asset on a possible trip to the White House. 

"I definitely consider Tim to be someone who has the integrity and experience to be president of the United States," said Bay Area-based investor and pro-Scott super PAC donator Bill Oberndorf.

That said, while Scott is reportedly a shoo-in for re-election in the South Carolina midterms, his chances at the presidency are admittedly less favorable — many Republicans expect former President Donald Trump or Florida Gov. Ron DeSantis (R) to ultimately take the 2024 nomination. However, big donors nonetheless view Scott as a politician destined for prominence down the line, whether that's in the Senate or on Pennsylvania Avenue.

"I think he's destined to do great things in the Senate and wherever else he winds up going," said donor Drew Sparacia. Read more at Politico.