How Ron DeSantis Squandered $154 Million and Achieved Nothing

In a surprising turn of events, Florida Governor Ron DeSantis and his financial backers find themselves grappling with the aftermath of a presidential bid that burned through an astonishing $154 million. With an eye-watering expenditure of approximately $6,500 per vote in Iowa’s Republican caucuses, the campaign failed to yield any tangible results.

A Lavish Bid for GOP Primaries

The Florida governor and his allies embarked on a high-stakes venture, accumulating over $154 million in expenses last year. Their objective: to carve out a space for DeSantis as a formidable contender in the GOP primaries and, notably, to sideline the influential presence of former President Donald Trump.

“DeSantis and allies’ costly endeavor signals a bold bid for GOP prominence, challenging Trump’s influence,” said Wall Street Journal Subscription.

Faltering Finances and Strategic Disputes

As the campaign progressed, a notable slowdown in donations became evident in the fall. This financial hiccup led to DeSantis achieving a lackluster second-place finish in Iowa. It culminated in his withdrawal from the race just days before the New Hampshire primary. Strategic disputes within the campaign and its supporting super PAC, “Never Back Down,” added to the challenges.

Resource-Intensive Strategy Unveiled

Recent data exposes the extent of DeSantis’s resource-intensive strategy. Over $27 million was allocated to canvassing and field operations. The company directed at least $8 million towards payroll and allocated about $1.3 million for direct mail campaigns. The lion’s share of funding came from the pro-DeSantis super PAC, “Never Back Down,” which amassed an impressive $145 million in total contributions this election season.

Beyond Traditional Expenses: Private Jets and More

The spending spree extended beyond traditional campaign expenses. Over $2.5 million was directed towards private jets. The company spent additional millions on staging and lighting equipment, survey research, legal consulting, and rent. Despite early fundraising successes, the campaign encountered pitfalls, including a glitch-filled launch and overstaffing leading to layoffs.

Struggles to Connect and Attract Support

Ron DeSantis struggled to connect with voters on an emotional level, further complicating his political trajectory. His conservative positions diverging from Trump, along with controversial comments, alienated some donors. By January, it became evident that DeSantis couldn’t overcome Trump’s dominance, culminating in a second-place finish in Iowa with 23,491 votes compared to Trump’s 56,243.

Financial Woes and Donor Signals

Donors provided early warnings, with individual contributions plummeting by 60% from the previous quarter. The campaign had only $9.7 million in the bank by New Year’s Eve, making further campaigning in early primary states an uphill battle. The campaign’s struggle to attract small-dollar donors underscored structural issues that ultimately contributed to its demise, marking a humbling end to a once-promising political journey.

“Campaign faced dire financial setbacks, losing 60% in donations, ending with $9.7M, signaling uphill battle’s end,” according to Barron’s.