Analysis: Most of DeSantis' former billionaire backers aren't supporting presidential PAC

Running for re-election last year in Florida, Gov. Ron DeSantis amassed a huge stable of billionaire donors who seemed primed to help power his presidential campaign.

Most of that billionaire support doesn't appear to have carried over to DeSantis' contest against former President Donald Trump, though, another sign that the governor's campaign may be failing to inspire.

A USA TODAY NETWORK - Florida analysis of contributions to DeSantis' state political committee through May of last year found at least 42 billionaires and members of billionaire families had contributed, a level of billionaire support one expert called "extraordinary" for a governor's race.

Just six of those 42 gave money directly to the Never Back Down super PAC supporting DeSantis, according to financial records released Monday, while another four gave money to DeSantis' state political PAC this year, money that eventually was transferred to Never Back Down.

The USA TODAY NETWORK - Florida analysis of DeSantis' billionaire support only looked at donations to political committees, which can accept unlimited contributions and where billionaires potentially could have a big impact on fundraising. Direct contributions to campaign accounts are capped.

Why some big donors may be sitting on the sidelines

Fundraising has been one of DeSantis' biggest strengths. He raised more money for his reelection bid last year than any candidate for governor in U.S. history, and billionaires played a big role.

DeSantis continues to raise big money as he runs for president and has attracted some enormous contributions. Robert Bigelow, a wealthy hotel chain founder and space exploration entrepreneur who is not listed on Forbes billionaires list, gave Never Back Down $20 million.

Yet the fact that many of DeSantis' former billionaire supporters aren't cutting big checks to help his presidential campaign could be a sign that the donor class hasn't been impressed with his performance as he continues to lag far behind Trump in the polls.

Other billionaires may simply be sitting out the primary contest and waiting for the general election. Some of DeSantis' former billionaire backers have also been big Trump supporters.

Giving to DeSantis' reelection campaign didn't require breaking with Trump. Being forced to choose between the two in a head-to-head matchup is different.

DeSantis spokesman Andrew Romeo noted the governor raised more than Trump last quarter.

"Ron DeSantis raised more last quarter than any candidate in the field - including a current and former president - because donors know the governor is the only candidate who can beat Joe Biden and lead our Great American Comeback," Romeo said. "Our campaign is grateful for the tens of thousands of grassroots supporters - and major donors - who have made it possible for us to build an unmatched organization in the early nominating states with the ability to compete for the long haul."

DeSantis' billionaire supporters: See where they live across the US with this interactive map

Who are the billionaires backing DeSantis?

The billionaires who donated to DeSantis' reelection campaign and donated directly to Never Back Down include:

• Liz and Dick Uihlein, Wisconsin-based shipping company owners and GOP megadonors, who each gave $1 million to Never Back Down.

• Ed DeBartolo Jr., a Tampa real estate company owner, who gave Never Back Down $250,000.

• Leslie Liautaud is an author and the wife of Jimmy John Liautaud, who founded the Jimmy John's sandwich chain. Her husband donated to DeSantis' reelection bid and she gave Never Back Down $25,000.

• The DeVos family had four members who donated to DeSantis' reelection bid, including Trump Education Secretary Betsy DeVos. They are descendants of Amway co-founder Richard DeVos. The Orlando Magic NBA franchise, who is owned by the family, gave Never Back Down $50,000.

• Norman Braman, who owns a major car dealership in South Florida, is the former owner of the NFL’s Philadelphia Eagles and made a fortune in pharmaceuticals and cosmetics, gave Never Back Down $100,000.

• Ronald Wanek, a St. Petersburg resident who founded Ashley Furniture, gave Never Back Down $100,000 through a company he owns.

Not on the list of billionaire contributors to Never Back Down are some of DeSantis' largest donors last year, including hedge fund founder Ken Griffin, who gave DeSantis' state political committee $5 million, and private equity firm founder John Childs.

However, Childs, Jeff Yass, Chris Reyes and Jude Reyes – all of whom are included among the 42 billionaires in the USA TODAY NETWORK - Florida analysis – did give to DeSantis' state political committee this year, as he was gearing up to run for president and it appeared likely that money would be transferred to a federal PAC supporting the presidential campaign.

Yass gave $2.5 million to DeSantis' state committee, while Childs gave $1 million and each Reyes brother gave $1 million, money that eventually flowed into Never Back Down. All of the donations came in February. DeSantis announced his presidential campaign in May.

Who is donating to DeSantis? Ron DeSantis has at least 42 billionaire donors. Here are some of the most notable.

DeSantis also has picked up some new billionaire supporters.

Douglas Leone, a partner at venture capital firm Sequoia, gave Never Back Down $2 million. Leone – whose net worth is estimated at $6.7 billion by Forbes – isn't among the 42 billionaires identified in the USA TODAY NETWORK - Florida analysis last year.

Never Back Down only has a handful of mega donors, though. They are powering most of its fundraising.

The super PAC has raised $131 million, but $82.5 million of that was transferred from DeSantis' state committee, money left over from his reelection bid. Of the other $48.5 million, 67% came eight donations of $1 million or more.

This article originally appeared on Sarasota Herald-Tribune: Billionaires back away from Ron DeSantis as he takes on Donald Trump