Nicole Shanahan’s $19M for RFK Jr.’s campaign is just a fraction of her wealth

Nicole Shanahan, a prominent attorney, has made significant financial contributions to support Robert F. Kennedy Jr.’s presidential campaign, spending nearly $19 million. Despite her substantial backing, Kennedy failed to secure any votes before he suspended his campaign.

Shanahan appears to be unfazed by the outcome of her investment. Notably, she made a large donation of $4 million to a pro-Kennedy super PAC, which was used to fund a major advertisement during the Super Bowl. Recently, she suggested that Kennedy should withdraw from the race and endorse former President Donald Trump. Just days later, Kennedy announced he would indeed support Trump after suspending his campaign.

In a recent interview on the “Impact Theory” podcast, Shanahan expressed her frustration with the situation. “I did not put in tens of millions of dollars to be a spoiler candidate,” she explained. “I put in tens of millions of dollars to win and to fix this country.”

She expressed concerns about the implications of her campaign spending drawing votes away from Trump, stating, “There’s two options that we’re looking at and one is staying in, forming that new party, but we run the risk of a Kamala Harris and Walz presidency because we draw votes from Trump, or we could potentially draw even more votes from Trump.”

As a successful Silicon Valley philanthropist, Shanahan has the resources to absorb the financial hit from her political endeavors. Following her divorce from Sergey Brin, a co-founder of Alphabet, she reportedly received a staggering $1 billion. This wealth came after rumors of an affair with Tesla CEO Elon Musk, which both Shanahan and Musk have denied.

Shanahan has previously quipped that her wealth played a role in Kennedy’s choice of her as a potential running mate. After Kennedy left the Democratic primary race, he needed substantial financial support to establish the necessary organization for a viable presidential bid. This included the costs associated with getting on the ballot in every state, a considerable hurdle for third-party candidates who often struggle to garner public support.

According to reports from Bloomberg News, Shanahan ranks among the most significant self-funding candidates in the 2024 election cycle. However, she is not the top contender in this category. That title belongs to Rep. David Trone of Maryland, who spent over $60 million of his Total Wine fortune, only to lose in a Democratic Senate primary.

The challenges associated with self-funding are notable. Michael Bloomberg faced criticism during the 2020 election after spending $500 million, winning only American Samoa before dropping out of the Democratic primary race. While some candidates, like Illinois Governor JB Pritzker, have successfully leveraged their family wealth, others, like reality TV star Mehmet Oz, found that their financial resources could hinder their electoral prospects.

In this competitive political landscape, the outcome of expenditures does not always align with expectations. As Shanahan transitions her support to Trump, her journey in the political arena underscores the complexities of candidacy and funding in elections.

As the political scene unfolds, the impact of financial backing remains a critical factor that shapes the strategies and successes of candidates in the upcoming elections.

Source: Business Insider