Trump is set to get a fundraising boost from Wall Street executive Omeed Malik, who helped Florida Gov. Ron DeSantis fund his failed presidential bid.
NBC NEWS
Veteran Wall Street executive Omeed Malik plans to raise over $3 million and donate at least $100,000 in support of Donald Trump’s campaign, making him the latest backer of Florida Gov. Ron DeSantis’ failed bid to help the former president.
Malik, who is the CEO of Farvahar Partners, said in an interview that after having helped to raise money and give voice to the likes of DeSantis and independent candidate Robert F. Kennedy Jr., he now plans to turn to his extensive network to help finance Trump’s campaign for president.
“What I am committing to doing is putting the resources that I have and Rolodex I have, both of which are material, behind the president on a go-forward basis,” Malik said.
Malik’s bona fides are rare in Trump’s orbit. Until recently, he was living in New York City and identifying as a Democrat. He was a regular donor to both Democrats and Republicans, sitting on the Council of Foreign Relations and building a traditional Wall Street résumé with stints at Bank of America and the corporate law firm Weil, Gotshal & Manges LLP.
But Malik was disturbed by what he saw as government overreach during the Covid pandemic, which pushed him to move to Florida and begin gravitating toward the right side of the aisle. And, like many Trump voters, he said it was what he deemed the “weaponization of regulatory and legal systems” that drew him to the former president.
“It’s starting to become prime time here between [President Joe] Biden and Trump, and this is when I can be much more effective,” Malik said.
The pandemic also inspired him to pursue alternative ventures. Malik’s firm, 1789 Capital, is a financial backer behind Tucker Carlson’s media company. The firm aims to help create a sort of parallel economy that appeals to more conservative consumers. He’s also behind PublicSquare, a conservative shopping app meant to rival Amazon.
Now his focus is turning to making a marked impact on the 2024 election.
Malik plans to raise at least $3 million for Trump’s campaign for president, an adviser told CNBC. That’s the same amount he raised for DeSantis’ 2022 campaign for governor. The adviser was granted anonymity to describe private efforts to help Trump.
Malik also donated over $100,000 to DeSantis’ allied political action committee during his successful 2022 re-election bid, according to state campaign finance records. When DeSantis ran for president, Malik co-hosted an event for him in the lucrative Hamptons region of New York.
The adviser said Malik aims to give at least $100,000 to a Trump fundraising committee but has yet to decide which one. He also plans to meet privately with Trump in Florida to discuss their fundraising strategy, the adviser said. Malik is already a member of Mar-a-Lago, Trump’s private club in Palm Beach.
Malik’s officially moving over to help Trump makes him the latest former DeSantis fundraiser to bet on Trump to win the Republican primary campaign over Nikki Haley and possibly defeat Biden in the general election. Dan Eberhart, another DeSantis bundler, announced during the New Hampshire primary that he was moving back to help Trump.
Malik’s decision to become so visible and outspoken in his support of Trump is a rarity among his peers in the Wall Street establishment. The group has been known to keep a safe distance from Trump. Many had chosen to support Haley or DeSantis or stay on the sidelines until a strong Trump alternative appeared — a donor dream that never became reality.
