Billionaire Reid Hoffman won't be donating more money to Nikki Haley's presidential campaign, a person familiar with his decision told CNBC.
Hoffman, the co-founder of LinkedIn and a top Democratic donor, last month gave a super PAC supporting Haley $250,000.
At the time, he said his decision for the donation was over his concerns that former President Donald Trump would be back on the GOP ballot.
"One of the problems we have in the 2024 election is that we're going to have a candidate who's going to be running on the 2020 election was essentially fraudulent, which is kind of the equivalent of a big lie," Hoffman told Barron's in early December.
"It kind of goes back to [Joseph] Goebbels in Germany and so forth," said Hoffman, likening Trump's tactics to those of Adolf Hitler's propaganda chief. "It's terrible. And so I think it's very important to be pro-American democracy, pro our rule of law. And as part of that, it's Nikki Haley, a competent governor and a politician who has a bunch of different policies that I disagree with but is an American institutionalist in terms of our democracy and our rule of law and so forth. And so in articulating that was to say, look, I will support her, too, because I'm fundamentally first and foremost an American, a believer in our system, a believer in our Constitution, a believer in our democracy, a believer in coming together and working on these problems together."
The report comes after Trump cruised to victory in New Hampshire's Republican presidential contest, marching closer to a November rematch with Democratic President Joe Biden.
Haley, a former South Carolina governor, vowed to soldier on.
"This race is far from over," she told supporters at a post-election party in Concord, challenging Trump to debate her. "I'm a fighter. And I'm scrappy. And now we're the last one standing next to Donald Trump."