Giuliani loses financial support of billionaires Langone, Cooperman

Former Latest York City Mayor Rudy Giuliani is not going to be getting help along with his legal bills from most of the big-money donors who financed his 2008 campaign for president, in accordance with people conversant in the matter.

Giuliani was beloved by several business titans when he was mayor of Latest York City, who supported his 2008 presidential campaign that raised greater than $60 million, in accordance with those conversant in the matter and data from the nonpartisan OpenSecrets.

Yet, most of the donors who backed the previous mayor in 2008 are opting not to assist him pay for his growing legal bills as he’s defended his longtime friend former President Donald Trump, and faced charges of his own in Georgia for allegedly attempting to help Trump overturn the 2020 election, these people said.

Some people declined to be named on this story in an effort to speak freely about private deliberations.

Giuliani’s attorneys said in a recent court filing that the longtime Trump ally is having trouble paying his legal fees, and financial lifelines are running low for the person once often known as “America’s mayor.”

Backers walk away

Billionaire investor Leon Cooperman, who donated $2,300 to Giuliani’s 2008 campaign for president, in accordance with Federal Election Commission records, told CNBC he has no plans to help the previous mayor.

“I would not give him a nickel,” Cooperman said in a recent phone interview. “I’m very negative on Donald Trump. It’s an American tragedy. He was ‘America’s mayor.’ He did a fantastic job. And like everybody else who gets involved with Trump, it turns to s—.”

Ken Langone, who co-founded Home Depot and has an estimated net value of greater than $7 billion, in accordance with Forbes, doesn’t plan to present to a Giuliani legal defense fund, in accordance with his personal assistant. Langone contributed $4,600 to Giuliani’s 2008 campaign for president, in accordance with FEC records.

Brian France, former CEO of NASCAR who donated $9,200 to Giuliani’s 2008 run, in accordance with records, explained he too has no plans to assist the previous Latest York mayor this time.

“I used to be a significant supporter of Rudy in 2008 and at other times. I’m undecided what occur[ed] but I miss the old Rudy. I’m wishing him well,” France said in an email.

The businessman was once embroiled in a legal scandal of his own while leading NASCAR. France was arrested in 2018 and pleaded guilty to driving while intoxicated and took a leave of absence from the corporate.

One other Wall Street veteran who has known Trump and Giuliani for over a decade but selected to stay anonymous for this story told CNBC he has no plans to assist Giuliani along with his legal fees. This executive donated $2,300 to Giuliani’s 2008 run for president, in accordance with FEC records. This person said he didn’t wish to be named because he didn’t wish to be bothered by Trump or Giuliani.

Ted Goodman, a political advisor to Giuliani, sent CNBC a lengthy statement in response to this story that didn’t deny that prior supporters had backed away.

“I get that it’s more expedient to say nasty things concerning the mayor in an effort to stay in good graces with Latest York’s so-called ‘high society’ social circles and the Washington D.C. cocktail circuit, but I’d remind these same those that Rudy Giuliani is essentially the most effective federal prosecutor in American history, he improved the standard of life for more people than any Mayor in American history, and he comforted the nation following September eleventh. Nobody can take away his great accomplishments and contributions to the country,” Goodman said.

The Giuliani advisor also railed against those past allies, asking “where were they” when the previous mayor needed help with other controversies, including the moment then-candidate Joe Biden swiped at Giuliani through the 2020 debate versus Trump as “getting used as a Russian pawn.”

Goodman didn’t say who’s contributing to assist Giuliani pay for his legal fees or how much those entities have raised.

Giuliani’s fundraising

Giuliani is popping to his own efforts to boost money, including promoting the “Rudy Giuliani Defense Fund” on X, formerly often known as Twitter, and selling his over $6 million Latest York City apartment.

Giuliani and his son, Andrew Giuliani, are also raising money with a political motion committee titled Giuliani Defense, including a fundraiser for the PAC that may feature Trump himself.

Trump, who raised greater than $7 million after his arrest in Georgia, has yet to spend any of his political operation’s money on Giuliani’s legal fees, in accordance with FEC records.

Donors are being charged $100,000 to get into the Sept. 7 event with Trump at the previous president’s Bedminster, Latest Jersey, golf club, with a dozen expected to attend and just over $1 million set to be raised, in accordance with a one that previously spoke to CNBC.

The greater than $1 million may only crack a dent in Giuliani’s legal bills after he was indicted as a co-defendant with Trump and 17 others for allegedly attempting to overturn the election in Georgia. A legal expert previously told CNBC that co-defendants within the Georgia case will likely see no less than seven figures for his or her legal bills.

Giuliani also faces civil cases that may add to his financial woes. A federal judge recently issued a default judgment against Giuliani, ruling he’s responsible for the defamation of two Georgia election employees. The judge ruled Giuliani would must pay nearly $133,000 in sanctions for the attorneys’ fees for the plaintiffs, and is yet to rule on damages owed by Giuliani.

A minimum of considered one of Giuliani’s past donors, billionaire and longtime ally John Catsimatidis, said he’s committing to helping the previous mayor along with his legal bills.

“I probably will,” said Catsimatidis, who owns Latest York radio station WABC that employs Rudy Giuliani and his son.

Catsimatidis, who has a net value of around $4 billion, in accordance with Forbes, said he didn’t understand how much he would give to Giuliani’s fundraising efforts. Catsimatidis gave $4,600 to Giuliani’s 2008 campaign, in accordance with FEC records.

“We pay him a number of money to work for WABC,” Catsimatidis said. “I believe people should help Rudy Giuliani. The individuals who supported him up to now and liked him, those people should help him.”

Little outside support

Even outside the direct prior donors contacted for this story, some Republican fundraisers have up to now not heard from their wealthy clients about having an interest in helping the previous mayor.

“I do not have a crystal ball but I even have not heard of 1 donor or know of 1 donor,” said a strategist for considered one of Giuliani’s past top financiers in Latest York who declined to be named for this story to talk frankly concerning the former mayor’s financial struggles. “Are there going to be individuals who had deep relationships with him which can be him with pity and are going to assist him? Perhaps. I have not heard that anywhere.”

A veteran Latest York Republican fundraiser with clients that had close allegiances to Giuliani but selected to stay anonymous for this story was much more blunt.

“Rudy must have a statue in-built his honor for saving town, but as an alternative he’s a clown figure amongst the donor class and desires to run begging for money to pay for a legal defense during which he tried to overturn an election,” the fundraiser said in a text message.