Republican Tim Scott Will Challenge Trump in May for the 2024 Nomination

Tim Scott plans to make his 2024 presidential run official, after the South Carolina US senator tested the waters with an exploratory committee earlier this month.

(Bloomberg) — Tim Scott plans to make his 2024 presidential run official, after the South Carolina US senator tested the waters with an exploratory committee earlier this month.

Scott aims to formally announce the bid by the end of May, according to a person familiar.

He would join a Republican field that includes former President Donald Trump, fellow South Carolinian and former United Nations Ambassador Nikki Haley, entrepreneur Vivek Ramaswamy, former Arkansas Governor Asa Hutchinson and conservative radio host Larry Elder. Florida Governor Ron DeSantis, the current runner-up to Trump in most polls, is widely expected to formally jump into the race sometime in May as well.

The only Black Republican US senator currently in the chamber, Scott, 57, has visited early GOP primary states such as Iowa and New Hampshire, speaking about his faith and outlining an optimistic view of an America grounded in conservative principles. He also hosted a donor summit in South Carolina, another state that holds a GOP primary early in the cycle.

Scott, who has served in the Senate since 2013, often shares his experience growing up poor in North Charleston and what inspired him to overcome those struggles.

The South Carolina senator has been an effective fundraiser. His 2022 Senate race wasn’t competitive, but he still raised $43 million and had $22 million left over, which he can tap for a presidential run.

Some 85% of the money came from out-of-state donors, according to OpenSecrets, and among his top 10 sources of campaign cash were employees of Goldman Sachs Group Inc., Blackstone Group Inc., and JPMorgan Chase & Co.

The Opportunity Matters Fund, an allied super-PAC raised $37 million last year. Oracle Corp. Chairman Larry Ellison gave $30 million, but other big Republican donors also chipped in. Citadel’s Ken Griffin contributed $250,000, Marc Rowan, chief executive officer of Apollo Global Management Inc., gave $150,000, and Blackstone Chairman Stephen Schwarzman gave $100,000.

The super-PAC, which features Scott on its home page, ended 2022 with $13 million, according to its latest filing with the Federal Election Commission.

An Emerson College poll released Thursday showed Trump leading a potential Republican presidential field at 62%, with the closest competitor being DeSantis at 16%. The survey showed Scott at 0.4%.

Other potential GOP candidates include New Hampshire Governor Chris Sununu and former Vice President Mike Pence. Earlier this week, President Joe Biden officially announced his widely-expected 2024 reelection bid.

–With assistance from Bill Allison.

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