Crypto investor who gave Biden, 81, $200,000 in 2020 is SWITCHING his support to Dean Phillips because he thinks the president is ‘too old’ and we ‘need fresh people’
- Mike Novogratz Says He Will Support Rep. Dean Phillips in the Democratic Primary
- “I worked hard in 2020” for Biden, Novogratz told CNBC. This time: “I think he’s too old. I think Trump is too old too. We need fresh people”
- Phillips trails Biden in polls for Democratic presidential nomination
The billionaire crypto investor and longtime Joe Biden supporter is defecting to Dean Phillips in the 2024 White House election, citing the president’s advanced age.
Mike Novogratz, CEO of cryptocurrency firm GalaxyInvestment Partners, said the country needs “fresh people.”
‘I worked hard in 2020’ for Biden, Novogratz said CNBC. This time: “I think he’s too old. I think Trump is too old too. We need fresh people.”
Biden turned 81 in November. Donald Trump, who leads the polls for the Republican presidential nomination, will turn 78 next June.
Mike Novogratz, CEO of cryptocurrency firm GalaxyInvestment Partners, said he will support Rep. Dean Phillips in the Democratic presidential primary.
Novogratz gave $200,000 to support Biden’s 2020 campaign and the Democratic National Committee and more than $1 million to Defeat By Tweet, a super political action PAC that opposed Trump.
On Saturday, he will co-host a Phillips campaign fundraiser in New York at the home of David Barry, president and CEO of real estate company Urby.
Novogratz, 59, a former Goldman Sachs partner, has a net worth of $1.5 billion.
He told CNBC he believes Phillips is a smart centrist with a strong business background.
In October, Phillips, a Minnesota representative little known nationally, launched an ambitious campaign against Biden.
Meanwhile, Novogratz also said he plans to meet with Republican nominee Nikki Haley next month as he weighs whether he can help her defeat Trump in the race for the GOP nomination.
A Biden campaign spokesman said he did not know Novogratz.
“I don’t know who it is, but we appreciate his support of the president and wish him the best,” Biden campaign spokesman TJ Ducklo told CNBC.
President Joe Biden, 81, has faced questions about his age; he is the oldest elected president in American history
Rep. Dean Phillips trails Joe Biden by 69 points in the November poll.
Biden, who is the oldest president in American history, has faced questions about his mental and physical health. His doctor said he was healthy and ready to become president.
But polls show Americans are as concerned about his age as they are about Trump, who is just three years younger than Biden.
An August Associated Press poll found that 77% of respondents thought Biden was too old to be effective in a second term.
Phillips also cited Biden’s age when announcing his decision to challenge the president in the Democratic primary. It has a steep climb. A Morning Consult poll in November showed him trailing Biden by 69 points.
He pointed to Washington Equizor that both Biden and Trump will be well into their 80s by the end of their terms if elected.
He also noted that numerous polls show serious public concern about both men, adding: “They don’t want either of them in the White House.”
“There is a huge appetite for change,” Phillips said. “The essential desire to turn the page and what I call the frustration of the jaded majority with controversy, dysfunction and nonsense, and looking for someone who wasn’t a part of it, is not the reason for this, and they want someone new. ‘