Ken Langone, a co-founder of Home Depot, said further donations to former U.S. Ambassador to the United Nations Nikki Haley hinge on the results of the primary election in New Hampshire next week.

The billionaire told the Financial Times on Thursday that he’s waiting for the results of the first-in-the-nation primary before giving a “major gift” to Haley.

“If she doesn’t get traction in New Hampshire, you don’t throw money down a rat hole,” Langone said, looking to Tuesday’s election.

Langone backed Haley in December, touting her as the best alternative to former President Donald Trump who is also most likely to defeat President Joe Biden in the general election. But after Trump comfortably emerged victorious from the Iowa caucuses, Langone predicted a Biden-Trump rematch in November, saying he would “probably” vote for the former president if he is the GOP nominee. 

While Langone would likely support the embattled former president when casting his ballot, the wealthy investor condemned Trump’s actions at the end of his presidency. 

“Trump showed that from Election Day 2020 to Jan. 6, his whole focus, in my opinion, was himself — not what was good for the country,” Langone said.

Langone did concede that “away from the histrionics, away from the drama, away from the lack of decorum,” the former president “did some pretty good things.”

“My problem is we’re going to need a very competent manager, as well as a president-statesman,” Langone said. “I am supporting Nikki Haley because I think she comes [as] close to what you could hope for as anybody out there.”

Haley described the Republican race as a two-person contest between her and Trump after a third-place finish in Iowa with 19% of the vote, while Gov. Ron DeSantis (R-FL) gathered 21%, 30 points behind Trump, who had a massive lead at 51%. 

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A survey from American Research Group released on Tuesday shows Haley and Trump tied in New Hampshire at 40% each among the state’s likely Republican primary voters. 

The Washington Examiner reached out to Haley’s campaign for comment.