Facing a litany of court battles and pushback from party loyalists, Donald Trump may see a fundraising shortfall ahead of his 2024 presidential bid.

Conservative billionaire Charles Koch, who serves as CEO of Kansas-based Koch Industries, Inc., the second-largest privately held company in the U.S., appeared to signal in a memo released Sunday that his deep-pocketed Americans for Prosperity political advocacy group would not back Trump in 2024, stating that the Republican Party needs to "turn the page on the past."

"The best thing for the country would be to have a president in 2025 who represents a new chapter," Americans for Prosperity chief executive Emily Seidel said in the memo.

The 1,319-word memo doesn't reference Trump. However, it seems to imply that Republicans must move on from the former president, who lost the popular vote in 2016 and 2020.

"The American people have shown that they're ready to move on, and so AFP will help them do that," the memo reads.

Losing the support of AFP could be devastating for Trump's primary bid. In 2009, the powerful group helped transform the Tea Party movement into a political force that led to Republicans gaining control of the House, while Republican senators were unified in preventing President Barack Obama from executing his agenda.

According to Open Secrets, AFP has given massive amounts in political contributions, lobbying and outside spending. Losing financial support from AFP, with the funding instead shifted to a political rival, could have a strong impact on Trump's campaign hopes.

The memo comes as Trump's mounting legal troubles may have some Republican strategists wondering if he should remain the face of the party. Furthermore, the level of Republican discontent with Trump remains unclear after failing to successfully complete a "red wave" in the 2022 midterm elections.

"He's fading fast," former House Speaker Paul Ryan told CNN's Jake Tapper on Jan. 12. "He is a proven loser. He cost us the House in 2018. He cost us the White House in 2020. He cost us the Senate again and again."

Koch has long favored free trade, which was at odds with Trump's draconian stance against U.S. trade agreements.

In 2018, Trump posted on Twitter: "The globalist Koch Brothers, who have become a total joke in real Republican circles, are against Strong Borders and Powerful Trade." Charles Koch's brother, David Koch, died in 2019.

It's unclear which Republican candidate AFP might throw their support behind in 2024.

Trump loyalists Nikki Haley, who served as U.S. Ambassador to the United Nations in the Trump administration, and Florida Gov. Ron DeSantis, who has famously gained national attention in recent months due to a growing rivalry with Trump, are considered potential Republican nominees. New Hampshire Gov. Chris Sununu, Sen. Josh Hawley, R-Mo., and Sen. Ted Cruz, R-Texas, may also weigh a White House bid.

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