At the 2024 Libertarian convention, the first ballot had Michael Rectenwald in the lead, although no one had a majority. This was the first Libertarian presidential convention since 2004 in which the first-place finisher did not win the nomination. Chase Oliver, who consistently placed second until the final two ballots, won the nomination on the seventh ballot.
The last Libertarian convention for which the first ballot leader did not win the nomination was the 2004 convention. Aaron Russo had the most votes in the first round, but eventually Michael Badnarik received the nomination.
For the two major parties, the last time the candidate who received the most votes on the first ballot did not win the nomination was the 1952 Democratic convention. Estes Kefauver had the most votes in the first round, but Adlai Stevenson won on the third round.
For the Republican Party, the last instance was 1940, when Thomas Dewey lead in the first three ballots but did not get the nomination. Wendell Willkie won it on the sixth ballot.