President Joe Biden is facing backlash from some of his own party’s wealthy donors, with Abigail Disney, the heiress to the Disney family fortune, leading the charge. Disney, granddaughter to Roy O. Disney, who cofounded The Walt Disney Company, recently announced that she will no longer fund the Democratic Party until Biden drops out of the presidential race following his disastrous debate performance. This move is sending shockwaves through the Democratic Party, as Disney’s financial support has been significant in the past.
Biden’s Debate Performance Sparks Concern
The Democratic Party is in a state of panic following Biden’s lackluster performance in the debate against former President Donald Trump. Rep. Lloyd Doggett, D-Texas, has called on Biden to step down, pointing to the debate as evidence that the president is incapable of taking on Trump and unable to close the gap in the polls. A recent New York Times/Sienna College poll showed Biden trailing Trump by 6 percentage points among likely voters, further fueling concerns among Democratic donors.
Abigail Disney is not alone in her decision to withhold donations until Biden exits the race. Gideon Stein, the president of the Moriah Fund, has also announced a pause on planned donations totaling $3.5 million, citing the need for a new candidate to defeat Trump. Other major Democratic donors, such as Karla Jurvetson, are reportedly considering similar actions, underscoring the growing pressure on Biden from within his own party.
Disney pointed to Vice President Kamala Harris as a viable alternative to Biden, emphasizing her ability to defeat Trump in the upcoming election. She called on Democrats to rally around Harris, highlighting the disparities in how perceived shortcomings are tolerated based on race and gender. By throwing her support behind Harris, Disney is signaling a desire for a change in leadership that she believes will give Democrats a better chance at winning the presidency.
The decision by wealthy Democratic donors to withhold contributions until Biden drops out of the race has significant implications for fundraising efforts. With millions of dollars in donations at stake, the party may face challenges in financing key initiatives and campaigns. The pressure from donors like Disney, Stein, and Jurvetson highlights the growing discontent within the party and raises questions about Biden’s ability to unify Democrats behind his candidacy.
The Road Ahead
As calls for Biden to step down grow louder among wealthy Democratic donors, the president faces a critical juncture in his campaign. The pressure to withdraw from the race is mounting, with influential figures within the party expressing doubts about his ability to secure victory in November. Biden’s response to these challenges will be closely watched as the Democratic Party grapples with internal divisions and seeks a path forward to defeat Trump.
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