President Joe Biden is currently facing backlash from some of his own party’s wealthy donors, including Abigail Disney, an heiress to the Disney family fortune. Abigail Disney, the granddaughter of Roy O. Disney, who helped start The Walt Disney Company, has publicly stated that she will no longer be funding the Democratic Party until Biden drops out of the presidential race. Despite Biden’s reassurance that he has no intentions of withdrawing from the race, donors like Disney believe that the stakes are too high for him to continue.
In a statement to CNBC, Abigail Disney expressed that her decision to withhold donations is based on realism rather than disrespect towards Biden. She acknowledges Biden as a good man who has served his country well, but she firmly believes that if he does not step down, the Democrats will face a bleak outcome in the upcoming election. Disney’s drastic response sheds light on the dissatisfaction within the party following Biden’s lackluster debate performance against former President Donald Trump.
The Democratic Party as a whole is currently in a state of panic due to Biden’s struggle to compete with Trump. Rep. Lloyd Doggett of Texas has openly called for Biden to drop out of the race, citing his poor debate performance as evidence of his inability to challenge Trump effectively. A recent poll conducted by The New York Times/Sienna College revealed that Biden is behind Trump by 6 percentage points among likely voters. Despite the calls for him to step down, representatives from the Biden campaign have remained silent on the matter.
Abigail Disney’s history of supporting Democratic causes adds weight to her decision to halt donations until Biden is replaced. Her contributions to political action committees and organizations aligned with the Democratic Party showcase her commitment to the party’s values. Disney’s endorsement of Vice President Kamala Harris as a potential replacement for Biden underscores the urgency for change within the party leadership. She believes that Harris has the potential to secure a victory over Trump if given the opportunity.
Gideon Stein, the president of the Moriah Fund, has also announced his decision to pause planned donations amounting to $3.5 million until Biden steps down. Stein, echoing the sentiments of many major donors, believes that a new candidate is necessary to defeat Trump in the upcoming election. Likewise, philanthropist Karla Jurvetson, a significant Democratic donor, has hinted at aligning with the idea of pausing donations until Biden’s withdrawal. Jurvetson’s substantial financial contributions to the Democratic Party further highlight the significance of her stance.
The uprising among Democratic party donors against President Biden signifies a growing discontent within the party regarding his ability to lead the nation to victory in the upcoming election. The decision of influential donors like Abigail Disney, Gideon Stein, and Karla Jurvetson to withhold contributions until a new candidate is chosen emphasizes the urgency for change within the party’s leadership. As the debate around Biden’s candidacy intensifies, the Democratic Party faces a critical juncture in its quest to secure the presidency.