President Joe Biden is under pressure from key Democratic donors during a crucial period in his re-election campaign. Several prominent donors have threatened to withhold funds unless Biden is replaced as the party’s candidate, following his poor debate performance last week.
Among the vocal critics are Abigail Disney, heiress to the Disney family fortune, Hollywood producer Damon Lindelof, Hollywood agent Ari Emanuel, and philanthropist and entrepreneur Gideon Stein. Biden is working to bolster his candidacy with a rare primetime TV interview on Friday and a rally in Wisconsin.
The 81-year-old president has faced increasing calls to step aside after a debate where he repeatedly lost his train of thought. Despite admitting he “screwed up,” Biden is determined to continue his campaign against Donald Trump in the upcoming November election. “I’m not going anywhere,” he stated at a White House event on July 4th.
Abigail Disney expressed her doubts about Biden’s electability against Trump, stating that her decision to withhold support is based on “realism, not disrespect.” She emphasized that the stakes are too high and predicted a Democratic loss if Biden remains the candidate.
Joining Disney, Gideon Stein announced that his family would withhold $3.5 million from nonprofit and political organizations involved in the presidential race unless Biden steps down. Damon Lindelof, who has donated over $100,000 to Democrats, penned an essay urging other donors to initiate a “DEMbargo” and refuse donations until there is a change in the ticket.
Ari Emanuel, brother of former Obama chief of staff Rahm Emanuel, suggested at a Colorado conference that drying up campaign funds might be the only way to ensure Biden’s exit. He noted that several big donors are redirecting their contributions to congressional and senatorial campaigns.
Reed Hastings, co-founder of Netflix and a significant Democratic Party donor, urged Biden to step aside to allow a vigorous Democratic leader to challenge Trump. While some donors are pushing for Biden’s withdrawal, others worry about the potential chaos of a contested race to replace him.
