Heiress and major Democratic donor Abigail Disney has announced she will stop donating to Joe Biden and the entire party until the ailing president resigns.
The granddaughter of Roy Disney, co-founder of the Walt Disney Corporation, has often made noise for her liberal politics despite her wealth, believed to be around $120 million.
“I intend to stop making contributions to the party unless Biden is replaced at the top of the ticket. This is realism, not disrespect. Biden is a good man and has served his country admirably, but the stakes are too high,” she said in a statement.
The announcement by Disney, 64, comes just a day after Netflix co-founder Reed Hastings became one of the first liberal megadonors to turn off the spigot until the president steps aside.
“If Biden does not withdraw, the Democrats will lose. I am absolutely sure of that. The consequences of defeat will be truly dire,” she continued.
Heiress and major Democratic donor Abigail Disney has announced she will stop donating to Joe Biden and the entire party until the ailing president resigns.
“If Biden doesn’t step down, the Democrats will lose. I’m absolutely sure of that. The consequences of defeat will be truly dire,” Disney said.
Disney believes the “excellent” Vice President Kamala Harris is more than capable of leading the ticket.
“If Democrats would tolerate any of his perceived flaws even a tenth as much as Biden’s have (and let’s not kid ourselves about the place of race and gender in that inequity) and if Democrats can find a way to stop arguing and unite around her, we can win this election by a landslide,” she said.
Disney’s gifts have been generous toward the party during the Trump and Biden eras.
He has donated to PACs affiliated with Biden and Democrats over the past decade totaling at least $635,000, according to CNBC.
Disney is not alone as the blows keep coming for Biden, who angered Democratic governors at an emergency meeting Wednesday night, where he claimed he wanted to stop working after 8 p.m. to preserve his waning energy, according to CNN.
A group of wealthy donors is also secretly plotting to start Next Generation PAC, a $50 million to $100 million effort to support a Democratic candidate not named Joe Biden, according to New York Times.
Next Generation PAC, founded by cryptocurrency billionaire Mike Novogratz, will hold onto its money until Biden steps down and hand it over to his replacement on the ticket. If he doesn’t drop out of the race, they will focus on Democrats on the lower ticket, but not Biden.
While the committee has not filed its candidacy with the FEC, the Biden campaign has reportedly heard about it and has tried to convince its supporters to stop doing so.
Disney believes ‘excellent’ Vice President Kamala Harris is more than capable of leading the ticket
Next Generation PAC, founded by cryptocurrency billionaire Mike Novogratz, will hold its money until Biden steps down and give it to his replacement on the ticket. If he doesn’t drop out of the race, they will focus on Democrats on the lower ticket but will still not give money to Biden.
Other donors refusing to give more include Gideon Stein of the Moriah Fund and philanthropist Karla Jurvetson, who gave more than $30 million to Democrats in 2020 and has already donated $5 million in 2024.
Damon Lindlelof, the creator of Lost, who has donated $115,000 this cycle, is calling for an “embargo” on donations until Biden resigns.
Biden’s world remains defiant in the face of the news.
“We are the Democratic Party. These people have no right to decide whether a president who stands with working people and the people should be impeached,” said Ron Klain, a former White House chief of staff and one of three key Biden advisers whom the family blamed for his poor debate performance.
The president is scheduled to celebrate the Fourth of July at the White House on Thursday night with his future and that of his party at stake amid mounting pressure for him to resign after his performance in last week’s debate.
This comes after early Democratic elects came forward to urge Biden to step back, just weeks before their party’s convention in Chicago.
Angry over White House messaging since Biden stumbled in his debate with Donald Trump in Atlanta, the president reassured governors in a private meeting about his health and political viability, even telling them about a recent checkup that found him in good health.
This came shortly after White House press secretary Karine Jean-Pierre dodged direct questions during a contentious news conference about whether Biden had been tested since Thursday’s debate.
Biden is set to host veterans’ families, caregivers and survivors at an event that will put him back on the public stage ahead of a pivotal interview with ABC that begins airing Friday. Vice President Kamala Harris will be there.