Heiress and major Democrat donor Abigail Disney has announced she will stop donations to Joe Biden and the entire party until the ailing president steps down.
The granddaughter to Roy Disney, the co-founder of the Walt Disney Corporation, has often made noise for her liberal politics despite her wealth, which is believed to be around $120 million.
'I intend to stop any contributions to the party unless and until they replace Biden 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 far too high,' she said in a statement.
The 64-year-old Disney's announcement 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 stands aside.
'If Biden does not step down the Democrats will lose. Of that I am absolutely certain. The consequences for the loss will be genuinely dire,' she continued.
Disney believes that the 'excellent' Vice President Kamala Harris is more than capable of topping the ticket.
'If Democrats would tolerate any of her perceived shortcomings even one tenth as much as they have tolerated Biden’s (and let’s not kid ourselves about where race and gender figure in that inequity) and if Democrats can find a way to stop quibbling and rally around her, we can win this election by a lot,' she said.
Disney's gifts have been generous toward the party during the Trump and Biden eras.
She has donated to Biden-affiliated and Democrat-affiliated PACs over the past decade to the tune of at least $635,000, according to CNBC.
Disney is not alone, as the hits just keep on coming for Biden, who angered Democrat governors at an emergency meeting Wednesday night where he claimed he wanted to stop working past 8pm to preserve his fading energy, per CNN.
A group of wealthy donors are also secretly plotting to start Next Generation PAC, a $50-100 million effort to support a Democrat nominee not named Joe Biden, according to the New York Times.
Next Generation PAC - founded by crypto billionaire Mike Novogratz - will hold its money until Biden's resigns and give to his replacement on the ticket. Should he not get out of the race, they will focus on down-ballot Democrats but not to Biden.
While the committee hasn't filed with the FEC, the Biden campaign has reportedly heard of it and tried to talk its backers into stopping.
Other donors refusing to give further include Gideon Stein of the Moriah Fund and philanthropist Karla Jurvetson, who gave over $30 million to the Dems in 2020 and has already donated $5 million in 2024.
Damon Lindlelof, the creator of Lost who has given $115,000 this cycle, is calling for a 'DEMBargo' on donations. until Biden steps down.
Biden world remains defiant at the news.
'We are the Democratic Party! These people don’t get to decide to oust a pro-labor pro-people President,' said Ron Klain, the former White House Chief of Staff who was one of three key 'grifting' Biden advisors blamed by the family for his shoddy debate performance.
The president is set to hold Fourth of July festivities at the White House Thursday evening with his and his party's future on the line amid growing pressure to step down after last week's debate performance.
It comes after the first elected Democrats came forward to urge Biden to step back, with just weeks to go before his party's convention in Chicago.
With fury over White House messaging since Biden stumbled his way through 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 check up that had him in good health.
That came shortly after White House Press Secretary Karine Jean-Pierre dodged direct questions during a contentious press briefing about whether Biden had been evaluated since Thursday's debate .
Biden is set to set to host veteran families, caregivers, and survivors, at an event that will put him back on the public stage, before the crucial interview with ABC interview is set to start airing Friday. Vice President Kamala Harris will be there.
