Walt Disney Company heiress and liberal megadonor Abigail Disney said she will withhold cash to the Democratic Party until President Biden drops out of the 2024 race.
Biden's disastrous performance at last week's debate has caused widespread concern about his candidacy from Democrats who now believe he is not up to running the country for another four years. Abigail Disney, granddaughter of Walt Disney Co’s co-founder Roy Disney and longtime donor to the Democratic Party, is among the influential liberals who have seen enough.
"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," Abigail Disney told CNBC.
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"If Biden does not step down, the Democrats will lose. Of that I am absolutely certain," Disney continued. "The consequences for the loss will be genuinely dire."
The Disney heiress has a preferred replacement and wants Democrats to overlook Vice President Kamala Harris’ "shortcomings" after years of giving Biden a pass.
"We have an excellent vice president. 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.
The Walt Disney Company did not immediately respond to a request for comment.
Abigail Disney’s contributions have included giving $50,000 to the Jane Fonda Climate political action committee in April and $150,000 in 2014 to Planned Parenthood Votes, according to CNBC.
During the now-infamous debate, Biden repeatedly lost his train of thought mid-sentence, got confused and visibly struggled to combat former President Trump’s arguments in real time. An onslaught of media outlets and high-profile Democrats have since called for him to step aside from re-election.
Biden has insisted he has no plans to drop out. He is scheduled to do a much-anticipated interview with Disney-owned ABC News on Friday.
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Disney's stance could be troubling for Democrats if more rich donors follow suit. Gideon Stein, president of the Moriah Fund, said he is pausing planned donations of $3.5 million that would go to election-related nonprofits and political organizations, CNBC reported.
