Major Democratic Donors Urge Biden To Step Down, Threaten To Withhold Funding

American President Joe Biden is facing a critical pressure from some major Democratic donors few days in his campaign for re-election.

A number of donors are publicly warning they will withhold funds unless Biden is replaced as the party’s candidate following his debate performance outcome last week.

They include Abigail Disney, an heiress to the Disney family fortune, Hollywood producer Damon Lindelof, Hollywood agent Ari Emanuel, and philanthropist and entrepreneur Gideon Stein.

Biden, however, is seeking to shore up his candidacy this weekend, including with a rare primetime TV interview on Friday and a rally in Wisconsin.

Pressure on Mr Biden, 81, to step aside has grown following a debate marked by several instances where he lost his train of thought and was incomprehensible.

While he admitted that he “screwed up” that night, he has vowed to stay on as his party’s standard-bearer taking on Donald Trump in the November presidential election.

“I’m not going anywhere,” he said at a White House gathering marking 4 July Independence Day in the US.

Ms Disney told the US business news channel CNBC that she did not believe that Mr Biden could win against Trump in November.
She said her intent to pull support was rooted in “realism, not disrespect”.

“Biden is a good man and has served his country admirably, but the stakes are far too high,” Ms Disney, who has supported a number of Democrats and Democratic causes over the years, said.

“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.”

Mr Stein told the New York Times that his family was withholding $3.5m (£2.8m) to non-profit and political organisations active in the presidential race unless Mr Biden steps aside.

Mr Lindelof, who has donated more than $100,000 to Democrats this election cycle, wrote a public essay urging other donors to withhold their funds in what he dubbed a “DEMbargo”.

“When they text you asking for cash, text back that you’re not giving them a penny and you won’t change your mind until there’s change at the top of the ticket,” Mr Lindelof wrote in Deadline.