Abigail Disney, an heiress and granddaughter of one of the co-founders of The Walt Disney Company, announced she will resume her donations to the Democratic Party following President Joe Biden’s decision to drop his reelection bid. Earlier this month, Disney had stated she would halt contributions until Biden was replaced at the top of the ticket.
In an email to CNBC on Monday, she confirmed her intention to support the party again, now that Biden has endorsed Vice President Kamala Harris for president. During her initial announcement to withhold donations, Disney expressed her backing for Harris, stating, “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.”
Disney’s dissatisfaction with Biden escalated after his poor debate performance against former President Donald Trump, reflecting broader frustration among elite Democratic donors. This donor backlash and dwindling financial support were factors that contributed to Biden’s decision to bow out of the race. Additionally, prominent donors like George Soros and his son, Alex Soros, expressed their support for Harris following Biden’s announcement.