Abigail Disney, an heiress and descendant of the co-founder of The Walt Disney Company, announced that she will resume her financial support for the Democratic Party now that President Joe Biden has officially dropped his reelection bid. Earlier this month, she had declared her intention to halt donations until the party found a replacement for Biden at the top of the ticket.
In an email to CNBC, Disney confirmed her decision, stating, “Yes, I will resume supporting,” following Biden’s withdrawal and his endorsement of Vice President Kamala Harris for the presidency.
When initially withholding her donations, Disney had 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…this inequity is influenced by race and gender. If the party can unite around her, we can win this election by a significant margin.”
Disney was among several prominent Democratic donors who criticized Biden after his poor debate performance against former President Donald Trump. Reports suggest that the pressure from major donors and a decline in financial support played a role in Biden’s decision to step aside.
In addition, financier George Soros and his son, Alex Soros, have also expressed their support for Harris in light of Biden’s announcement.