Abigail Disney, an heiress and granddaughter of one of the co-founders of The Walt Disney Company, announced that she will resume her financial support for the Democratic Party now that President Joe Biden has decided not to seek reelection.
Earlier this month, Disney had declared her intention to halt donations to the Democratic Party until a new candidate was chosen to lead the ticket. Following Biden’s announcement to endorse Vice President Kamala Harris for the presidency, she confirmed in an email to CNBC that she would resume her support.
When she initially decided to withdraw contributions, 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 (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 withdrawal of support was part of a larger reaction from prominent Democratic donors who were dissatisfied with Biden’s performance, especially following a poor debate against former President Donald Trump. Reports suggest that the pressure from wealthy donors and a decline in fundraising may have influenced Biden’s decision to step aside.
In addition to Disney, influential figures such as George Soros and his son, Alex Soros, also backed Harris after Biden made his announcement.