Abigail Disney, the heiress and granddaughter of one of the founders of The Walt Disney Company, has announced that she will resume her financial support for the Democratic Party now that President Joe Biden has decided not to pursue reelection.
Earlier this month, Disney had publicly stated that she would halt her contributions to the Democratic Party unless Biden stepped aside. In a recent email to CNBC, she confirmed her change in stance, expressing her intention to support the party again after Biden’s withdrawal and his endorsement of Vice President Kamala Harris for president.
In her prior statement against Biden, Disney expressed her endorsement of Harris, emphasizing the capabilities of the current Vice President. “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 stated.
Disney’s withdrawal of support was part of a larger trend among elite Democratic donors who grew frustrated with Biden, especially following his poor debate performance against former President Donald Trump. Reports suggest that pressure from this donor class and dwindling funds contributed to Biden’s decision to exit the race. Additionally, prominent donors like George Soros and his son, Alex Soros, have also endorsed Harris following Biden’s announcement.