Disney Heiress Shifts Political Donations: What Changed?

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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 after President Joe Biden decided not to seek reelection.

Earlier this month, Disney stated that she would halt contributions until Biden was replaced at the top of the ticket. Following Biden’s withdrawal and his endorsement of Vice President Kamala Harris for the presidential campaign, she confirmed via email to CNBC that she would start supporting the party again.

When she made her initial decision to withhold donations, Disney expressed her backing for Harris, emphasizing the Vice President’s potential. She remarked, “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 if Democrats can find a way to stop quibbling and rally around her, we can win this election by a lot.”

Disney’s discontent with Biden emerged particularly after his debated performance against former President Donald Trump, reflecting a broader dissatisfaction among elite Democratic donors. Reports suggest that pressure from major donors contributed to Biden’s decision to step down. Additionally, George Soros and his son, Alex Soros, have also endorsed Harris in the wake of Biden’s announcement.

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