In recent days, concerns have been raised among Democratic donors about the viability of President Joe Biden's campaign following his performance in the presidential debate against former President Donald Trump. According to multiple sources, some donors have expressed their dissatisfaction with Biden's debate performance and have threatened to withhold their funds unless he steps down as a candidate.
One major donor, George Clooney, went so far as to call for Biden to withdraw from the race in an op-ed published by The Atlantic. Clooney wrote that Biden's debate performance was 'terrible' and that it was time for him to step aside and allow the Democratic Party to nominate a new candidate.
Nancy Pelosi, the Speaker of the House of Representatives, also raised doubts among donors with her comments on MSNBC about Biden's candidacy. Pelosi suggested that Biden may not be able to complete his term if re-elected due to his age.
Despite these concerns, some high-dollar donors have continued to support Biden. According to reports, the president invited donors into the White House for meetings and received nearly-million-dollar checks from tech entrepreneurs, venture capitalists, and other elites.
A recent Ipsos poll found that 28% of likely voters were confident in Biden's mental fitness to be president before the debate. Following the debate, this figure dropped to 20%. The poor showing in the debate has raised questions about whether Biden can win back those voters and secure enough support to win re-election.
The uncertainty surrounding Biden's campaign has led some donors to pause their contributions or seek alternative ways to support Democratic candidates. For example, Gideon Stein, president of Moriah Fund, paused on over $3m in planned donations until Biden is removed from the equation.
As the race for the White House heats up, it remains to be seen whether Biden can regain the trust and support of Democratic donors or if they will continue to look for alternative candidates. One thing is certain: The outcome of this election could hinge on which side is able to secure enough funding to get their message out and mobilize voters.