Donors turn away from Biden
Not only within his own party, but among donors as well, anxiety is spreading after Joe Biden's weak TV debate performance. Several prominent donors of the Democratic Party have withdrawn their support. The NBC network and the "New York Times" reported that a wealthy Disney heiress has withheld her financial backing for the party until Biden withdraws from the presidential candidacy race. "Biden is a good man who has served his country well, but there's too much at stake to let indecisiveness determine our approach," both media outlets quoted from a statement by Abigail Disney. If Biden doesn't withdraw, the Democrats will lose.
According to the "New York Times," a group of donors is also working on financially supporting the next generation of the Democratic Party. The money could be used for a potential successor candidate. Campaigns in the USA are extremely expensive. Only those who have the necessary small funds can sustainably stay in the race - and keep going. Biden's campaign team reportedly collected $264 million in donations in the second quarter of the year. Trump's campaign team reported $331 million for the same period.
A few days ago, Reed Hastings, co-founder of the streaming service Netflix and one of the most important donors of the Democrats, had already made a clear statement. "Biden needs to clear the way for an energetic Democratic politician who can beat Trump and bring us security and prosperity," he told the "New York Times."
"Nobody believes he can beat Trump," Whitney Tilson, a former hedge fund manager and donor, criticized Biden. He had withdrawn his support and called for a new candidate after the TV duel. "Nobody believes he can beat Trump," Tilson told CBS on Thursday in the US. "The train has left the station."
Biden is currently facing decisive tests that could determine his political future. Today, he is supposed to face questions from TV journalist George Stephanopoulos in Wisconsin. The entire interview is scheduled to be broadcast during prime time (2 a.m. in German night from Saturday to Sunday). Biden's campaign team has reportedly announced that the president will travel to contested states in the coming weeks. The 81-year-old is also expected to speak more freely.
A week ago, Biden had given a disastrous performance in the evening TV debate with his Republican challenger Donald Trump. After the debate, a debate ensued in the US about whether Biden is really the right candidate for the Democrats in the presidential election in November. Biden's poll numbers worsened not only nationally but also in key states that are usually decisive. These states are typically considered battleground states.
In light of his weak performance in the recent TV debate, there are growing concerns within the Democratic Party and among prominent donors about Joe Biden's ability to win the US presidential election in 2024. Donald Trump, his potential opponent, has also expressed interest in running again.
Despite Biden's strong fundraising efforts, with his campaign team collecting $264 million in the second quarter, some influential donors like Reed Hastings and Whitney Tilson have withdrawn their support due to doubts about his ability to beat Trump.
