During the CNN presidential debate on June 27, the public saw the 81-year-old Biden repeatedly freeze up and lose his train of thought. Aides attributed this to a cold he seemingly picked up during his weeklong out-of-the-public preparation for the debate held in Atlanta. This all created panic and alarm even within his own party.
Major Democratic donors were also alarmed.
Barry Diller, chairman of IAC Inc., previously contributed a $6,600 donation to the Biden campaign and provided $100,000 to a joint super PAC supporting the president and the Democratic Party in September.
IAC Inc. is an American megacorporation that owns dozens of notable media and entertainment companies, including The Daily Beast, Entertainment Weekly and People. The company has a market cap or net worth of over $4 billion.
One week after Biden's catastrophic debate performance, Diller confirmed to internet publication The Ankler that he and his wife, Belgian-American fashion designer Diane von Furstenberg, are no longer financially supporting the president.
This was confirmed by The Ankler newsroom coordinator Matthew Frank, who asked Diller in an email if he and his wife were holding firm with the Biden campaign. Diller simply replied, "No."
Major Democratic donors withdraw support following Biden's disastrous debate performance
The power couple is the latest to back away from Biden following his disastrous debate performance on June 27.
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In an email to the New York Times, Netflix co-founder Reed Hastings and his wife, Patty Quillin, who donated $1.5 million to Biden’s 2020 campaign and $100,000 last summer, have also called on Biden to step aside to make way for a more dynamic Democratic leader capable of defeating Trump. (Related: Netflix co-founder, Disney family heiress, other Democratic megadonors pausing donations until Biden steps aside.)
Meanwhile, producer and showrunner Damon Lindelof called for Democratic donors to withhold support until Biden is replaced in an op-ed article he wrote for Deadline. Lindelof also emailed Frank to acknowledge the collective denial within the party regarding Biden's capabilities.
"We've had limited interaction with [multimillionaire media mogul and Democratic megadonor Jeffrey Katzenberg] and didn't need our arms twisted to contribute to the Biden campaign… We're dutiful soldiers in that sense," he wrote in the email for Frank. "For what it’s worth, I don't personally feel like any deception occurred re: The President… we were all in a collective denial and I take full responsibility for that."
Similarly, Abigail Disney, the granddaughter of Roy O. Disney and heiress to the substantial Disney family fortune, has also decided to withhold donations until Biden steps down.
"I intend to stop any contributions to the party unless and until they replace Biden at the top of the ticket," she said in her statement to CNBC. "This is realism, not disrespect. Biden is a good man and has served his country admirably, but the stakes are far too high. If Biden does not step down the Democrats will lose. Of that I am absolutely certain. The consequences for the loss will be genuinely dire."
Ari Emanuel, CEO of entertainment holding company Endeavor – which owns, among other notable brands, World Wrestling Entertainment and Ultimate Fighting Championship – bluntly declared at the Aspen Ideas Festival on June 28, the day after the presidential debate, that Biden "is no longer the candidate" and predicted that his campaign will falter due to the withdrawal of substantial financial support.
"We are in the F--- City. His cohorts have told us that he's healthy for over a year… It's a very simple test for me. If you were driving from downtown Beverly Hills to Malibu, would you want Biden to do it at night? Would you want Trump to do it at night? Or neither? If it’s neither, you cannot have them running a $27 trillion-dollar company called the United States." he said.
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Watch InfoWars founder Alex Jones predicting that Joe Biden will drop out of the presidential race in two weeks' time.
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