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Joe Biden's Fundraising Debate
As the 2024 presidential election heats up, Joe Biden's fundraising efforts have become a significant point of contention. Despite a successful gala in Los Angeles that raised $30 million, some major Hollywood donors have begun to question their support for the 81-year-old president. The debate has sparked concerns about the viability of Biden's campaign, particularly after his underwhelming performance in the June 27 debate against Donald Trump.
Key figures in the entertainment industry, such as Netflix co-founder Reed Hastings and Walt Disney's granddaughter Abigail Disney, have called for Biden to step aside and allow a more vigorous Democratic leader to take the reins. Hastings, who has donated over $20 million to the Democratic Party, believes that Biden's continued candidacy could lead to a loss against Trump. Disney, too, has suspended her support, stating that "if Biden does not step down, the Democrats will lose".
The pressure on Biden is not limited to Hollywood. Senate Democratic majority leader Chuck Schumer and former House Speaker Nancy Pelosi have been holding emergency meetings with donors to address the growing unease about the president's campaign. The situation has become so critical that some donors are considering withholding funds to force Biden out of the race.
In the face of this mounting pressure, Biden remains resolute, insisting that he is the most qualified candidate to win the election. However, the growing chorus of dissent from influential donors and party leaders raises significant questions about the future of his campaign.
Original Article: https://www.cnbc.com/2024/07/08/joe-biden-fundraising-debate.html
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