Democratic megadonors like Netflix co-founder Reed Hastings (left) and Abigail Disney are pressuring President Joe Biden to back down. Getty Images
A growing number of wealthy Democrats are using their checks to pressure Biden to back down.
Some, such as Netflix co-founder Reed Hastings, are no longer supporting Biden.
The donor revolt is yet another obstacle to Biden's winning streak after his disastrous debate performance.
Some major Democratic donors are pressuring President Joe Biden to step down.
A growing number of Hollywood moguls, powerful heiresses and Democratic staunch supporters have vowed to end their support for Biden until he withdraws.
His disastrous performance in the presidential debates has some people so infuriated by his stance that they have vowed to eliminate all Democrats.
So far, only two Democrats have called on Biden to back out. The combined weight of the party's wealthy elite could become too great to bear.
Former President Donald Trump has already negated Biden's financial advantage with a surge in donations following Trump's felony conviction, and Biden and his allies cannot afford to lose a big advantage elsewhere.
Here's a list of donors who want Biden to step down
Reed Hastings
Netflix co-founder Reed Hastings has been one of the most prominent people to call on Biden to step down. Ole Huijn / Getty
Netflix co-founder Reed Hastings is among the megadonors who have joined the call for Biden to step down. Hastings told The New York Times that the president needs to step down so “strong Democratic leadership can defeat Trump and make us safe and prosperous.”
According to the Times, Hastings and his wife, Patty Quillin, have donated more than $20 million to various Democratic causes in recent years. Last summer, Hastings donated $100,000 to the Biden Victory Fund, a joint committee that includes Biden's reelection, the Democratic National Committee and state Democratic parties.
Abigail Disney
Abigail Disney, co-founder and heir to entertainment giant Disney, has pledged to suspend donations to all Democrats until Biden leaves office. Thassos Katopodis
Abigail Disney, daughter of entertainment giant co-founder Roy O. Disney, told CNBC that she will halt all donations to Democrats until Biden leaves office.
“Biden is a good man and has served our country well, but the stakes are too high,” Disney said. “If Biden doesn't step down, the Democrats will lose. I'm absolutely certain of that. The consequences of a loss would be truly devastating.”
Barry Diller
Legendary Hollywood executive Barry Diller offered a brief statement when asked about his support for Biden. Michael Loccisano/Getty Images (Courtesy of Semaphore)
IAC chairman Barry Diller told journalist Matthew Frank that he too had disassociated himself from Biden.
Asked if he still supported the president, Diller told Frank's newsletter, The Ankler, “No.”
Diller has already donated $6,600 to Biden, the largest amount ever, and also donated $100,000 to the Biden Victory Fund last year.
Damon Lindelof
Damon Lindelof is calling for “DEMbargo” until Biden leaves office. REUTERS/Mario Anzoni
Damon Lindelof, creator of “Lost” and legendary showrunner, penned a column urging fellow donors to “DEMbargo” and block out all Democrats until Biden leaves office.
“When a country doesn't do what we want, we impose tough economic sanctions. It's give and take: short-term pain is long-term healing,” Lindelof wrote in a Deadline column. “Is it wrong to punish the entire team for a pitcher's stubbornness? Maybe, but common sense dictates that if he stays, the team loses too. A rising tide floats all boats. A falling Biden sinks the ship.”
Gideon Stein
Gideon Stein, pictured here in 2015, said his family would suspend $3.5 million in campaign-related contributions until Biden withdraws. Michael Kovac/Getty Images, Vanity Fair
Donor and philanthropist Gideon Stein, whose late father founded the influential liberal donor group Democracy Alliance, told The New York Times that his family plans to withhold $3.5 million from groups involved in the presidential campaign unless Biden steps down.
“[A] “A new candidate is in the best interest of defeating Donald Trump,” Stein told the Times.
Christy Walton
AP
Walmart heiress Christy Walton co-signed a letter imploring President Biden to withdraw from the race. According to Bloomberg, the letter, compiled by the Leadership Now Project and signed by 168 tycoons, argues that “American democracy itself is at stake in November.” The signatories sincerely thank Biden for his service and ask him to “pass the torch of leadership to the next generation of Democratic leaders by forgoing reelection.”
Walton, 75, is worth about $14 billion, making her the 10th richest woman in the United States.
