Wealthy Democratic donors say they won’t finance the party until Biden drops out

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Abigail Disney said in a lengthy statement to CNBC. “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.”

Gideon Stein, the president of the Moriah Fund, said he’s decided to pause planned donations of $3.5 million, earmarked for nonprofits and political organizations aligned with the presidential race.

“Joe Biden has been a very effective president, but unless he steps aside my family and I are pausing on more than $3 million in planned donations to nonprofits and political organizations aligned with the presidential race, with the exception of some down ballot work,” Stein said. “Virtually every major donor I’ve talked to believes that we need a new candidate in order to defeat Donald Trump.”


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