In early July, 75 wealthy Democratic donors held a Zoom call to discuss President Joe Biden’s future after a disastrous debate performance against Donald Trump. Most donors believed Biden should drop out of the race to defeat Trump in November. These donors have since lobbied senior Democrats in Congress to publicly call on Biden to end his campaign. Some donors, including Hollywood executive Ari Emanuel and former President Bill Clinton, have urged others to stick with Biden. However, Biden has insisted he will not drop out despite pressure from over 20 members of Congress. Congressional leaders like Nancy Pelosi, Chuck Schumer, and Hakeem Jeffries have expressed concerns about Biden’s impact on down-ballot candidates if he stays in the race. Despite a fundraising collapse, events featuring Vice President Kamala Harris, Biden’s likely successor, have started to sell out. An event in Pittsfield, Mass. on July 27 with Harris, James Taylor, and Yo-Yo Ma as headliners is almost entirely sold out, suggesting continued support for the Democratic Party. Biden’s campaign did not respond to requests for comment, and representatives for other key figures did not provide comments to CNBC. Overall, the situation highlights divisions within the Democratic Party regarding Biden’s candidacy and the potential impact on the upcoming election.
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Democratic fundraisers urge Biden to drop out of race as Kamala Harris rallies draw large crowds
