They have threatened to stop their funding if Biden doesn’t back down
In a recent public speech, US President Joe Biden caused a real stir Ukrainian President Volodymyr Zelensky is being confused with his Russian counterpart Vladimir PutinThe gaffe shocked those present, including Zelensky, whose surprised reaction was caught on cameras.
This error was not the only one of the day, Biden had called just moments earlier to name his predecessor Donald Trump as his Vice President, Kamala Harris. These flaws have led to growing unrest within the Democratic Party, with prominent figures such as Actor George Clooney are expressing their concern publicly. Clooney, a well-known donor to the party, made a direct appeal Biden considers withdrawingArguing that he is no longer the same leader as he was in 2020.
According to reports in the ‘New York Times’, the White House even intervened to persuade Clooney not to publish his critical article. This reflects the growing pressure from Democratic donors, who control a significant amount of Biden’s campaign funds. Recently, Many of these donors have threatened to seize up to $90 million Funding if Biden does not decide to withdraw from the race.
Who funds US campaigns?
Campaign financing in the United States is largely dependent on Private donationshas a significant impact on the electoral process. As of April this year, official records show that President Biden’s campaign has raised a total of $195 millionWhile his rival former President Donald Trump’s campaign did not gain much from this. $124 millioncoming almost entirely from private donations.
Among the most notable donors is timothy mellona major banker, who has allocated a record $75 million to the Trump campaign. In addition, financial support also comes from prominent figures in sectors such as energy, oil, real estate and the influential Rifle Association, which invested $30 million in the last campaign.
For Biden, the main support comes from technology workers in Silicon Valley, university staff and government officials. Significant donations come in, as they michael bloombergwith $20 million, and the co-founder of Facebook, with more than four million.
Experts say these millionaire donors have clear expectations about the election results, hoping Influence future policies Through their financial support.
What happens to the revenue if Biden is gone?
Regarding succession, the Biden campaign still has more than $90 million available, as US laws indicate that the vice president Kamala Harris can receive these fundsGiven that he is the only potential successor who is on the same electoral list as Biden, that could have a significant impact on the country’s political future.