Wealthy Democratic donors, including a Disney heiress, have stated that they will not finance the party until Joe Biden drops out.

• Abigail Disney, a member of the Disney family, intends to withhold contributions to Democrats until Joe Biden withdraws from the presidential race.
• Biden has said he has no plans to drop out of the race.
• Gideon Stein announced that he has decided to temporarily halt his planned donations of $3.5 million.

Some wealthy donors from President Joe Biden's own party, including an heiress to a family fortune, are threatening to stop funding the Democratic Party unless Biden resigns after his poor debate performance.

Abigail Disney, the granddaughter of Roy O. Disney, who founded The Walt Disney Company, announced on Thursday that she will stop donating to the political party she has supported for years until Biden drops out of the presidential race. Despite his statement that he has no plans to withdraw, Biden has been urged to do so by several individuals.

"Abigail Disney stated in a lengthy CNBC interview that she intends to stop any contributions to the party until Biden is replaced as the top of the ticket. She emphasized that this is not a sign of disrespect but rather a matter of realism. Biden is a good man who has served his country admirably, but the stakes are too high. If Biden does not step down, the Democrats will lose, and the consequences will be dire, she said."

Since Biden's poor performance in the debate against Trump last week, the Democratic Party has been in a state of panic. Rep. Lloyd Doggett, D-Texas, has urged Biden to drop out of the race, arguing that the debate demonstrated to voters that the president is unable to compete with Trump and cannot close the polling gap.

A poll conducted by The New York Times and Sienna College following the debate revealed that Trump had a 6-point lead over Biden among probable voters.

Representatives for the Biden campaign did not return requests for comment.

Abigail Disney has consistently backed Democrats and recently donated $50,000 to the Jane Fonda Climate political action committee, as per a Federal Election Commission filing. The PAC has also contributed $35,000 to Democrats running for congressional seats, according to OpenSecrets data.

In 2014, Planned Parenthood Votes, a PAC linked to the health care nonprofit, received $150,000 from Disney. This election cycle, the PAC has spent more than $400,000 supporting Democrats, including $26,000 for Biden.

Disney suggested Vice President Kamala Harris as a strong contender to defeat Trump, arguing she would make a capable alternative to Biden.

Disney stated that if Democrats could tolerate Vice President's perceived shortcomings even one tenth as much as they have tolerated Biden's, and if they could stop quibbling and rally around her, they could win the election by a lot.

Gideon Stein, president of the Moriah Fund, has decided to pause $3.5 million in planned donations to nonprofits and political organizations aligned with the presidential race until Biden steps down.

"Joe Biden has been an 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."

Karla Jurvetson, a philanthropist and major Democratic donor, recently hinted in a private donor call that she agrees with the sentiment on pausing donations until Biden steps down and could end up making such move, according to a source who was granted anonymity to discuss a private conversation.

A spokesman for Jurvetson did not return repeated requests for comment.

Jurvetson is one of the top 50 donors this cycle nationwide, having given over $5 million to Democrats, as per OpenSecrets. Additionally, she has contributed over $200,000 to the Biden Victory Fund this cycle, according to FEC records.

In 2020, Democrats received more than $30 million from Jurvetson, as per the data.