Not so long ago, Jeffrey Katzenberg promised he would raise all the resources Joe Biden would need for re-election. Now, it appears he is failing to live up to that promise as donors continue to jump ship following the president’s catastrophic debate performance.
Jeffrey Katzenberg, who serves as Biden’s campaign co-chair, held an emergency meeting Wednesday with the 81-year-old president in Las Vegas where he warned that donations are drying up due to ongoing concerns about the president’s age, according to a Semafor report.
The former Hollywood boss reportedly told Biden that the road ahead to another term now looks very difficult.
Katzenberg later denied the report, saying in a statement that it was a “misread of a private meeting” and that he and Biden “talked about everything from the convention to new ads. And by the way, we will raise the money we need to run a winning campaign.”
"They say money is the mother's milk of politics, and it has really dried up," says @semaforben after Jeffrey Katzenberg reportedly warned Pres. Biden that donors' patience is wearing thin. "People have stopped writing checks." pic.twitter.com/tjhpLoJJl3
— Last Call (@LastCallCNBC) July 17, 2024
But Semafor reported that Democrat strategist James Carville confirmed the report. “This I can confirm,” he told the outlet. “Donors in revolt.”
Biden is seeing growing calls for him to quit his re-election campaign as the president has failed to allay concerns about his cognitive decline. On Wednesday, Rep. Adam Schiff (D-CA) became the latest Democrat leader to turn on Biden, urging him to give up.
Courtesy of CNN Presidential DebateHollywood donors are abandoning the Biden campaign in droves.
They include George Clooney, Endeavor CEO Ari Emanuel, Netflix co-founder Reed Hastings, veteran studio boss Barry Diller, and Lost creator Damon Lindelof. Rob Reiner — one of Biden’s most loyal Hollywood supporters — has called on the president to “step down.”
As Breitbart News reported, Jeffrey Katzenberg pledged last year to deliver “all the resources” that the deeply unpopular Biden would need to win re-election.
Now, Katzenberg is feeling the wrath of donors after he spent months re-assuring them that Biden was mentally fit.
“Everyone is furious,” one leading Hollywood Democratic insider reportedly said. “People are pissed – they feel betrayed.”
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