Abigail Disney, the heir to the Disney family's fortune, has made a remarkable decision: to suspend plans to direct political donations.
The decision to postpone the original $3.5 million contribution indefinitely was a sensitive reaction to the political environment.
Abigail Disney has made it clear that she will wait for President Biden to leave the campaign before making a decision.
Some important businesses and individuals who once supported Biden have begun to stop funding.
The Disney family, once a symbolic contributor to Biden's campaign, announced that it would no longer contribute to it.
In order to understand the importance of fundraising in the U.S. election, we must have a deep understanding of the role of money in political campaigning.
In the United States, election campaigns often require large sums of money to support advertising campaigns, strategic consulting, and ground campaigns.
Individual donations and rallying fundraising are the two main sources of fundraising that have a direct impact on a candidate's ability to effectively convey their message and perspective.
Campaign fundraising isn't just about paying team salaries and advertising.
In the 2020 presidential election, campaign teams and supporters collectively raised a whopping $14.4 billion.
These funds are used far beyond that, supporting a complex range of activities, including data analysis, voter surveys and online campaigns, as well as local campaigns.
The U.S. political fundraising system is such that funding is not limited to donations from large corporations or wealthy families, but also includes large amounts of small individual donations, reflecting direct voter support for candidates and their platforms.
In the 2024 U.S. presidential campaign, corporate donations are not only a means of financial support, but also seen as a "disguised investment".
Major enterprises support their favorite candidates through donations, hoping to get policy support and benefits after the candidates are elected.
In the recent debate, the performance of the incumbent President Joe Biden has caused widespread concern and controversy.
Some of his rhetoric and policy promises have failed to stabilize market and corporate sentiment as expected, leading some of the companies that would have supported him to revisit their giving strategies.
The Biden campaign is in an unprecedented predicament.
The Democratic Party is beginning to face a difficult choice: whether to continue to support a presidential candidate who has lost such an important source of funding? The conditions for the suspension are also obvious: if Biden does not withdraw from the campaign, the donation will not continue.
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