Cedric Richmond, former co-chair of President Biden's re-election campaign, has expressed outrage at major donors who cut off funding prior to Biden's decision to withdraw from the race, accusing them of creating a self-fulfilling prophecy.
Cedric Richmond, the former co-chair of President Biden's now-defunct re-election campaign, has voiced his anger at big donors who decided to withhold their contributions, suggesting that their actions forced Biden to forego his re-election efforts.
Following Biden's announcement on Sunday that he would no longer run for a second term, Richmond told CNN that wealthy donors had "created a self-fulfilling prophecy" after Biden's widely criticized debate performance.
Biden Campaign Co-Chair 'Livid' at Big Donors for Withdrawing Funds
"You can't win without money, and then they were going to point the finger at the candidate. They were going to blame it on Biden," he said. "For a president that has accomplished so much, it was a no-win situation."
Richmond also delivered a clear message to those who turned away from Biden: "Now those donors need to step the f--- up."
Biden Campaign Co-Chair 'Livid' at Big Donors for Withdrawing Funds
Top Democratic fundraiser Lindy Li expressed similar sentiments before Biden's announcement, telling Fox News Sunday that fundraising for Biden had become increasingly difficult.
"Fundraising has – big money fundraising has slowed. People – major donors who have pledged massive amounts of checks, and I'm talking six, seven – 7-figure checks have suddenly disappeared, fallen off the face of the Earth, rescinded their pledges," Li said.
Biden Campaign Co-Chair 'Livid' at Big Donors for Withdrawing Funds
Li also stated that if Biden were to withdraw, it would be a "catastrophic mistake" and "political malpractice" to skip over Vice President Kamala Harris.
In the wake of Biden's withdrawal, Harris has received an outpouring of support from celebrities and Hollywood A-listers, including George Clooney, Brad Pitt, and Oprah Winfrey. Harris's campaign announced on Tuesday that she raised $100 million from Sunday afternoon to Monday night, surpassing former President Trump's and the Republican National Committee's combined online fundraising haul in the first 24 hours after Trump's conviction on 34 felony counts.
The surge in fundraising for Harris highlights the shift in support among Democrats, who now see her as the frontrunner in the 2024 presidential race. However, Biden's former campaign co-chair remains adamant that wealthy donors played a significant role in his decision to withdraw.
Richmond's comments have ignited a debate about the influence of big money in politics, with some critics arguing that donors have an undue influence on the outcome of elections. Others maintain that contributions from wealthy individuals are essential for candidates to run successful campaigns.
As the 2024 presidential race approaches, the spotlight will be on the fundraising strategies of the candidates and the impact of big donations on the outcome of the election.
