More Democratic Megadonors Abandon Biden

Dozens of business leaders have called on President Joe Biden to pull out of the 2024 election, urging the 81-year-old Democratic candidate to preserve democracy and “cement your legacy.”

“We respectfully urge you to withdraw from being a candidate for reelection for the sake of our democracy and the future of our nation,” the letter to senior White House officials read.

The open letter, organized by the pro-Democrat Leadership Now Project, received 168 signatures but continued to receive more after it was delivered. Among its signatories were Walmart heiress Christy Walton, former NFL commissioner Paul Tagliabue, billionaire investor Mike Novogratz, and former Google executive Ning Mosberger-Tang.

“First and foremost, our number one concern is the risk that former president [Donald] Trump presents to the economy, to national security and the risk that he undermines rule of law,” Daniella Ballou-Aares, the CEO of the Leadership Now Project, said in an appearance Thursday on CNN, noting that the coalition of business leaders no longer believe that Biden will be able to sway enough voters to prevent another Trump presidency. Among their top concerns, per the letter, is the threat that Trump carries with regard to global and domestic instability, the abandonment of foreign allies, “crony capitalism,” political retribution, and further erosion of civil rights for women and minority groups.

“We are also engaging with members of Congress in the House and the Senate, making our concerns heard and sharing those of course also with the White House and the administration,” Ballou-Aares added. “We know that we alone will not drive this decision but we believe that adding our voice to it and encouraging others to come forward and recognize the risk and severity of the situation is our obligation, frankly, to this country.”

In the letter’s closing words, the coalition of private-sector leaders appeals to Biden’s nationalistic duty, recalling one of the biggest political junctures in early U.S. history in urging the president to pass the torch, “just as George Washington did.”