"That's all, folks!"
Abigail Disney, an heir to the Disney media empire and a major contributor to the Democratic Party, said she would not give one more cent to the party unless President Joe Biden drops out of the race following his disastrous debate performance with Donald Trump, according to reports.
She said the Democrats and affiliate groups "will not receive another dime from me until they bite the bullet and replace Biden," she told the New York Times.
"Biden is a good man and has served his country admirably, but the stakes are far too high to allow timidity to determine our course of action," Disney said in a statement.
"If Biden does not step down the Democrats will lose. Of that I am absolutely certain. The consequences for the loss will be genuinely dire," she emphasized to CNBC.
The granddaughter of Roy Disney, the co-founder of the Walt Disney Co., is among a growing exodus of wealthy Democratic donors who say they will no longer contribute to the party as long as Biden remains atop the ticket.
Gideon Stein, another deep-pocketed donor, told the New York Times that his family is withholding $3.5 million in planned donations to organizations involved in the presidential race unless Biden withdraws.
He told the outlet that other donors he had talked to are all on board with the belief that "a new ticket is in the best interest of beating Donald Trump."
Biden told reporters at the White House on Thursday that he has no plans to step back.
"You got me, man. I'm not going anywhere. All right," Biden said following a Fourth of July speech at the White House.
Disney told CNBC that Biden has a capable replacement in Vice President Kamala Harris.
"We have an excellent vice president. If Democrats would tolerate any of her perceived shortcomings even one tenth as much as they have tolerated Biden's (and let's not kid ourselves about where race and gender figure in that inequity) and if Democrats can find a way to stop quibbling and rally around her, we can win this election by a lot," she said.
