Billionaire Democratic donors, including Barry Diller and former New York Mayor Michael Bloomberg, are reportedly pausing donations to the party’s main fundraising committee amid a “broad consensus” that it’s “ineffectual,” sources with knowledge of the situation told the New York Post.
The report comes days after Diller, who recently released his memoir Who Knew criticizing former President Joe Biden‘s administration, personally told the New York Post that he had “no intention of donating” to the Democratic National Committee “for a variety of reasons.”
Bloomberg is also reported to be wary of donating to the DNC again, while hedge-fund manager Marc Lasry claimed he would ultimately give to the DNC again but didn’t specify when that would continue. Bloomberg was reported to have donated $413,00 to the DNC during the 2023-24 election cycle, while Diller donated $330,400 and Lasry gave $133,400.
Last week, a source with knowledge of the situation telling the New York Post that the DNC was reportedly cash-strapped and borrowing money while losing big donors and “f**ked” ahead of the 2026 midterm elections.
“We are six months in and we’re drowning,” the source said. “The RNC was so cash-heavy and hitting us day after day after day when Biden was president.
“We have no clear path or plan,” they added. “The midterms are going to come before we know it, and then we’re going to be really f**ked.”
The Democratic National Committee’s reported struggles come amid fighting among top officials after David Hogg left the committee, choosing not to run for reelection as vice chair amid backlash after he attempted to primary “out of touch, ineffective” incumbents in Congress, USA TODAY reports.
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