At a glance
WHAT IT’S REALLY ABOUT
Donor Backlash Reshapes Democratic Giving Amid Biden 2024 Uncertainty
- Political strategist Brian Derrick discusses how Democratic donors are reacting to President Biden’s shaky reelection prospects and where money is actually flowing in 2024.
- He explains Oath, his data-driven platform that redirects “rage donations” away from unwinnable or low-impact races toward high-leverage contests and down-ballot targets.
- Mid-level and some major Democratic donors are increasingly withholding funds from Biden and shifting to Senate, House, state legislative, and state supreme court races, while Trump’s big-donor fundraising is surging.
- Derrick warns that a Biden landslide loss could devastate Democrats up and down the ballot and argues that chaos within the party is already here; the real question is whether to emerge with Biden or a new nominee.
IDEAS WORTH REMEMBERING
5 ideasChannel donations strategically rather than reactively.
Instead of “rage donating” against high-profile villains, donors can use tools like Oath to identify competitive, high-stakes races where their money is likelier to change outcomes, especially in close state and local contests.
Mid-level and major Democratic donors are pressuring Biden by redirecting funds.
Many in the mid-tier donor class are halting direct contributions to Biden and moving money to Senate, House, and alternative efforts, using financial leverage to signal that they want a more viable nominee.
Down-ballot races may determine policy outcomes even if the top of the ticket falters.
State legislatures and state supreme courts in places like Michigan, North Carolina, and Arizona shape redistricting, abortion access, voting rights, and gun laws—so protecting these seats can mitigate a poor presidential result.
Biden’s campaign is financially buffered in the short term, but not invulnerable.
He has already raised historic sums and won’t face an immediate cash crunch before the convention, but whether donor taps fully reopen afterward depends on if he emerges as the nominee and whether donors feel they have alternatives.
Trump is capitalizing on billionaire backing and policy concessions.
Trump’s fundraising is stronger than in 2020, driven by huge checks from billionaires and industry interests (e.g., oil executives), with clear signs he is tailoring his platform to please these donors.
WORDS WORTH SAVING
5 quotesPeople see something happen on the news and immediately run and donate to try and get that person out of office, when really those funds could be much better used somewhere else.
— Brian Derrick
I had my staff... prepare a memo that said the worst-case scenario. And so if Biden loses in a landslide... it's devastating to look at.
— Brian Derrick
You can’t make it work entirely without both. You need both [big and small donors] in order to put together the scale of campaign that is required to win in 2024.
— Brian Derrick
The damage has been done in terms of chaos, and unfortunately... it was done by President Biden. He entered this chaos into the conversation with his debate performance.
— Brian Derrick
He has spent the last three months in back rooms with billionaires, and they have really stepped up.
— Brian Derrick on Donald Trump
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