A cohort of left-wing industry titans are the latest to call on Joe Biden to step down from the 2024 presidential race, with the group writing in a statement Wednesday that it is time for the president to “pass the torch.”
The organization, called the Leadership Now Project, is made up of more than 400 active, current and retired political leaders, the majority of whom support progressive causes and candidates.
In a statement, the group wrote that there is a whole new “generation of highly capable Democrats” waiting for their chance to defeat Donald Trump, something they fear an 81-year-old Biden may no longer be capable of doing.
The group said Thursday’s debate was “deeply concerning,” not only because Biden struggled to speak coherently at times, but also because he failed to challenge Trump as he spouted lie after lie.
“Biden has failed to make his case against Trump, and we now fear a devastating defeat in November,” they wrote. “The threat of a second Trump term is such that we must call on President Biden and the Democratic Party to pass the torch.”
The group conceded that a last-minute change at the top of the list would be “complicated”, but said that “the stakes are too high not to act”.
Members of the organization include Eddie Fishman, who runs the investment firm DE Shaw & Company; Jeni Britton, founder of Jeni’s Famous Ice Cream; Paul Tagliabue, former NFL commissioner; and John Pepper, former CEO of Procter & Gamble.
They join two sitting Democratic lawmakers, Reps. Raúl Grijalva (D-AZ) and Lloyd Doggett (D-TX), and dozens of political analysts who have called on Biden to end his five-and-a-half-decade political career.
Biden has given mixed signals about what he plans to do, with a report from The New York Times On Wednesday morning, he claimed to have told an ally that he was considering stepping down. But publicly, he and his spokespeople — for his campaign and in the White House — have insisted that he is mentally and physically capable of winning in November and governing for another four years.
The president acknowledged at a fundraiser Tuesday that he had not “had his best night of debate,” but noted that his campaign has since added a whopping $38 million to its war chest.
“So far, so good,” he said. “I’m happy with what’s happening.”
That sentiment could soon change if big names — and his generous donors — start to change their minds about their support for Biden, especially as new polls suggest his debate performance is seriously hurting him in the polls.
The Wall Street Journal It was reported Wednesday that some Biden donors justified their continued support by likening him to Yoda. Star Warswho is “old and frail but wise and influential.” They also claim that Trump, who is himself 78, is more like Jabba the Hutt, “a gluttonous and powerful gangster.”
Leadership Now suggested that others in the business world are already hoping Biden will throw in the towel, but are too afraid to ask for it publicly.
“We have heard from many people who share our deep concerns about the current situation but are afraid to speak out,” they wrote. “But we have a duty to speak out in a democracy and the time to do so is now. We call on others to join us in making this urgent appeal.”
