By Molly Claire Goddard
7:58am PDT, Jun 24, 2025
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Left-wing billionaires aren't opening their wallets for the Democratic National Committee.
After
Kamala Harris' loss to
Donald Trump in the 2024 election and allegations about what happened behind-the-scenes of
Joe Biden's presidency being revealed, many of the party's biggest donors aren't writing checks to fund the "ineffectual" organization.
Keep reading to learn why the affluent members are fleeing the DNC…MORE:
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Business mogul
Barry Diller was one of the most loyal donors to the Democratic Party. However, this year, he's decided not to make any contributions.
"For a variety of reasons, I have no intention of donating to the DNC," the IAC executive — who gave $330,400 during the 2023-2024 election cycle — said in a statement to the
New York Post.
In Diller's memoir,
Who Knew, he slammed Joe Biden for not delivering his initial promise to the American people.
"I think the biggest crime of the Biden administration is that it came in with a pledge to restore a more civilized, selfless and uplifting manner of governance and instead let us all down with its progressive elitism, personal ego and cynical behavior. Such a shame," he wrote.
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Former New York City Mayor Michael Bloomberg is also withholding his cash from the DNC. The independent donated $413,000 during the last election cycle.
"There is just a broad consensus that the DNC is ineffectual and not where we should be giving money," an insider claimed. "But it's not surprising. 'I don't belong to an organized party, I'm a Democrat' is a longtime joke for a reason."
"We're so decentralized," the source emphasized. "The DNC has always been a joke. If you are a megadonor looking to shape the direction of the party, don't give to the DNC. At this point, the shape of the DNC is just embarrassing."
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Despite notable billionaires distancing themselves from the party, DNC Chairman Ken Martin claims the DNC will not have to take out any loans. A representative from the organization alleged they had collected $40 million in donations between February and May of 2025.
"In the early and mid 2010's, some big-money donors already tried not funding the DNC and state parties, instead funding groups outside of the Party, which hollowed out the critical work that the Party does while putting us behind the eight-ball when it came to critical coordination during the 2016 presidential election," one left-wing strategist told the New York Post. "We all know how that story ended — Donald Trump won the Presidency and the Democratic Party fell to an all-time low at every level of government. The Democratic Party needs a fully-funded Party to fight Donald Trump."
