Jeffrey Katzenberg, a key fundraiser and donor in Democratic politics, expressed astonishment at the “blockbuster” $72 million raised by Joe Biden and the Democratic National Committee in the first quarter of his re-election campaign. In an interview with FilmmakerFocus, Katzenberg stated, “There is no one on Planet Earth who would have predicted you would have had that kind of outpouring of support, particularly this early on.” He emphasized that the doubters and naysayers were proven wrong, as both grassroots supporters and major donors rallied behind Biden.
Katzenberg, who serves as a Biden campaign co-chair, refrained from discussing the ongoing strikes by the Writers Guild of America (WGA) and SAG-AFTRA. He stated that he didn’t want to mix his role in the Biden campaign with the current labor tumult. However, the White House released a statement affirming President Biden’s belief in fair pay and benefits for all workers, including actors. Biden has also expressed support for the striking writers.
While the official quarterly reports are yet to be filed, most presidential contenders have released their top-line fundraising figures. Former President Donald Trump, the frontrunner for the GOP nomination, raised less than half of Biden’s total, with $35 million in the quarter. However, it was noted that Biden’s fundraising figure was lower than the combined $86 million raised by Barack Obama and the DNC during the same period in 2011. Katzenberg pointed out that Biden had a shorter fundraising period, as he announced his campaign three weeks into the quarter. He estimated that if Biden had the same number of days as Obama, his fundraising would be closer to $100 million.
Katzenberg also highlighted that Biden currently has an unprecedented $77 million cash on hand, along with support from nearly 400,000 individual donors. He emphasized that raising such a substantial amount of money in a short period of time is a testament to the enthusiasm and support for President Biden and the job he is doing.
Regarding future campaign events, Katzenberg confirmed that Biden will visit Los Angeles at some point, as California has shown tremendous support for him. However, he acknowledged that Biden’s time is limited compared to when he was just a candidate, and they are mindful of that.
Despite media attention on Biden’s age and concerns about his ability to handle a rigorous general-election campaign, Katzenberg viewed Biden’s age as a superpower. He stated, “His success in the first two and a half years is largely attributable to his knowledge, experience, and wisdom.” Katzenberg cited Biden’s recent trip to Europe as evidence of his stamina, noting that someone half his age wouldn’t be able to keep up.
As an adviser to Biden and the campaign, Katzenberg recommended that the president embrace his age, countering skeptics who question his vigor and stamina. He emphasized that Biden’s age is his superpower and is working in his favor.
Katzenberg, who co-founded and manages WndrCo after his time at DreamWorks, has been actively involved in Biden’s fundraising events and offers advice beyond fundraising. He described their collaboration as a work in progress, emphasizing that they are still in the early days of the campaign.
