Billionaire Mark Cuban said Democrats should consider a replacement for President Joe Biden after his poor debate performance—but megadonor Reid Hoffman called pushing Biden to drop out a “bad idea.”
Topline
President Joe Biden’s shaky performance in CNN’s presidential debate Thursday night sparked an outcry of concern from Democratic pundits and some donors, and at least one billionaire who has shown support for Biden is now questioning whether another Democrat should take his place to challenge former President Donald Trump.Key Facts
Billionaire investor, Dallas Mavericks minority owner and “Shark Tank” host Mark Cuban (worth $5.4 billion according to Forbes’ estimates), a Biden supporter who attended a Biden fundraising event in March, told CNN Saturday he wants to see polling to “find out if there are any potential replacements” who could outperform Trump in a hypothetical matchup.
Cuban, who previously supported former South Carolina GOP Gov. Nikki Haley in the GOP primary, told the outlet it’s “worth considering” a replacement for Biden to “step in and immediately change the race.”
In a post on X Friday morning, Cuban added Biden’s “performance was awful” and the 81-year-old appeared “feeble,” though he also argued Trump “couldn’t directly answer a single question and lied with every response,” adding: “I’ll vote ethical every time.”
Reid Hoffman ($2.5 billion)—one of the biggest pro-Biden donors—urged supporters to stay the course, calling it a “bad idea” to push Biden to step down and arguing it could backfire if Biden decides to “prove the doubters wrong,” according to an email obtained The New York Times that lauded Biden’s “values, instincts, patriotism and courage” and said Biden could still win (Hoffman has donated $17.7 million to support Biden).
Meanwhile, Avram Glazer ($1.7 billion), the billionaire part-owner of the NFL’s Tampa Bay Buccaneers, also hasn’t shied away from reportedly hosting a campaign fundraiser for Biden at his home in East Hampton, New York, on Saturday.
Laurene Powell Jobs (worth $14.5 billion along with her family) was part of a group of Silicon Valley supporters who privately expressed alarm about Biden’s debate performance, according to the Times, though she hasn’t spoken publicly.
