Major Democratic donor and Disney family heir Abigail Disney announced Thursday that she would halt donations unless President Joe Biden steps down from the presidential elections race.

"This is realism, not disrespect," Disney told CNBC, stating, "if Biden does not step down, the Democrats will lose. Of that I am absolutely certain. The consequences for the loss will be genuinely dire."

Disney added that Kamala Harris could be an alternative candidate against Republican candidate Donald Trump, suggesting that the current vice-president could win the election "if Democrats would tolerate any of her perceived shortcomings even one-tenth as much as they have tolerated Biden’s."

Several Democratic campaign funders have also raised concerns, resulting in Biden's campaign team recently scheduling two donor calls earlier this week.

The first call took place on Monday with hundreds of the campaign's major donors, where the campaign team reassured them by pledging that the current president would make more public appearances and take part in more interviews.

Tensions increased between Biden's campaign manager and their funders during a second donor call that was composed of only the top 40 donors, who raised the question of whether the campaign would offer a refund should Biden withdraw from the race, according to Reuters and the Associated Press.

Funders propose 'DEMbargo'

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Some donors have followed Disney's lead of ceasing funds unless Biden is replaced in the presidential race.

"When a country is not behaving how we want them to, we apply harsh economic sanctions. It’s a give and take – short-term hurt for long-term healing," screenwriter and significant contributor Damon Lindelof wrote in Deadline, proposing a "DEMbargo" on Wednesday.

Co-founder of Netflix and major donor, Reed Hastings, and his wife, Patty Quillin, joined their fellow funders in calling for Biden to step down from the presidential race. According to The New York Times, the couple has donated more than $20 million to the Democratic party, including $1.5 million for Biden’s 2020 presidential campaign.

"Virtually every major donor I’ve talked to believes that we need a new candidate in order to defeat Donald Trump," philanthropist Gideon Stein said to CNBC, withholding his planned $3 million donations.

House Democrats call on Biden to drop out of the race

Some elected Democrats who support President Joe Biden raised new concerns, on Tuesday, about his campaign for re-election in 2024, with one suggesting he should consider stepping down. This marks a change after many had previously defended him following his uncertain performance in last week's debate.

According to Democrats and political strategists, the decision whether Biden proceeds with his 2024 presidential bid, following his less-than-stellar debate against Republican candidate Donald Trump, largely rests with him.

Some donors are urging Biden to consider stepping down, and other Democrats are openly expressing concerns that he may not be capable of defeating Trump in November.

After the first debate, a Reuters/Ipsos poll revealed that one-third of Democrats believe Biden should halt his re-election campaign. US Representative Lloyd Doggett became the initial congressional Democrat to advocate for Biden's withdrawal from the presidential race on Tuesday. In an interview for NBC News, he expressed his wish for other Democratic legislators to join him in this stance.

Biden's challenges have extended beyond his immediate advisors, with some US officials accusing him of being complicit in the ongoing Israeli genocide in Gaza. This reflects growing criticism within political circles regarding US foreign policy and its implications for the ongoing war on Gaza.