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Biden Challenger Gets $1M Backing From Billionaire Bill Ackman, Says DNC Will “Have To Choose” Him Over Biden

Billionaire investor Bill Ackman has announced plans to donate a staggering $1 million to a political action committee supporting Rep. Dean Phillips, who is mounting a primary challenge against President Biden.

This significant investment underscores growing support for Phillips and suggests a shifting landscape within the Democratic Party.

Ackman’s Pledge and Endorsement

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In a detailed post on X (formerly Twitter), Ackman expressed his confidence in Dean Phillips, describing him as a candidate capable of being “a truly outstanding President of the United States.”

Belief in Phillip’s Potential

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“On Tuesday, I am wiring $1 million to wedeserve.org, a political action committee that supports Dean’s run. This is by far the largest investment I have ever made in someone running for office, and I am making this investment at a high-risk, but critically important moment for his campaign,” Ackman wrote.

Phillips’s Primary Challenge

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Despite trailing significantly behind President Biden in polls, Dean Phillips remains undeterred in his pursuit of the Democratic nomination.

The Democratic primary polling average provided by RealClearPolitics shows that Biden is leading the field with almost 70% of the vote, followed by writer Marianne Williamson with almost 8% and Phillips with roughly 3%.

Uphill Task

Credits: Depositphotos – NEW YORK, USA – Sep 29, 2015: US Vice President Joe Biden during a meeting with President of Ukraine Petro Poroshenko in New York — Photo by palinchak

Phillips’s campaign faces an uphill battle as he seeks to gain traction against the incumbent president and other primary contenders, including author Marianne Williamson.

Assessment of Biden’s Standing

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Ackman offered a critical assessment of President Biden’s prospects in the primary race, suggesting that his support may wane over time.

He wrote, “As Dean rises in the polls and Biden deteriorates, the Democratic party is going to have to choose a candidate that can beat the Republican nominee.”

Democrats Need a Trump Challenger

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Ackman continued, “If by then, as I expect, Dean is polling substantially better than Biden against Trump, I predict that the party will choose Dean Phillips over Biden,” he wrote. “The party will have no choice.”

Strategy for Phillips’s Success

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Highlighting a potential pathway for Phillips’s success, Ackman pointed to the importance of performing well in key primary states like New Hampshire.

He suggested that as Phillips gains momentum and Biden’s support declines, the Democratic Party may gravitate towards Phillips as a viable alternative.

Challenges in the Primary Race

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One significant obstacle for Phillips is Biden’s absence from the primary ballot in certain states, including New Hampshire, due to the Democratic National Committee’s decision not to recognize the primary this year.

Despite this, Phillips faces the challenge of building momentum and support within the party.

Support for Phillips’s Candidacy

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Ackman’s endorsement of Phillips is not a new development, as he had previously expressed admiration for the congressman’s leadership qualities.

Ackman’s decision to back Phillips reflects a broader sentiment within certain Democratic circles that it may be time for new leadership to emerge within the party.

Call for Biden to Step Aside

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In past interviews, Ackman has been vocal about his belief that President Biden should step aside in the primary race to allow for new contenders to emerge.

Citing concerns about Biden’s legacy and the need for competitive alternatives, Ackman’s stance underscores ongoing debates within the Democratic Party about its future direction.

Assessment of Biden’s Legacy

Credits: Depositphotos – (NEW) President of the United States Joe Biden delivers remarks on a possible default of the debt in a speech at Westchester Community College in Valhalla, New York. May 10, 2023. — Photo by thenews2.com

Despite acknowledging Biden’s accomplishments, Ackman expressed doubts about the potential legacy of his candidacy if he were to secure the nomination.

He emphasized the importance of fostering competition and creating opportunities for fresh voices within the party.

Implications for Democratic Nomination

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As the primary race unfolds, Ackman’s endorsement of Phillips adds a significant dimension to the competition within the Democratic Party.

With growing support for Phillips and increasing scrutiny of Biden’s candidacy, the party faces critical decisions about its future direction and leadership.

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