Venture capitalist and Democratic megadonor Ron Conway has spoken directly with former House Speaker Nancy Pelosi about President Joe Biden’s poor debate performance, according to three people familiar with the matter.
Conway told Pelosi that the president’s performance increased former President Donald Trump’s chances of winning in November, these people said.
Conway is the founder and managing partner of venture capital firm SV Angel. So far, he and his wife have donated more than $5 million to help Democratic elections.
Conway is talking to more than just Pelosi.
An ally of Conway’s in the tech community told CNBC that the investor is among a group of donors and party leaders “determined to ignite Biden’s ouster.”
The meeting with Pelosi was Pelosi’s preparation Wednesday These people explained that she declined to explicitly endorse Biden in the MSNBC interview.
Representatives for Pelosi and Conway have not denied that the California Democrat and unofficial chair of the House Democratic Caucus spoke with Conway about Biden.
Pelosi’s spokesperson told CNBC: “After the debate, the speaker’s phone started ringing with a variety of views expressed.”
Conway’s spokesman said: “Like many others, Ron has had numerous conversations with Democratic leaders and other major donors since the debate about the best path to victory. He will not comment on those private conversations.” .
real political clarity vote average As of Friday, Trump led Biden by about 2 percentage points.
It’s unclear what Pelosi said to Conway or whether the two have spoken since Biden’s press conference on Thursday.
Biden’s comments touched on foreign policy, as he called Vice President Kamala Harris “Trump’s Vice President” and said he would consider dropping out of the race only if polling data showed it was “impossible” for him to win.
Still, it’s a slight departure from Biden’s remarks to ABC News’ George Stephanopoulos last week, in which he said only “God Almighty” could convince him to drop out of the race.
Conway represents an important voice in California Democratic Party fundraising and the Silicon Valley tech community.
Conway was one of Biden’s bundlers during the 2020 campaign, raising at least $100,000 for his campaign against Trump, according to OpenSecrets.
Conway donated at least $600,000 in 2023 to Future Forward, a pro-Biden political action committee. Throughout the 2024 election cycle, he donated more than $400,000 to the Biden Victory Fund, according to Federal Election Commission records.
Conway and Pelosi, both powerful figures in California who go their own ways, have remained close for years. Conway holds fundraiser for House Democrats, and photo exhibit Pelosi attended.
According to OpenSecrets, Conway donated more than $200,000 to the Nancy Pelosi Victory Fund during the 2022 congressional midterm elections.
Conway is not the only major Democratic donor to attack Biden in the past three weeks.
Stewart Bainum Jr., chairman of Choice Hotels and a six-figure donor to Biden, told CNBC after the debate that he believed the president should step down. He also said he would not help the president until after the Democratic National Convention in Chicago in August because he did not believe Biden would be the nominee.
Democratic donor Abigail Disney, heiress to the Disney family fortune, said on July 4 that she would not fund the party until Biden exits.
“I intend to stop donating to the party unless they replace Biden as leader. This is realism, not disrespect,” Disney said at the time.
About The Author
