Democratic main donors wish to decelerate Harris' nomination, however no challengers

US philanthropist Michael Bloomberg speaks at the Earthshot Prize Innovation Camp on June 27, 2024 in London, England.

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Some of the Democratic Party's top donors are urging the party to slow Vice President Kamala Harris' push for the nomination, arguing for a more “open” and inclusive process that would allow delegates to evaluate multiple potential candidates. The problem is that there are no serious contenders.

As of late Monday, there appeared to be no potentially serious challenger for the Democratic nomination who had not already endorsed Harris.

Billionaire and longtime donor Mike Bloomberg said in a statement on Monday: “The decision is too important to rush because the election is too important to lose.” He explicitly did not support Harris. Bloomberg's net worth is over $100 billion, according to Forbes.

“The Democratic delegates must select a winner from the swing states,” Reed Hastings, Netflix chief executive and longtime Democratic donor, said in a social media post on Sunday, shortly after Biden dropped out of the race.

But the idea that there should be a challenger to Harris to give Democrats options, while popular among some Democratic donors, has so far found no support among the up-and-coming Democratic politicians who would be expected to actually take on the challenge.

On the contrary, Democratic governors, senators and members of the House of Representatives are lining up to support Harris rather than waiting for alternatives to emerge.

The Democrats' refusal to listen to the demands of donors seeking to slow down the nomination process stands in sharp contrast to the way many donors successfully lobbied lawmakers to urge Biden to drop out of the race.

Despite some major donors pushing for a pause in the process, the Democratic Party was moving full steam ahead on Monday to send its new frontrunner to the polls.

So far, no Democrat has expressed any intention of launching a counter-campaign against Harris as she continues to garner and soar in her party's support.

In the hours after Biden dropped out of the race and endorsed Harris, most of her campaign's potential challengers did not support throwing her hat in the ring, but rather the vice president.

These include California Governor Gavin Newsom, North Carolina Governor Roy Cooper, Transportation Secretary Pete Buttigieg, Pennsylvania Governor Josh Shapiro, Kentucky Governor Andy Beshear, Illinois Governor JB Pritzker, and Michigan Governor Gretchen Whitmer – all of whom are now contenders for Harris's running mate.

U.S. Vice President Kamala Harris speaks during an NCAA championship celebration on the South Lawn of the White House on July 22, 2024 in Washington, DC. USA

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Harris also secured the support of leading Democrats on Capitol Hill on Monday, including one of Biden's closest allies, former House Speaker Nancy Pelosi (D-California).

Pelosi's support is an important signal that Democrats are rallying behind the vice president just under a week before August 1, the day on which the Democratic National Committee could begin the virtual roll call to nominate the party's candidate.

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