President Biden Gears Up for Hollywood Fundraiser Amidst Industry Strike Fallout
In a strategic move to revitalize fundraising efforts within the entertainment industry, President Joe Biden is set to visit Los Angeles next week for a high-profile event, marking his first since strikes by writers and actors significantly impacted fundraising activities. Historically, Hollywood has been a key financial supporter for the Democratic Party.
Scheduled for next Friday at the residence of celebrity interior designer Michael Smith and his partner James Costos, a former HBO executive and Ambassador to Spain under President Barack Obama, the event is anticipated to generate millions in contributions and attract a star-studded audience. Renowned rocker Lenny Kravitz is slated to perform.
Esteemed hosts for the event include director Steven Spielberg and his wife, Kate Capshaw, along with recording industry mogul David Geffen, “Scandal” showrunner Shonda Rhimes, “This is Spinal Tap” director Rob Reiner, and former House Speaker Nancy Pelosi. Barbra Streisand is also expected to attend, according to an invitation obtained by The Associated Press.
Reflecting on the event, co-host Michael Smith expressed gratitude for the overwhelming enthusiasm, stating, “We don’t do many events, but when we do, we do it out of great passion.”
This fundraising initiative is part of a broader campaign by President Biden as he seeks to accumulate resources for what is anticipated to be a challenging rematch against Republican Donald Trump. Additional fundraisers are planned in Boston, featuring a concert by James Taylor, as well as events in Washington, Maryland (with Gov. Wes Moore), and Philadelphia (alongside Gov. Josh Shapiro), according to insiders familiar with the schedule.
The Los Angeles fundraiser, with contributions expected to reach into the millions, could address concerns among Democrats about Biden’s reelection prospects. As of the last fundraising reporting deadline in September, Biden and the Democratic Party reported $91 million in cash on hand. Benefiting from a joint fundraising agreement with the Democratic National Committee and state parties, Biden can receive substantial donations, some as large as $1 million from a single donor.
In typical Hollywood fashion, there’s a touch of intrigue and drama surrounding the event. Jeffrey Katzenberg, co-founder of DreamWorks Pictures and co-chairman of Biden’s campaign, traditionally played a pivotal role in determining who hosts premier fundraising events in Los Angeles. Reports indicate that Katzenberg will host his own fundraising gathering during Biden’s visit, potentially reshuffling the Hollywood pecking order if he is outshined.
Notably, during the 2020 Democratic primary campaign, Smith and Costos hosted Biden’s first major fundraiser in the region, raising over $1 million. Katzenberg, at the time, was involved in planning events for another Democratic candidate, Pete Buttigieg, who currently serves as Biden’s transportation secretary. The Hollywood dynamics and power play among donors continue to evolve, with former business partners Geffen and Spielberg attending the Smith and Costos event.