Few people wield the kind of influence and strategic acumen that Jeffrey Katzenberg is apparently bringing to Joe Biden’s 2024 re-election campaign. The Hollywood mogul, known for his tenure at Disney and co-founding DreamWorks, plays a role extending far beyond the typical duties of a political fundraiser to galvanize support for President Biden during one of the most contentious elections in recent U.S. history.
Following many years of directing the narrative that Americans see on television, Katzenberg now devotes all of his time, along with a portion of his wealth, to influencing politics in Los Angeles, California, and the United States. According to insiders, Katzenberg has assumed the most prominent political position of his career as Biden’s sole campaign co-chair who is not in public service.
One such instance is the organization of the prominent Biden fundraiser that took place on Saturday at the Peacock Theater in downtown Los Angeles. The event featured George Clooney and Julia Roberts in addition to a discussion between the president and former President Obama that was mediated by Jimmy Kimmel, the late-night TV host.
In the past, Katzenberg also contributed to Democratic candidates in California, pushing Karen Bass to run for mayor with $1.85 million to assist in her election, and throwing $1 million into the endeavor to remove former Sheriff Alex Villanueva. As a result, he became the largest individual donor in the 2022 Los Angeles city and county elections, independent of any candidates. He had already donated $500,000 to Gov. Gavin Newsom’s campaign against a recall effort the previous year.
The 73-year-old Katzenberg was raised in New York City as the son of an artist and a stockbroker. At fourteen years old, he made his political debut as a volunteer for Republican John Lindsay’s 1965 mayoral campaign, which was supported by the Liberal Party of New York. In the 1970s, he relocated to Hollywood, and in 1984, he was appointed chairman of Walt Disney Studios.
In 1994, Katzenberg reportedly had disagreements with CEO Michael Eisner and Walt Disney’s nephew Roy Disney, which led to his departure from Disney. He filed a breach of contract lawsuit against the Disney Co. and was awarded a secret settlement worth between $250 million and $275 million.
In the same year, Katzenberg, Spielberg and David Geffen created DreamWorks SKG – which was later bought by Comcast in 2016 for a sum of $3.8 billion – and $390 million personally to get Katzenberg out of the firm.
According to an analysis by the nonpartisan organization Open Secrets, which keeps tabs on election funding, Katzenberg and his spouse, Marilyn, have contributed more than $30 million to politicians, state parties, and charities since 1989, including a super PAC to aid Obama’s 2012 reelection campaign.
It’s not quite as much as the late Republican Sheldon Adelson or Democrat George Soros have contributed to their preferred political causes. But Katzenberg’s ability to get huge gifts from powerful people and advise them on whom to support makes him especially sought after.
The Los Angeles Times was informed by multiple sources that he has established himself as a regular visitor to the White House, frequently speaking by phone, text, and in person with the president and his closest advisors.
