NEW: Biden Campaign Chair Flips, Is Now Rooting For Trump

Jeffrey Katzenberg, a prominent Hollywood executive and co-chair of President Joe Biden’s 2024 reelection campaign, made waves when he acknowledged he is now rooting for the incoming Trump administration to succeed. Katzenberg’s comments came during a panel discussion at Fortune’s Brainstorm AI conference in San Francisco, where he reflected on the state of politics following Biden’s defeat.

When asked about his experience as a co-chair for the Biden campaign and his observations on Silicon Valley’s role in artificial intelligence, Katzenberg offered a blunt assessment. “Not that much,” he joked. He then pivoted to a striking admission regarding the Trump administration.

“They won. We lost. Their bat, their ball, and I’m rooting for them to play great. Seriously. This is the way I’ve been doing this for 50 years,” Katzenberg said. “I’ve been on the winning team, and I’ve been on the losing team. I am rooting for their success in every single respect. I hope the changes that they bring make us a better, stronger, more successful country.”

“I hope the changes that they bring make us a better, stronger, more successful country,” he reiterated, striking an optimistic tone.

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Katzenberg is a prominent film producer and media executive known for his transformative impact on Hollywood, particularly in animation. He began his career at Paramount Pictures before joining The Walt Disney Company in 1984. There, he spearheaded the Disney Renaissance and oversaw classics like The Little Mermaid and The Lion King.

In 1994, Katzenberg co-founded DreamWorks SKG with Steven Spielberg and David Geffen, producing hits such as Shrek and Kung Fu Panda.  DreamWorks Animation became a major player in family entertainment before its 2016 sale to NBCUniversal. Katzenberg later co-founded Quibi, a short-form streaming platform that ultimately shut down in 2020 due to poor reception.

The Hollywood mogul has been vocal in his opposition to Trump over the years, especially through his significant support for Democratic candidates and causes. Katzenberg, a major Democratic donor, actively supported candidates who directly challenged Trump’s policies and leadership.

Katzenberg’s comments come amid ongoing debates in Washington and beyond about the nation’s technological future and the role of artificial intelligence in shaping the economy. The conference, which featured a mix of political, business, and tech leaders, highlighted concerns about regulatory frameworks and the ethical implications of rapid advancements in AI.

Jeffrey Katzenberg at the 2010 Tribeca Film Festival premiere of w:Shrek Forever After

“I’ve known Donald Trump for 50 years,” Katzenberg said back in May. “The only thing I can say is he was a colossal asshole then and nothing has really changed.”

“I’ve known Joe Biden for 40 years, maybe 45 years,” he added. “He is actually one of the most decent human beings I know.”

As a co-chair of Biden’s re-election campaign, Katzenberg was instrumental in fundraising efforts. However, following Biden’s challenging debate performance in June, Katzenberg informed the president that donor contributions were waning due to concerns about Biden’s age and campaign viability.

Despite these challenges, Katzenberg remained committed to preventing a second Trump term. After Biden announced his decision to step aside from the 2024 race, Katzenberg described the moment as “bittersweet,” emphasizing that “the only thing that mattered was ensuring that Donald Trump never again set foot in the White House.”

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