Top Clinton donor Katzenberg takes financial hit

DreamWorks Animation CEO Jeffrey Katzenberg, a major supporter of Democratic presidential frontrunner Hillary Clinton, took a significant financial hit in 2014.

Katzenberg’s net earnings from DreamWorks dropped by more than half last year, according to The Hollywood Reporter, from $13.5 million to $6.4 million.  

{mosads}A precipitous fall in DreamWorks stock is mostly responsible for Katzenberg’s pay cut.

Hollywood Reporter wrote that the studio took losses on several of its most recent films, including “Turbo” and “Mr. Peabody and Sherman.” A more recent film, “Home,” is performing better at the box office.

Katzenberg began stoking the fires for Clinton’s latest Oval Office bid as far back as 2013. The CEO hosted Clinton alongside famed director Steven Spielberg during a Nov. 8 gala that year in Los Angeles.

The Hollywood mega-producer has kept his network of donors “ready for Hillary” ever since. Katzenberg began fundraising calls to possible contributors on Nov. 6, 2014, hoping to secure early campaign commitments for Clinton’s eventual candidacy.

This strategy mirrors cash calls Katzenberg made that helped President Obama secure reelection in 2012. During that cycle, he also raised $15 million for the president during a fundraiser at actor George Clooney’s house in Los Angeles.

Katzenberg still has plenty of connections to help Clinton and other Democrats fundraise in Hollywood, of course, and the Hollywood Reporter noted that his $2.5 million base salary is unchanged.

Katzenberg helped found DreamWorks in Glendale in 1994. The studio has since released a slew of animated hits including “Shrek,” “Kung Fu Panda” and “How to Train Your Dragon.”