On Thursday, billionaire hedge fund investor and conservative donor Robert Mercer resigned from his position as co-CEO of Renaissance Technologies. He also announced that he had sold his shares in Breitbart, the Stephen Bannon-led media outlet, to his daughters for "personal reasons," a letter obtained by Bloomberg's Joshua Green reveals.
Mercer was the third biggest donor to conservative outside spending groups in the 2016 election cycle. In his resignation letter from Renaissance, he wrote: "I have great respect for Mr. Bannon, and from time to time I do discuss politics with him. However, I make my own decisions with respect to whom I support politically. Those decisions do not always align with Mr. Bannon's." As Green reported in his book The Devil's Bargain, the elder Mercer gave Breitbart $10 million of capital in 2012 and his daughter, Rebekah, was instrumental in bringing Bannon and Kellyanne Conway into President Trump's election campaign.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
5 biting editorial cartoons about 'Alligator Alcatraz'Cartoons Artists take on dangerous green things, historical precedent, and more
-
A journey into the deep past on beautiful ArranThe Week Recommends New Unesco Global Geopark played a 'key role' in the birth of modern geological science
-
China's London super-embassyThe Explainer The People's Republic wants to build a massive new embassy in central London, and a lot of people aren't happy about it
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
