Trump has reportedly lost one of his biggest 2016 financial backers
The reclusive Mercer family was one of President Trump's biggest and most influential backers in 2016, pouring at least $15.5 million into different organizations working to elect Trump, pumping another $10 million into Trump-friendly media company Breitbart News, and investing millions more into Cambridge Analytica, the now-disbanded Facebook-mining data firm Robert Mercer cofounded in 2013. Their influence was so great with Trump they installed Steven Bannon and Kellyanne Conway to run his campaign in its final months, Rebekah Mercer was a senior member of Trump's presidential transition team, and the family donated $1 million to Trump's inauguration fund.
The 2020 election cycle? "Crickets," a prominent Republican strategist tells Vanity Fair's Gabriel Sherman. "They're gone."
In fact, the Mercers have drastically cut back their political spending in recent months and don't plan on playing a significant role in 2020, Sherman reports, citing half a dozen sources. The reported reasons include disagreement with Trump's job performance and fallout from their support of Trump and Bannon — their cherished privacy was eroded, Robert Mercer was pushed out as co-CEO of hedge fund Renaissance Technologies in November 2017, they were "spooked" by the FBI's investigation of Cambridge Analytica, and generally, "they've been destroyed," a former West Wing official told Vanity Fair.
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.
Plus, the Mercers essentially got what they wanted out of Trump's victory, and it wasn't necessarily President Trump. "They never really liked Trump," a source close to the Mercers told Sherman. They were supporters of Sen. Ted Cruz (R-Texas) and they only came around to Trump when he was the last option against Hillary Clinton. "Trump was just Bob's play against Hillary," a former Renaissance executive told Sherman. "Bob said she and her husband were murderers who would destroy the country. He thought she was an evil person and a socialist." The Mercers did not respond to Vanity Fair's request for comment.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Magazine interactive crossword - May 3, 2024
Puzzles and Quizzes Issue - May 3, 2024
By The Week US Published
-
Magazine solutions - May 3, 2024
Puzzles and Quizzes Issue - May 3, 2024
By The Week US Published
-
Magazine printables - May 3, 2024
Puzzles and Quizzes Issue - May 3, 2024
By The Week US Published
-
Ukraine cheers House approval of military aid
Speed Read Following a lengthy struggle, the House has approved $95 billion in aid for Ukraine and Israel
By Peter Weber, The Week US Published
-
Poland, Germany nab alleged anti-Ukraine spies
Speed Read A man was arrested over a supposed Russian plot to kill Ukrainian President Zelenskyy
By Peter Weber, The Week US Published
-
Israel hits Iran with retaliatory airstrike
Speed Read The attack comes after Iran's drone and missile barrage last weekend
By Peter Weber, The Week US Published
-
Peter Murrell: Sturgeon's husband charged over SNP 'embezzlement' claims
Speed Read SNP expresses 'shock' as former chief executive rearrested in long-running investigation into claims of mishandled campaign funds
By Arion McNicoll, The Week UK Published
-
Mark Menzies: Tories investigate MP after 'bad people' cash claims
Speed Read Fylde MP will sit as an independent while party looks into allegations he misused campaign funds on medical expenses and blackmail pay-out
By Arion McNicoll, The Week UK Published
-
Why Johnson won't just pass Ukraine aid
Speed Read The House Speaker could have sent $60 billion in military aid to Ukraine — but it would have split his caucus
By Peter Weber, The Week US Published
-
Sudan on brink of collapse after a year of war
Speed Read 18 million people face famine as the country continues its bloody downward spiral
By Peter Weber, The Week US Published
-
Trump's first criminal trial starts with jury picks
Speed Read The former president faces charges related to hush money payments made to adult film star Stormy Daniels
By Peter Weber, The Week US Published