Robert Mercer leaving his hedge fund, selling stake in Breitbart

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Rebekah Mercer
Republican
political strategists Nick Ayers and Kellyanne Conway with
Rebekah Mercer at Trump Tower in 2016.

Drew Angerer/Getty Images

  • Major Republican donor Robert Mercer is stepping down
    as co-CEO of the hedge fund Renaissance Technologies.
  • Mercer can also be promoting his stake in Breitbart
    News.
  • In a letter to workers, he sought to distance himself
    from polarizing figures like Steve Bannon and Milo
    Yiannopoulous.

Hedge-fund billionaire and main conservative donor Robert Mercer
is stepping down from his place as co-CEO of Renaissance
Technologies, he stated Thursday.

In a letter to workers obtained by Business Insider, Mercer
stated he had change into an object of press scrutiny prior to now 12 months,
referencing his exercise as a significant conservative donor. The
hedge-fund founder had beforehand stayed
mum
about his political views.

“During the previous 12 months, I’ve been the article of an excessive amount of
scrutiny from the press,” he wrote. “I’ve declined to remark
on what has been written about me, imagining that with time the
consideration would dissipate. Because that has but to occur, I’ve
determined to right a number of the misinformation that has been
revealed about me. It just isn’t my intention to impose the views I
describe beneath on anybody else.”

In addition to leaving his place at Rentech, Mercer introduced
within the letter that he may even promote his stake within the far-right
information web site Breitbart News to his daughters — together with Rebekah
Mercer, a significant Republican donor who served on the chief
committee of US President Donald Trump’s transition staff.

Mercer didn’t give a cause for his departure.

But within the letter, he sought to distance himself from some
polarizing figures with whom he has change into related, together with
former White House chief strategist Steve Bannon, who now once more
heads Breitbart, and the right-wing provocateur Milo
Yiannopoulous, who has confronted criticism
since a
BuzzFeed
expose
 outlined the
on-line ecosystem 
exhibiting his hyperlinks with white
nationalists. 

“The press has additionally intimated that my politics marches in
lockstep with Steve Bannon’s. I’ve nice respect for Mr.
Bannon, and infrequently I do focus on politics with him.
However, I make my very own selections with respect to whom I badist
politically. Those selections don’t all the time align with Mr.
Bannon’s,” he stated.

Of Yiannopoulos, he stated: “I supported Milo Yiannopoulos within the
hope and expectation that his expression of views opposite to the
social mainstream and his spotlighting of the hypocrisy of these
who would shut down free speech within the title of political
correctness would promote the kind of open debate and freedom of
thought that’s being throttled on many American school campuses
as we speak. But for my part, actions of and statements by Mr.
Yiannopoulos have prompted ache and divisiveness undermining the
open and productive discourse that I had hoped to facilitate. I
was mistaken to have supported him, and for a number of weeks have
been within the strategy of severing all ties with him.”

Mercer stated he would step down as co-CEO and from the hedge
fund’s board. He stated he would proceed to contribute to the
badysis aspect of the agency. Mercer has additionally been a major
monetary backer of Cambridge Analytica, the data-badytics agency
that labored with the Trump marketing campaign and has come beneath scrutiny in
investigations into Russian election meddling
.

Read the total letter:

“During the previous 12 months, I’ve been the article of an excessive amount of
scrutiny from the press. I’ve declined to touch upon what has
been written about me, imagining that with time the eye
would dissipate. Because that has but to occur, I’ve determined
to right a number of the misinformation that has been revealed
about me. It just isn’t my intention to impose the views I describe
beneath on anybody else.

“My objective is solely to elucidate my considering, the very essence of
which is that each one of us ought to suppose for ourselves.

“I consider that people are happiest and most fulfilled when
they kind their very own opinions, badume accountability for their very own
actions, and spend the fruits of their very own labor as they see match.
I consider badortment of people making their very own
selections inside the confines of a transparent and concise set of legal guidelines
that they’ve decided for themselves will advance society
rather more successfully than will a group of specialists who’re
badured of their data of what’s greatest for everybody else.
This is why I badist conservatives, who favor a smaller, much less
highly effective authorities.

“A society based on the idea of the person freedom that
thrives beneath a restricted federal authorities has no place for
discrimination. Of the numerous mischaracterizations product of me by
the press, essentially the most repugnant to me have been the intimations
that I’m a white supremacist or a member of another noxious
group.

“Discrimination on the idea of race, ethnicity, gender, creed,
or something of that kind is abhorrent to me. But greater than that,
it’s ignorant.

“The press has additionally intimated that my politics marches in
lockstep with Steve Bannon’s. I’ve nice respect for Mr.
Bannon, and infrequently I do focus on politics with him.
However, I make my very own selections with respect to whom I badist
politically. Those selections don’t all the time align with Mr.
Bannon’s.

“Without people considering for themselves, society as an entire
will battle to tell apart the sign of reality from the
correlated noise of conformity. I supported Milo Yiannopoulos in
the hope and expectation that his expression of views opposite to
the social mainstream and his spotlighting of the hypocrisy of
those that would shut down free speech within the title of political
correctness would promote the kind of open debate and freedom of
thought that’s being throttled on many American school campuses
as we speak. But for my part, actions of and statements by Mr.
Yiannopoulos have prompted ache and divisiveness undermining the
open and productive discourse that I had hoped to facilitate. I
was mistaken to have supported him, and for a number of weeks have
been within the strategy of severing all ties with him.

“For private causes, I’ve additionally determined to promote my stake in
Breitbart News to my daughters.

“I’d additionally like to tell you of a choice I’ve reached
with respect to my position at Renaissance, a corporation I like
with colleagues whom I deeply respect and admire. I’m 71 years
outdated, the identical age that Jim Simons was when he retired. I don’t
plan to retire, however I do plan to relinquish my administration
duties.

“Peter Brown and I’ve been Co-CEOs for the previous eight years. On
January 1, 2018, I’ll step down from my place as Co-CEO and
resign from the board of administrators. I’ll proceed with the agency
as a member of its technical employees, specializing in the badysis work
that I discover most fulfilling. Peter will proceed on as CEO, and I
will present him with my counsel each time he feels that I may be
useful to him and to the corporate the place I’ve spent so many
great years.”

Rachael Levy contributed reporting.

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