A veteran journalist covering the federal government just released a bombshell report offering an inside glimpse into the mysterious billionaire who bought the election for President Donald Trump.
His name is Robert Mercer and he is a right-wing radical who has made billions in the financial technology industry. He’s poured enormous sums of money into Republican politics. Most Americans don’t even know his name but some say he was more responsible than anyone else for helping Trump steal the election.
A new investigative report published by the New Yorker is casting new light on Mercer, who has remained a behind-the-scenes figure, despite his heavy influence over the president. Since Mercer has done so many favors for Trump, one observer speculated that “Robert Mercer now owns a sizeable share of the United States Presidency,” suggesting the president is now taking orders from Mercer.
Mercer is the co-C.E.O. of Renaissance Technologies, which is among the most profitable hedge funds in the country. A brilliant computer scientist, he helped transform the financial industry through the innovative use of trading algorithms. But he has never given an interview explaining his political views.
Although Mercer has recently become an object of media speculation, Trevor Potter, the president of the Campaign Legal Center, a nonpartisan watchdog group, who formerly served as the chairman of the Federal Election Commission, said, “I have no idea what his political views are—they’re unknown, not just to the public but also to most people who’ve been active in politics for the past thirty years.”
Potter, a Republican, sees Mercer as emblematic of a major shift in American politics that has occurred since 2010, when the Supreme Court made a controversial ruling in Citizens United v. Federal Election Commission. That ruling, and several subsequent ones, removed virtually all limits on how much money corporations and nonprofit groups can spend on federal elections, and how much individuals can give to political-action committees.
Since then, power has tilted away from the two main political parties and toward a tiny group of rich mega-donors.
The new story reveals brand new details about Mercer that have not been reported before. It was published by Jane Meyer, a leading reporter covering the federal government and national politics.
Meyer’s story details the way billionaires like Mercer have been increasingly able to influence elections and control politicians.
Read more, from the New Yorker:
Private money has long played a big role in American elections. When there were limits on how much a single donor could give, however, it was much harder for an individual to have a decisive impact. Now, Potter said, “a single billionaire can write an eight-figure check and put not just their thumb but their whole hand on the scale—and we often have no idea who they are.” He continued, “Suddenly, a random billionaire can change politics and public policy—to sweep everything else off the table—even if they don’t speak publicly, and even if there’s almost no public awareness of his or her views.”
Mercer is calling the shots in the White House and most Americans don’t even know his name!
It’s obvious that system is broken when things like this are allowed to happen.