Billionaire Stephen Cloobeck has severed ties with Eric Swalwell and declared his shift to libertarianism, expressing his frustration with the Democratic Party. The decision came just before Swalwell withdrew from the California governor's race.
Cloobeck, in an exclusive interview with The Post, stated, “I am no longer supporting Eric. Tell everyone I’m a libertarian. Screw you, Democrat Party. I’m a libertarian now.”
The rift between Cloobeck, a timeshare mogul, and Swalwell, the Bay Area congressman, intensified following public allegations of sexual misconduct against Swalwell. These accusations led to a significant loss of endorsements for Swalwell, potential expulsion from Congress, and a criminal investigation.
Having invested over $1 million in Swalwell's campaign, Cloobeck confirmed that Swalwell was no longer residing in his Beverly Hills mansion. Cloobeck also mentioned a need to consult his attorney regarding the possibility of reclaiming the funds he contributed to an independent committee supporting Swalwell.
Despite previously referring to Swalwell as his “little brother,” Cloobeck has distanced himself from the congressman due to the controversy surrounding him. Cloobeck, a long-time Democrat, expressed uncertainty about the outcome of the allegations but emphasized his decision to disassociate himself from Swalwell.
In addition to accommodating Swalwell at his mansion and providing financial support, Cloobeck criticized fellow billionaire Tom Steyer for excessive spending in the gubernatorial race. Cloobeck expressed disillusionment with the Democratic Party, declaring his intention to change his party affiliation.
“I’m going to change my party affiliation because I cannot stand this Democratic Party at all. I am done. Finito,” Cloobeck concluded.
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