A billionaire hedge fund manager and former major GOP donor is tearing into Republicans, saying he is planning to use money from the GOP tax cuts to elect Democrats.
“I received a tax cut I neither need nor want,” Seth Klarman told The Boston Globe.
“I’m choosing to invest it to fight the administration’s flawed policies and to elect Democrats to the Senate and House of Representatives.”
Klarman said Republicans in Congress have failed to hold President TrumpDonald John TrumpPoll: Less than half of Americans think their taxes are too high Comey pulls no punches with Trump Incoming Pence adviser withdraws nomination following reports Trump opposed candidacy MORE accountable. He added that GOP lawmakers have “abandoned their historic beliefs and values.”
“For the good of the country, the Democrats must take back one or both houses of Congress,” he said.
According to the Globe, Klarman has given about $222,000 to 78 Democrats running for Congress since the 2016 election.
He has also given money to several nonprofits advocating for issues such as gun control and protecting the environment.
Klarman, the CEO of Boston’s Baupost Group, a hedge fund with $30 billion in assets, is a registered independent, according to the Globe.
During the Obama administration, he donated more than $7 million to Republican candidates and political committees.
Last year, Klarman ripped Trump at an investment conference, calling him a “threat to democracy.” During the 2016 presidential election, he pledged to support Clinton and called Trump “shockingly unacceptable,” according to Reuters.