Bill Ackman, who has mainly supported the Democratic party, expressed disappointment in the Democrats following the rise of anti-Semitism on Ivy League campuses and DEI efforts, so he’s donating $1M to Biden challenger Dean Phillips.
Ackman shared the news on X
The billionaire wrote, “I am wiring $1 million to wedeserve.org, a political action committee that supports Dean’s run. This is by far the largest investment I have ever made in someone running for office, and I am making this investment at a high-risk but critically important moment for his campaign.”
No choice
He continued, “As Dean rises in the polls and Biden deteriorates, the Democratic party is going to have to choose a candidate that can beat the Republican nominee. If by then, as I expect, Dean is polling substantially better than Biden against Trump, I predict that the party will choose Dean Phillips over Biden,” and added, “The party will have no choice.”
Megadonor is disappointed with the Democrats
Ackman told CBS, “I was a Bill Clinton Democrat, and what the party has morphed into is not something I want to be associated with.” The hedge fund manager criticized the rise of anti-Semitism and DEI efforts and plans to “go after these issues in a very aggressive way.” After announcing the $1 million donation to Philips, the long-shot candidate quietly removed the phrase “diversity, equity, and inclusion” from his campaign website.
Making “think-and-do tank”
The hedge fund manager told Andrew Ross Sorkin about the organization, which he dubbed a “think-and-do tank.” He stated, “It’s going to be an activist, and we’re going to study these issues, and we’re going to come up with solutions to problems, and we’re going to implement.”
Going after Biden
The Democratic donor said in an interview in November with Bloomberg Television’s “The David Rubenstein Show: Peer-to-Peer Conversations” that “Biden’s done a lot of good things.” However, he added, “his legacy will not [be] a good one if he is the nominee.”
Time for someone younger
In the same interview, Ackman shared, “I do think the right thing for Biden to do is step aside and to say he’s not going to run and create the opportunity for some competition.” The billionaire further noted that Biden is “clearly past his physical and cognitive peak.”
New issues
The long-term Democratic donor also signaled he’s “more open to Republican candidates” like Nikki Haley or Chris Christie. (Christie has since dropped out of the race.) However, despite what he said in the CBS interview, Ackman, the Pershing Square Capital Management founder, seems devoted to staying blue while challenging cultural shifts, including DEI, which he labeled “reverse racism.”
Phillips’s presidential bid
The long-shot presidential candidate Dean Phillips said he was “not running in opposition” to the president but rather to encourage him to “pass the torch.” Many Democrats expressed concerns over Biden’s age, and according to a Yahoo News/YouGov poll, they would love to give someone else a chance.
Bringing the country together
For Ackman, Phillips is the perfect choice, “Dean is someone that Republicans will respect and can vote for once they get to know him. He is committed to a bipartisan cabinet and has the best shot of any of the candidates, in my opinion, to bring the country together.”
A growing support
Mike Novogratz, chief executive officer of Galaxy Investment Partners, shared in December that he is also planning to back Phillips. But, many Democrats were not as welcoming.
Phillips blasted his own party
Talking to Politico, the presidential hopeful and a midwestern moderate shared, “I do know of specific cases where representatives of the Biden campaign have been very clear to others about trying to not attend events of mine, to not support me, and to not platform me.”
Phillips’s complaint
The Ivy League-educated lawmaker added, “Right media has been more than invitational,” and stated, “I don’t think there’s an MSNBC viewer that even knows that I’m a congressman.”
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