The New Yorker: The Reclusive Hedge-Fund Tycoon Behind The Trump Presidency

Jane Meyer
Mar 27, 2017
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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...

Brendan Fischer, a lawyer at the Campaign Legal Center, said that the Mercers’ financial entanglement with the Trump campaign was “bizarre” and potentially “illegal.” The group has filed a complaint with the Federal Election Commission, which notes that, at the end of the 2016 campaign, the super pac run by the Mercers paid Glittering Steel—a film-production company that shares an address in Los Angeles with Cambridge Analytica and Breitbart News—two hundred and eighty thousand dollars, supposedly for campaign ads attacking Hillary Clinton. Although Bannon was running Trump’s campaign, Fischer said that it appears to have paid him nothing. Meanwhile, the Mercers’ super pac made a payment of about five million dollars to Cambridge Analytica, which was incorporated at the same address as Bannon Strategic Advisors. Super pacs are legally required to stay independent of a candidate’s campaign. But, Fischer said, “it raises the possibility of the Mercers subsidizing Steve Bannon’s work for the Trump campaign.”

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