Seth Klarman is the billionaire CEO of the Baupost Group and a major GOP donor, make that a former-GOP donor as Klarman just announced that he will be backing Democratic candidates in the next election.
The billionaire has had enough of the Trump administration and the Republicans that are blindly following him, and he is hoping to help flip the House and the Senate at the midterm elections. Klarman discussed his decision with the Boston Globe saying, “The Republicans in Congress have failed to hold the president accountable and have abandoned their historic beliefs and values. For the good of the country, the Democrats must take back one or both houses of Congress.”
Although Klarman is an independent, he donated upwards of $7 million to Republicans during the Obama presidency. Since Trump, however, Klarman has donated to Democratic candidates running in 56 House races and vying for 22 Senate seats. Also, he has donated around $2 million to environmental nonprofits and groups seeking gun control legislation.
The extremely wealthy CEO disagree with the Republican tax cuts even though he stood to benefit from them, saying, “I received a tax cut that I neither need nor want.” He was more concerned with what those tax cuts would do to the deficit, a fiscally responsible approach...something Republicans claim to support.
Klarman has also strongly opposed Trump from the beginning, calling him a “threat to democracy” and saying that he is “completely unqualified for the highest office in the land.” Now, Klarman is actively working to limit Trump’s power since the Republicans obviously cannot be trusted to worry about anything beyond their own self-interests.