Billionaire Democrat donor quits party over anti-Semitism on campuses and ‘reverse racism’
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A major Democratic donor billionaire has said he no longer wants to be “associated with” the party in the wake of anti-Semitism on Ivy League campuses and “racist” diversity initiatives.
Bill Ackman, who runs the hedge fund Pershing Square, told CNBC: “I was a Bill Clinton Democrat and what the party has morphed into is not something I want to be associated with”.
Mr Ackman has been outspoken on what he describes as rampant anti-Semitism at US universities in the wake of the Hamas terror attack on Israel on Oct 7.
He led the backlash over former Harvard president Claudine Gay’s response to anti-Israel protests at the Ivy League university, and was seen as instrumental in her ousting earlier this month.
The billionaire has also targeted diversity, equity and inclusion initiatives, which he has termed “reverse racism”.
Mr Ackman said he now plans to launch a think tank to go “after these issues in a very aggressive way” by examining more American universities.
“We’re going to study these issues and come up with solutions to problems, and we’re going to implement them,” he said.
The financier and activist has previously donated large sums to prominent Democrats such as Barack Obama, Al Gore and Pete Buttigieg.
But he has been increasingly critical of the party, and last year called on President Joe Biden not to seek re-election.
He warned the 81-year-old was “past his prime in a meaningful way” and should allow “alternative competition”.
“I think Biden has done a lot of good things,” he said, adding his “legacy” would suffer if he is the Democratic candidate in 2024.
He has signalled he is “more open to Republican candidates”, such as Nikki Haley, the former South Carolina governor challenging Donald Trump for the GOP nomination, or Vivek Ramaswamy, a young entrepreneur and political novice.
