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Robert Mercer Steps Down, Will Sell Breitbart Holdings to Daughters, Regrets Milo

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posted on Nov, 2 2017 @ 11:46 AM
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The secretive billionaire known for his funding of Breitbart New, its associated research firm GAO, sketchy electioneering outfit Cambridge Analytica — and for being President Trump's biggest booster — has stepped down from his role as co-CEO of hedge fund giant Renaissance Technologies and resigned from its board of directors.

He's also offloaded his shares in Breitbart to his daughters.

Interestingly, he dedicated a sizeable chunk of statement to Renaissance staff to lamenting his support for Milo Yiannopoulos. Here's the statement:


Dear Colleagues,

During the past year, I have been the object of a great deal of scrutiny from the press. I have declined to comment on what has been written about me, imagining that with time the attention would dissipate. Because that has yet to happen, I have decided to correct some of the misinformation that has been published about me. It is not my intention to impose the views I describe below on anyone else.

My goal is simply to explain my thinking, the very essence of which is that all of us should think for ourselves.

I believe that individuals are happiest and most fulfilled when they form their own opinions, assume responsibility for their own actions, and spend the fruits of their own labor as they see fit. I believe that a collection of individuals making their own decisions within the confines of a clear and concise set of laws that they have determined for themselves will advance society much more effectively than will a collection of experts who are confident in their knowledge of what is best for everyone else. This is why I support conservatives, who favor a smaller, less powerful government.

A society founded on the basis of the individual freedom that flourishes under a limited federal government has no place for discrimination. Of the many mischaracterizations made of me by the press, the most repugnant to me have been the intimations that I am a white supremacist or a member of some other noxious group.

Discrimination on the basis of race, ethnicity, gender, creed, or anything of that sort is abhorrent to me. But more than that, it is ignorant.

The press has also intimated that my politics marches in lockstep with Steve Bannon's. I have great respect for Mr. Bannon, and from time to time I do discuss politics with him. However, I make my own decisions with respect to whom I support politically. Those decisions do not always align with Mr. Bannon's.

Without individuals thinking for themselves, society as a whole will struggle to distinguish the signal of truth from the correlated noise of conformity. I supported Milo Yiannopoulos in the hope and expectation that his expression of views contrary to the social mainstream and his spotlighting of the hypocrisy of those who would close down free speech in the name of political correctness would promote the type of open debate and freedom of thought that is being throttled on many American college campuses today. But in my opinion, actions of and statements by Mr. Yiannopoulos have caused pain and divisiveness undermining the open and productive discourse that I had hoped to facilitate. I was mistaken to have supported him, and for several weeks have been in the process of severing all ties with him.

For personal reasons, I have also decided to sell my stake in Breitbart News to my daughters.

I would also like to inform you of a decision I have reached with respect to my role at Renaissance, an organization I adore with colleagues whom I deeply respect and admire. I am 71 years old, the same age that Jim Simons was when he retired. I do not plan to retire, but I do plan to relinquish my management responsibilities.

Peter Brown and I have been Co-CEOs for the past eight years. On January 1, 2018, I will step down from my position as Co-CEO and resign from the board of directors. I will continue with the firm as a member of its technical staff, focusing on the research work that I find most fulfilling. Peter will continue on as CEO, and I will provide him with my counsel whenever he feels that I can be helpful to him and to the company where I have spent so many wonderful years.

RLM


Given that expression of regret and other cues from the statement, it's perhaps not surprising that BuzzFeed is crediting its reporting on Yiannopoulos's leaked emails for the timing of Mercer's departure. The expose, released a few weeks ago, is rather lengthy but worth a read. It reveals how despite threats of lawsuits and vehement denials, Yiannopoulos did in fact maintain close ties behind the scenes with a number of Alt-Right figures and even sought their editorial counsel for a fawning piece about the Alt-Right written by his ghost writing lackey.

The emails also reveal a willingness by Yiannopolous to push Islamaphobia and the role of Mercer's daughter and soon-to-be Breitbart shareholder, Rebekah, in directing the reporting of Breitbart.

According to BuzzFeed, Mercer's associates at Renaissance were none to happy:

Hedge Fund Billionaire Robert Mercer Will Step Down From His Company Following BuzzFeed News Expose


Sources familiar with Renaissance informed BuzzFeed News in recent days of significant anger within the company about the report, which revealed that former Breitbart News tech editor Milo Yiannopoulos had cultivated white nationalists and used them to generate ideas and help edit stories on the site.

Mercer's statement specifically denounces Yiannopoulos and states that "I was mistaken to have supported him, and for several weeks have been in the process of severing all ties with him." He also announced his intention to sell his stake in Breitbart News to his daughters.


Make of that what you will but Mercer is famously adverse to the spotlight so I don't find it hard to believe that he's not enjoying being tied to unsavory tiki torch wielding elements from the fringe that Breitbart has worked to introduce into the mainstream of conservatism. Speaking of which, also of significance in Mercer's statement is his distancing of himself from the politics of Stephen Bannon, who once bragged that Breitbart under his leadership was the platform for the Alt-Right.

So what do we think ATS? Mercer cashing out of the game or just retreating into the shadows?




posted on Nov, 2 2017 @ 11:49 AM
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Aren't the Mercer's the ones who think NUCLEAR WAR is "a good thing" and a person's value as a human is tied to how much wealth they have?



posted on Nov, 2 2017 @ 11:57 AM
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Perhaps it's an economic decision as cult45 will disband soon and Breitbart will have lost most of its audience.

Or perhaps Alex Jones has become the standard bearer of the right.
edit on 2-11-2017 by olaru12 because: (no reason given)



posted on Nov, 2 2017 @ 11:59 AM
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originally posted by: olaru12
Perhaps it's an economic decision a cult45 will disband soon and Breitbart will have lost most of its audience.


Cambridge Analitica is moving SOUTH of the border to Mexico...

They're working down there NOW and abandoning the USA ... elections to INFLUENCE down there.

Money in the USA is drying up for Mercer.

Mexico is their next juicy target...



posted on Nov, 2 2017 @ 11:59 AM
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a reply to: olaru12

I wouldn't get your hopes up.



posted on Nov, 2 2017 @ 12:03 PM
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a reply to: DanteGaland

I believe you're referring to Robert Mercer's support for a man named Author Robinson. He's a biochemist with a sheep farm in Oregon who is doing some sort of life extension research involving thousands of samples of human urine. Mercer is his biggest (perhaps sole) source of funding.

Robinson is known for a number of crackpot theories including one that holds that the radiation from the Hiroshima and Nagasaki bombs was actually good for the health of Japanese people overall. He's also noted for his believe that global warming could be good for the planet, assuming its real.



posted on Nov, 2 2017 @ 12:04 PM
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There's SMOKE around Mercer due to Cambridge Analyitica...ties to Russian oligarchs among other things.

Roger Alies lucked out and died before all this began FALLING APART...

Have to wonder about the TIMING of this news...what news is about to drop???




posted on Nov, 2 2017 @ 12:05 PM
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originally posted by: Krazysh0t
a reply to: olaru12

I wouldn't get your hopes up.


I guess I'm a hopeless romantic. My dream is for Milo and Alex Jones to team up for Right wing spokespersons... all hopped up on .......Strawberry Caveman True Paleo formula ...

We can still dream can't we?



edit on 2-11-2017 by olaru12 because: (no reason given)



posted on Nov, 2 2017 @ 12:07 PM
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originally posted by: theantediluvian
a reply to: DanteGaland

I believe you're referring to Robert Mercer's support for a man named Author Robinson. He's a biochemist with a sheep farm in Oregon who is doing some sort of life extension research involving thousands of samples of human urine. Mercer is his biggest (perhaps sole) source of funding.

Robinson is known for a number of crackpot theories including one that holds that the radiation from the Hiroshima and Nagasaki bombs was actually good for the health of Japanese people overall. He's also noted for his believe that global warming could be good for the planet, assuming its real.


YUP!


Mercer is THE alt-right Sugar Daddy for sure...

Odd that they owe 6 BILLION in back taxes. Maybe THAT could be part of all this?



posted on Nov, 2 2017 @ 12:08 PM
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He is 71 so maybe just retiring...



posted on Nov, 2 2017 @ 12:09 PM
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a reply to: olaru12

It may have something to do with concerns from inside Renaissance that Mercer's ties to Breitbart could result in a hit to their collective fortunes but I doubt it. Their most profitable fund is closed, completely secret and their whole business model is built on using tech, math and physics nerds to develop algorithms in conjunction with massive data mining to drive their investment decisions, eschewing traditional methods for valuation and decision making.



posted on Nov, 2 2017 @ 12:12 PM
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originally posted by: DanteGaland

originally posted by: olaru12
Perhaps it's an economic decision a cult45 will disband soon and Breitbart will have lost most of its audience.


Cambridge Analitica is moving SOUTH of the border to Mexico...

They're working down there NOW and abandoning the USA ... elections to INFLUENCE down there.

Money in the USA is drying up for Mercer.

Mexico is their next juicy target...


mercer is involved in the calexit thing



posted on Nov, 2 2017 @ 12:24 PM
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originally posted by: Xtrozero
He is 71 so maybe just retiring...


because retirement is announcement via a stepping down letter.
and stepping down letters via a retirement letter.

edit on 2-11-2017 by odzeandennz because: (no reason given)



posted on Nov, 2 2017 @ 12:29 PM
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originally posted by: Xtrozero
He is 71 so maybe just retiring...


Well he's not actually retiring, he's going to stay on to do research according to his statement but aside from that, I think that he probably wouldn't have spent so much time addressing Bannon, Milo, etc and making a point of how he was divesting his interest in Breitbart if it were a simple retirement.



posted on Nov, 2 2017 @ 12:36 PM
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a reply to: theantediluvian

How can Milo cultivate white nationalists when he has a black boyfriend? It just seems like something is not right with all of this...



posted on Nov, 2 2017 @ 12:49 PM
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a reply to: theantediluvian

If not for ATS, I wouldn't know what's happening with this Yiannopoulos creature. Where does he come from, and what is the point? He seems to only exist in the universe in which ATS orbits, compared to the other things I see and read on a day-to-day basis.

Maybe it's his catchy name? It is recognizable, I suppose. It faintly sounds like Papadopoulos, sharing some of the same vowels, consonants and politics.



posted on Nov, 2 2017 @ 01:01 PM
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originally posted by: MisterMcKill
a reply to: theantediluvian

How can Milo cultivate white nationalists when he has a black boyfriend? It just seems like something is not right with all of this...


Same way that countless anti-gay advocates get caught with male escorts? Conservatives like to bang what they hate.



posted on Nov, 2 2017 @ 01:13 PM
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a reply to: Abysha
It's themselves that they hate for what they are, which is why they wish to make everyone else suffer with them.

K~



posted on Nov, 2 2017 @ 01:53 PM
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a reply to: theantediluvian

That was a pretty good letter Mercer wrote. I think he's probably tired of being mischaracterized and will be happy to chill in the shadows. He's not a young man, and there's not a lot of folks that want to have full management responsibilities at 71.

The ones really pushing "Islamaphobia" the most are all the Islamic terrorists. They don't require Milo to make their point. They paint the picture clear as day with blood of random civilians.
edit on 2-11-2017 by pirhanna because: (no reason given)



posted on Nov, 2 2017 @ 02:05 PM
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a reply to: DanteGaland

The Mercers are into philanthropy, of sorts
misguided philanthropy maybe...



...In Oregon, the Mercers gave six hundred and forty thousand dollars to a group that attacked Representative Peter DeFazio, a Democrat, with a barrage of negative ads during the final weeks of his 2010 reëlection campaign.

This effort also failed—it didn’t help when DeFazio announced that a New York hedge-fund manager and his daughter were meddling in Oregon politics.

Press accounts speculated that Robert Mercer may have targeted DeFazio because DeFazio had proposed a tax on a type of high-volume stock trade that Renaissance frequently made.

But several associates of Mercer’s say that the truth is stranger.

DeFazio’s Republican opponent was Arthur Robinson—the biochemist, sheep rancher, and climate-change denialist.

The Mercers became his devoted supporters after reading Access to Energy, an offbeat scientific newsletter that he writes.

The family has given at least $1.6 million in donations to Robinson’s Oregon Institute of Science and Medicine. Some of the money was used to buy freezers in which Robinson is storing some fourteen thousand samples of human urine.

Robinson has said that, by studying the urine, he will find new ways of extending the human life span.
Robinson holds a degree in chemistry from Caltech, but his work is not respected in most scientific circles.

(The Oregon senator Jeff Merkley, a Democrat, has called Robinson an “extremist kook.”) Robinson appears to be the source of Robert Mercer’s sanguine view of nuclear radiation: in 1986, Robinson co-authored a book suggesting that the vast majority of Americans would survive “an all-out atomic attack on the United States.” Robinson’s institute dismisses climate change as a “false religion.”

A petition that he organized in 1998 to oppose the Kyoto Protocol, claiming to represent thirty thousand scientists skeptical of global warming, has been criticized as deceptive.

The National Academy of Sciences has warned that the petition never appeared in a peer-reviewed journal, though it is printed in “a format that is nearly identical to that of scientific articles.”

The petition, however, still circulates online: in the past year, it was the most shared item about climate change on Facebook. Robinson, who calls himself a “Jesus-plus-nothing-else” Christian, has become a hero to the religious right for homeschooling his six children.

Robert and Rebekah Mercer have praised a curriculum that Robinson sells. (An advertisement for it casts doubt on evolution: “No demonstration has ever been made of the process of ‘spontaneous origin of life.’ ”)

Robinson has said that the “socialist” agenda of public schools is “evil” and represents “a form of child abuse

Full article


Given the current political 'climate',
i wouldn't be surprised if Mercer is bailing out to save his skin and reputation.

Maybe - not to derail - he's gotten word that Mueller is looking at
Renaissance, Cambridge Analytica, Mercer's political meddling as a whole...

It seems like a very abrupt departure at any rate

Will Rebekah stay on Team Trump or call it a day too ?



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