Hedge-fund billionaire Seth Klarman, a major Republican donor, is using the money he got under President Donald Trump’s tax cut to bankroll Democrats.
“I received a tax cut I neither need nor want,” Klarman, CEO of the Baupost Group hedge fund, told the Boston Globe in an article published Sunday. “I’m choosing to invest it to fight the administration’s flawed policies and to elect Democrats to the Senate and House of Representatives.”
Klarman said that Republicans “have failed to hold the President accountable and have abandoned their historic beliefs and values,” and that Democrats need to win one or both chambers of Congress in the midterms “for the good of the country.”
The Globe noted Klarman’s long-standing opposition to Trump. “Tragically, Donald Trump has displayed few of the character traits required in a US president, and no aptitude for or interest in developing them,” Klarman said. He donated $5,400 to Hillary Clinton’s campaign once Trump became the GOP’s candidate for the general election.
Klarman has already given about $222,000 to 78 Democrats running for Congress since the 2016 election, according to the Globe.
