Hedge fund billionaire, Robert Mercer, who was known as the money machine behind the Trump campaign and everything Bannon, including Breitbart, has stepped down from his co-CEO role at his company Renaissance technologies. The move comes days after a BuzzFeed report connected the billionaire to white supremacist groups.
BuzzFeed News (@BuzzFeed) reports, sources familiar with renaissance technologies informed them (BuzzFeed) that 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 nationalist and used them to generate ideas and help edit stories on the site.
Mercer’s statement denounces Yiannopoulos and states “I was mistaken to have supported him, and for several weeks have been in the process of severing all ties with him.” Mercer also announced his intention to sell his stake in Breitbart News to his daughters. Renaissance is one of the worlds most successful hedge funds and manages more than $50 billion.