Robert Mercer, the misanthropic billionaire who made Trump president

By | March 18, 2018

Jane Mayer writes:

[Robert] Mercer is the co-C.E.O. of Renaissance Technologies, which is among the most profitable hedge funds in the country. A brilliant computer scientist, he helped transform the financial industry through the innovative use of trading algorithms. But he has never given an interview explaining his political views. Although Mercer has recently become an object of media speculation, Trevor Potter, the president of the Campaign Legal Center, a nonpartisan watchdog group, who formerly served as the chairman of the Federal Election Commission, said, “I have no idea what his political views are—they’re unknown, not just to the public but also to most people who’ve been active in politics for the past thirty years.” Potter, a Republican, sees Mercer as emblematic of a major shift in American politics that has occurred since 2010, when the Supreme Court made a controversial ruling in Citizens United v. Federal Election Commission. That ruling, and several subsequent ones, removed virtually all limits on how much money corporations and nonprofit groups can spend on federal elections, and how much individuals can give to political-action committees. Since then, power has tilted away from the two main political parties and toward a tiny group of rich mega-donors.

Private money has long played a big role in American elections. When there were limits on how much a single donor could give, however, it was much harder for an individual to have a decisive impact. Now, Potter said, “a single billionaire can write an eight-figure check and put not just their thumb but their whole hand on the scale—and we often have no idea who they are.” He continued, “Suddenly, a random billionaire can change politics and public policy—to sweep everything else off the table—even if they don’t speak publicly, and even if there’s almost no public awareness of his or her views.”

Through a spokesman, Mercer declined to discuss his role in launching Trump. People who know him say that he is painfully awkward socially, and rarely speaks. “He can barely look you in the eye when he talks,” an acquaintance said. “It’s probably helpful to be highly introverted when getting lost in code, but in politics you have to talk to people, in order to find out how the real world works.” In 2010, when the Wall Street Journal wrote about Mercer assuming a top role at Renaissance, he issued a terse statement: “I’m happy going through my life without saying anything to anybody.” According to the paper, he once told a colleague that he preferred the company of cats to humans.

Several people who have worked with Mercer believe that, despite his oddities, he has had surprising success in aligning the Republican Party, and consequently America, with his personal beliefs, and is now uniquely positioned to exert influence over the Trump Administration. In February, David Magerman, a senior employee at Renaissance, spoke out about what he regards as Mercer’s worrisome influence. Magerman, a Democrat who is a strong supporter of Jewish causes, took particular issue with Mercer’s empowerment of the alt-right, which has included anti-Semitic and white-supremacist voices. Magerman shared his concerns with Mercer, and the conversation escalated into an argument. Magerman told colleagues about it, and, according to an account in the Wall Street Journal, Mercer called Magerman and said, “I hear you’re going around saying I’m a white supremacist. That’s ridiculous.” Magerman insisted to Mercer that he hadn’t used those words, but added, “If what you’re doing is harming the country, then you have to stop.” After the Journal story appeared, Magerman, who has worked at Renaissance for twenty years, was suspended for thirty days. Undaunted, he published an op-ed in the Philadelphia Inquirer, accusing Mercer of “effectively buying shares in the candidate.” He warned, “Robert Mercer now owns a sizeable share of the United States Presidency.”

Nick Patterson, a former senior Renaissance employee who is now a computational biologist at the Broad Institute, agrees that Mercer’s influence has been huge. “Bob has used his money very effectively,” he said. “He’s not the first person in history to use money in politics, but in my view Trump wouldn’t be President if not for Bob. It doesn’t get much more effective than that.” [Continue reading…]

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