Billionaire Cuts Ties With Disgraced Politician Swalwell Amid Assault Allegations

Stephen Cloobeck details final confrontation with Swalwell and vows no more financial support

Apr. 14, 2026 at 2:22am

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A dynamic, abstract painting with overlapping geometric shapes and figures in shades of gray, navy, and deep red, conceptually representing the turbulent collapse of a politician's career amid allegations of sexual misconduct.The rapid downfall of a disgraced politician accused of sexual assault exposes the fragility of power and the need for greater accountability.Beverly Hills Today

Billionaire Stephen Cloobeck, a former benefactor of disgraced politician Eric Swalwell, has cut ties with the former Democratic frontrunner for California governor amid allegations of sexual assault from four women. Cloobeck says he told Swalwell to 'get the f--k out' of his $26 million Beverly Hills mansion where Swalwell was staying as the allegations surfaced. Cloobeck also denied issuing any non-disclosure agreements to Swalwell's accusers and vowed to provide 'zero financial help' moving forward.

Why it matters

The fallout from the allegations against Swalwell, a former U.S. Congressman, highlights the political and personal consequences for politicians accused of sexual misconduct. Cloobeck's public denouncement and withdrawal of support could further damage Swalwell's political future and reputation.

The details

According to the report, Swalwell was staying at Cloobeck's $26 million mansion in Beverly Hills as the allegations against him came to light. Cloobeck says he confronted Swalwell, telling him 'you busted the trust' and to 'get the f--k out of here.' Cloobeck also confirmed that his lawyer initially defended Swalwell on CNN, but that he has now cut off all financial support and will provide 'zero financial help' moving forward. Cloobeck denied issuing any non-disclosure agreements to Swalwell's accusers.

  • Swalwell was staying at Cloobeck's mansion as the allegations against him surfaced in April 2026.
  • Swalwell announced his resignation from Congress on Monday, April 14, 2026.

The players

Stephen Cloobeck

A billionaire who was previously a benefactor of Eric Swalwell, but has now cut ties with the disgraced politician amid the sexual assault allegations.

Eric Swalwell

A former U.S. Congressman and Democratic frontrunner for California governor who has been accused of sexual assault by four women, including an ex-staffer who claims he raped her.

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What they’re saying

“I am no longer associated with a man that takes advantage of women. I support women's rights.”

— Stephen Cloobeck, Billionaire

“I just told him: 'you busted the trust,' I'm shocked, I'm disturbed and get the f--k out of here. Then I walked away and that was it.”

— Stephen Cloobeck, Billionaire

What’s next

Swalwell faces a sexual assault investigation from the Manhattan District Attorney's Office.

The takeaway

This case highlights the swift political and personal fallout for politicians accused of sexual misconduct, even from former allies and benefactors. It also raises questions about the role of non-disclosure agreements in silencing accusers and the need for greater accountability for those in positions of power.