Billionaire Cuts Ties With Swalwell, Leaves Democratic Party

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Leftist billionaire Stephen Cloobeck has cut ties with former Democratic California Rep. Eric Swalwell and left the Democratic Party following repeated allegations of sexual misconduct against Swalwell. Cloobeck told the New York Post that he had kicked Swalwell out of his $26 million Beverly Hills mansion and no longer supports his candidacy for California governor.

Why it matters

The fallout between Cloobeck and Swalwell highlights the growing tensions within the Democratic Party over issues of sexual misconduct and accountability. Cloobeck's decision to leave the party altogether also reflects the broader political realignment happening among some high-profile donors and supporters.

The details

Cloobeck had spent over $1 million supporting Swalwell's campaign and had allowed him to frequently stay at his mansion. However, after the latest allegations of sexual misconduct against Swalwell, Cloobeck said he is 'no longer supporting Eric' and wants to get a refund. Swalwell had also filmed a video denying the allegations inside Cloobeck's home.

• On Sunday, Cloobeck kicked Swalwell out of his mansion.
• On Monday, Swalwell announced he would suspend his campaign for California governor and resign from the House.

What they’re saying

What’s next

Cloobeck said he plans to investigate whether Swalwell had been truthful with him about the allegations. The former congressman's political future remains uncertain after dropping out of the California governor's race.