Billionaire Cuts Ties with Congressman Swalwell Amid Sex Allegations

Stephen Cloobeck kicks Swalwell out of mansion, demands $1M back in fallout over misconduct claims

Apr. 13, 2026 at 1:19am

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A dynamic, abstract painting featuring the fractured silhouette of a politician in shades of blue, red, and grey, conveying a sense of political upheaval and scandal.The fallout between a billionaire donor and an embattled congressman exposes the political risks of misconduct allegations.Los Angeles Today

Lefty billionaire Stephen Cloobeck has dramatically cut ties with Democratic Congressman Eric Swalwell, kicking him out of Cloobeck's Beverly Hills mansion and demanding back the over $1 million he spent supporting Swalwell's political ambitions. The move comes after several women publicly accused Swalwell of rape, sexual assault, and other misconduct, leading to a loss of endorsements and a potential criminal investigation.

Why it matters

The high-profile falling out between Cloobeck and Swalwell underscores the serious political and legal jeopardy the congressman now faces amid the mounting allegations against him. Cloobeck's decision to publicly distance himself and seek to recoup his financial support deals a major blow to Swalwell's political future.

The details

Cloobeck told The Post that he is 'no longer supporting Eric' and has kicked the embattled congressman out of his 9,700 square foot Beverly Hills mansion, where Swalwell had been staying. Cloobeck, a timeshare mogul who briefly ran for California governor, had given over $1 million to an independent committee supporting Swalwell's political ambitions, including a $31,000 trip to France. Now, Cloobeck says he will consult his attorney to see if he can claw back that $1 million in light of the allegations against Swalwell.

  • On Friday, several women publicly accused Swalwell of rape, sexual assault, and other misconduct.
  • Late Sunday, Swalwell withdrew from the California governor's race amid the fallout from the allegations.

The players

Stephen Cloobeck

A lefty billionaire and timeshare mogul who had been a major financial supporter of Congressman Eric Swalwell, but has now dramatically cut ties with him.

Eric Swalwell

The Democratic Congressman from California's 15th district who is facing allegations of rape, sexual assault, and other misconduct from several women, leading to a loss of endorsements and a potential criminal investigation.

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What they’re saying

“I am no longer supporting Eric. F—ing tell everyone I'm a libertarian. F— you, Democrat Party. I'm a libertarian now.”

— Stephen Cloobeck, Billionaire

“I don't know where these facts are going to end up — you hear or read all this stuff.”

— Stephen Cloobeck, Billionaire

What’s next

Cloobeck says he will consult his attorney to determine if he can recoup the over $1 million he spent supporting Swalwell's political ambitions.

The takeaway

The dramatic fallout between Cloobeck and Swalwell underscores the serious political and legal jeopardy the congressman now faces amid the mounting allegations of misconduct, which have already led to a loss of endorsements and a potential criminal investigation.