With investors under fire for financing white nationalism, Robert Mercer resigns from hedge fund
FILE – IN THIS TUESDAY, FEB. 21, 2017 FILE PHOTO, MILO YIANNOPOULOS SPEAKS DURING A NEWS CONFERENCE IN NEW YORK. POLARIZING RIGHT-WING WRITER MILO YIANNOPOULOS HAS FILED A $10 MILLION LAWSUIT OVER A CANCELED BOOK DEAL, FRIDAY, JULY 7, 2017 .(CREDIT: AP PHOTO/SETH WENIG, FILE)
The move comes just two weeks after ThinkProgress exposed Mercer as the link between 12 wealthy institutions and white nationalism.
Robert Mercer, the billionaire that has funded Breitbart and Milo Yiannopoulos, resigned from his role as CEO of the quant hedge fund Renaissance Technologies, according to the New York Times. Mercer’s resignation came just two weeks after ThinkProgress revealed 12 nonprofits, universities, and public retirement funds had invested millions of dollars into the hedge fund, noting that their investments were helping fund white nationalism.
In a statement, Robert Mercer also repudiated Milo Yiannopoulos, who laundered white nationalist propaganda, saying he has severed all ties.
Wow, incredible statement from Bob Mercer — on Bannon, Milo, Breitbart: pic.twitter.com/6oSPpYlB7o
— Joshua Green (@JoshuaGreen) November 2, 2017
Mercer sent a letter investors and pension advisors on Thursday morning informing them of his plans to step down from his post at Renaissance Technologies at the end of the year but said he would remain active on the research side of the company, the New York Times reported.
The ThinkProgress story sparked large public outcry, with thousands of people tweeting and messaging those institutions to divest. Michigan State University was targeted by student groups and an activist group that launched a successful campaign to stop Breitbart advertising called Sleeping Giants.
Mercer’s political views run contrast to Renaissance Technologies’ founder James Simons, a historically large donor of Democrat causes and campaigns