Lefty billionaire businessman Stephen Cloobeck said he had severed ties with Rep. Eric Swalwell (D-Calif.) and asked him to leave his mansion, according to remarks made hours before the California Democrat ended his gubernatorial campaign and announced plans to resign from Congress amid a growing scandal.
In an interview with a local Fox affiliate, an obviously irritated Cloobeck also declared he was no longer a Democrat over the scandal, but a “Libertarian-Republican,” which is “what Blue Dog Democrats” were just a few decades ago – a referencing to moderate Dems who often sided with Republicans on issues.
The fallout between Cloobeck and Swalwell marks a significant development in the congressman’s political trajectory. Swalwell withdrew from the California governor’s race late Sunday following a series of allegations, including claims of sexual misconduct made by multiple women who said they knew or worked with him, the New York Post noted.
In the days that followed, Swalwell lost nearly all endorsements and faced increased scrutiny, including the possibility of congressional action and reports of a potential criminal investigation. Cloobeck, who had contributed more than $1 million to support Swalwell’s campaign, was previously hosting the congressman at his palatial Beverly Hills mansion, where Swalwell recorded a video denying the allegations.
Cloobeck confirmed to The Post that Swalwell was no longer staying at his residence. Reports have also referenced allegations involving Cloobeck’s fiancée, who has been accused of involvement in burglaries targeting wealthy individuals in Los Angeles, though those claims have not been independently verified.
“I have a lot of people who stay at my house,” Cloobeck said with a laugh. “I built a gorgeous place, my dream home, I relish it, and I’m a very generous man. I’m very thoughtful and I’m very kind.”
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In the interview with the local Fox affiliate, an agitated Cloobeck said he was caught completely off-guard by the disturbing allegations against Swalwell. He also said he had “heard so much” after the initial allegations he could no longer remain associated with the left-wing California lawmaker.
“He added that he would need to talk with his attorney to see if he can claw back the $1 million he gave an independent committee supporting Swalwell,” The Post reported.
Just weeks earlier, Cloobeck had publicly described Swalwell as his “little brother” in an interview with Politico, and he had previously dismissed questions about allegations of inappropriate conduct. Cloobeck, who said he has been a Democrat for more than 40 years, indicated he is uncertain how the situation will ultimately unfold but said the controversy was significant enough for him to distance himself.
“I don’t know where these facts are going to end up — you hear or read all this stuff,” he said. When asked whether he believed Swalwell had been honest and upfront with him, Cloobeck responded: “I’m gonna have to investigate that. I don’t know the answer to that.”
Cloobeck, who gained wider public recognition after a brief run for governor and appearances on the television program Undercover Boss, has been a significant financial supporter of Swalwell. In addition to hosting the congressman at his residence, Cloobeck contributed the maximum allowable $39,200 to Swalwell’s campaign and provided a trip to France in 2024 valued at approximately $31,000, according to reports.
Cloobeck had harsh words for fellow billionaire Tom Steyer, saying the left-wing hedge funder-turned-environmentalist and gubernatorial candidate who has dropped nearly $100 million of his own money on his bid, “spending all this money on bulls—.”
“I’ve met most of the players, and I will continue to,” said Cloobeck, though it’s pretty clear party affilation will not be what he will prioritize the most. “I’m going to change my Godd— party affiliation, because I cannot stand this Democratic Party at all,” he told The Post. “I am done. Finito.”