Bannon’s rich backers abandon him
Mercer family kicks strategist to curb over book
WASHINGTON — Enthusiasm for Steve Bannon’s plans for a fiery Republican revolution had already been fading among some of the donors and candidates on whom he was relying to upend the party’s establishment.
But Bannon’s provocative remarks about President Donald Trump and his family, reported in a new book now scheduled to be released Friday, and Trump’s angry response, further alienated some of Bannon’s most important backers — including the family of hedge fund magnate Robert Mercer.
The Mercers were blunt Thursday in cutting the cord, reiterating support for Trump while disavowing Bannon’s remarks and disowning his political endeavors. “My family and I have not communicated with Steve Bannon in many months and have provided no financial support to his political agenda, nor do we support his recent actions and statements,” Rebekah Mercer, Robert Mercer’s daughter, said in a statement. “I have a minority interest in Breitbart News, and I remain committed in my support for them.”
Bannon’s predicament highlights a stark reality in American politics, unchanged even after Trump’s convention-defying victory: The influence of political strategists is inextricably linked to the donors behind them and the politicians in front of them.
“If Trump is openly breaking with him, that dramatically lowers his capital,” said Dan Eberhart, an Arizona oil investor and Republican donor who has spoken to Bannon about his plans to build an anti-establishment political operation. “He is a strategic thinker, and a lot of the things he said make sense, but this stuff from the book — I’m not going to defend that.”
Bannon proclaimed that he would stage a revolt against Sen. Mitch McConnell, R-Ky., the majority leader, recruiting primary race challengers who could defeat incumbent Republican senators and remove McConnell from his post. But the loss of the Mercer family’s support will be particularly hard for Bannon to overcome.
The family has pumped tens of millions of dollars into businesses and groups that formed the platform from which Bannon has waged his crusade. Besides their share of Breitbart, they own the political data firm Cambridge Analytica, where Bannon sat on the board, and the investigative nonprofit Government Accountability Institute, which Bannon co-founded.