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Robert Mercer, GOP Mega-Donor, Resigns From Hedge Fund

Richard Drew

Renaissance Technologies co-CEO Robert Mercer will step down from his post at the end at the end of the year. Mercer announced his plans in a letter to investors that was seen by the New York Times and Wall Street Journal.

Mercer also said that while he would resign from the East Setauket-based hedge fund’s board, he would continue to do research for the fund.

Mercer cited his age as the reason why he’s leaving, but also addressed his conservative political views.

Mercer and his daughter Rebecca were supporters of President Trump, and provided backing to Cambridge Analytica, a voter data firm used by Trump.

He also had a stake in Breitbart News, which he said he sold to his daughters for “personal reasons.”

Renaissance, which has $50 billion in assets, uses complex algorithms to make high speed trades.

Terry Sheridan is an award-winning audio journalist. As part of his duties as Senior Director of News and Education, he developed a unique and award-winning internship program with the Stony Brook University School of Communications and Journalism, where he is also a lecturer and adjunct professor. He also mentors graduate fellows from the Sacred Heart University Graduate School of Communication, Media, and the Arts.