Billionaire businessman Stephen Cloobeck has withdrawn his support for Rep. Eric Swalwell (D-Calif.) and is seeking to distance himself from the embattled congressman following a wave of sexual assault and misconduct allegations that have upended Swalwell’s political future.
Cloobeck, the founder of Diamond Resorts and a former California gubernatorial candidate, told the New York Post on Sunday that he is cutting ties with Swalwell after previously backing his campaign and contributing more than $1 million. The billionaire had also allowed Swalwell to stay at his Beverly Hills mansion during the race.
“I am no longer supporting Eric,” Cloobeck told the outlet. “F**king tell everyone I’m a libertarian. F**k you, Democrat Party. I’m a libertarian now.”
His abrupt break marks a sharp reversal from just weeks earlier. In a March interview with Politico, Cloobeck referred to Swalwell as his “little brother” and dismissed concerns about the congressman’s alleged behavior with female staffers when asked by the New York Post.
The shift comes after multiple women accused Swalwell of sexual misconduct, including allegations of rape, in reporting first detailed by CNN. According to those accounts, at least four women have come forward. The allegations have triggered mounting political and legal scrutiny, including a review by the Manhattan District Attorney’s office, as one alleged incident reportedly occurred in New York.
Swalwell has denied all allegations.
“I will fight the serious, false allegations that have been made — but that’s my fight, not a campaign’s,” he said in a statement announcing he would suspend his gubernatorial campaign Sunday. He also said he is “deeply sorry for mistakes in judgment I’ve made in my past.”
The fallout has been swift. More than 50 former Swalwell staffers have called for his resignation, and top House Democratic leaders — including Minority Leader Hakeem Jeffries (D-N.Y.), Caucus Chair Pete Aguilar (D-Calif.), and Whip Katherine Clark (D-Mass.) — urged him to end his gubernatorial bid.
“Following the incredibly disturbing sexual assault accusations against Congressman Eric Swalwell, we call for a swift investigation into these incidents and for the Congressman to immediately end his campaign to be California’s next Governor,” the lawmakers said in a joint statement.
Cloobeck’s financial and personal support had been a significant asset to Swalwell’s campaign. The billionaire not only endorsed him after ending his own short-lived gubernatorial bid, but also hosted him at his 9,700-square-foot home.
“I have a lot of people who stay at my house,” Cloobeck said. “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.”
He confirmed that Swalwell is no longer staying at the property and suggested he may attempt to recover his financial contributions, though he said that would depend on legal guidance.
“I’m gonna have to investigate that. I don’t know the answer to that,” Cloobeck said when asked whether he believed Swalwell had been truthful with him.
Beyond Swalwell, Cloobeck also voiced broader frustration with the Democratic Party, signaling a potential political realignment after decades of affiliation.
“I’m going to change my godd*mn party affiliation, because I cannot stand this Democratic Party at all,” he told the Post. “I am done. Finito.”
Cloobeck’s break underscores the broader collapse of support surrounding Swalwell, who until recently was considered a leading contender in California’s gubernatorial race. With major donors, party leaders, and former staffers abandoning him, and investigations now underway, the congressman faces an increasingly uncertain political future — both in California and in Congress.
Rep. Anna Paulina Luna (R-Fla.) said she plans to file a motion to expel Swalwell from the House. Expulsion would require a two-thirds vote, meaning significant Democratic support would be necessary. Some Democrats have already indicated they would back such a move if Swalwell does not step down.
Separate investigations may further complicate his situation. The Department of Homeland Security said Sunday it is probing allegations that Swalwell illegally employed a nanny, while Manhattan District Attorney Alvin Bragg’s office confirmed it is reviewing the sexual assault claims.
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I can’t believe ANYONE would believe a word that swalwell says. I could almost bet that the word “sleaze” occupies the same page in the dictionary as the word “swalwell”. Swalwell is NOT a person to be trusted… for anything.