Leon Cooperman, the founder of Omega Advisors, does not support former First Lady and Secretary of State Hillary Clinton’s bid for the 2016 presidential elections.
In a recent interview with Cristina Alesci of CNN Money, Cooperman expressed his displeasure on Hillary Clinton’s remarks against hedge funds. He thinks Clinton is a hypocrite for criticizing hedge funds while trying to befriend them and asked for contributions.
Clinton criticized hedge funds for paying lower tax rates
Clinton targeted the amount of tax paid by hedge funds during a roundtable discussion with a small group in Monticello, Iowa last April. “There’s something wrong when hedge fund managers pay lower tax rates than nurses or the truckers that I saw on I-80 as I was driving here,” she said.
The former Secretary of State aims to close the carried interest “loophole.” According to Geoff Garin, a Democratic strategist who advised Clinton during her 2008 campaign, “Issues of tax fairness will be resonant and effective with voters. All of this will be helpful in letting average voters know that Hillary will be on their side.” Clinton’s position to close the carried interest loophole is not new.
In response to Clinton’s remarks against hedge fund managers, Cooperman said, “I don’t need anybody crapping all over what I do for a living. [She] hangs out with all these people at Martha’s Vineyard, and in the Hamptons and then the very first thing she has to say is to criticize hedge funds.”
According to Leon Cooperman, Clinton’s criticism against hedge funds is “bogus.”
Cooperman is giving back to society
Cooperman added, “I have nothing to apologize for. I’ve made a lot of money. I’m giving it all back to society.” According to him, he is giving a large amount of money to different institutions such as the Hunter College in New York, Columbia University, and Saint Barnabas Medical Center in New Jersey.
Furthermore, Leon Cooperman said, “The only thing that makes me more nauseous is those hedge funds that support her.”
Leon Cooperman emphasized that he is not looking for praise, and he lived the American Dream. He was born in the poor neighborhood in the Bronx, one of the five boroughs of New York City. At present, Leon Cooperman’s estimated net worth is nearly $4 billion.