Fund Manager Jim Chanos Supports Biden Presidential Run

Updated on

Jim Chanos, the president and founder of hedge fund firm Kynikos Associates, says he would personally welcome and financially back a presidential bid by current U.S. Vice President Joe Biden.

The Washington DC rumor mill has been swirling at high speed over the last few weeks, with much of the talk focusing on a possible run for the Democratic presidential nomination by current VP Joe Biden. Political analysts note a decision to join the race would be a huge blow to current front runner Hillary Clinton, but apparently some major Democratic insiders are becoming increasingly worried about Clinton’s candidacy given the reality that the email messages scandal is not going away any time soon.

Statement from Jim Chanos on Biden run

“If the vice president is going to run, I would raise money for him and I would give to him personally,” Chanos noted in a phone interview with Bloomberg Business on Tuesday. “I’ve had no indication from him about what he’s going to do. I haven’t spoken to him.”

More on possible Biden presidential run

The vice president has not spoken on the subject in some time, and Biden’s aides continue to say he has not yet made a decision. However, the recent accelerated pace of political activities by Biden is being interpreted by his supporters that he is seriously considering a run. Knowledgeable sources have told Bloomberg to October 1st is the most likely date for Biden to make an announcement one way or the other.

Based on data from the Center for Responsive Politics, Jim Chanos has given the most to political groups supporting a range of Democratic candidates, including a $100,000 donation in 2012 to House Majority PAC, which supports Democratic campaigns in the House of Representatives.

According to the data, Chanos has made contributions to both Barack Obama’s and John Kerry’s Democratic presidential campaigns, but has not made any contributions to the campaigns of Bill or Hillary Clinton

That said, Clinton has seen significant donations from major hedge fund industry players including Paul Tudor Jones, even even though the former Secretary of State has criticized their low tax rates in several of her campaign speeches.

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