Leon Cooperman Writes Scathing Letter to Senator Elizabeth Warren

November 1, 2019 | Hedge Funds, Investments, Latest News, News
https://dailyalts.com/wp-content/uploads/2019/11/47699364212_411beea163_b-e1572617667862.jpg

The letter is the latest in a battle of words between the billionaire investor and the populist candidate

Leon Cooperman sent a scathing letter to Senator Elizabeth Warren. The release comes a week after the Democratic candidate publicly criticized the hedge fund manager on Twitter.

In the letter, the CEO of Omega Advisors writes: “Our political differences aside, your tweet demonstrated a fundamental misunderstanding of who I am, what I stand for, and why I believe so many of your economic policies are misguided.”

“You proceeded to admonish me (as if a parent chiding an ungrateful child) to ‘pitch in a bit more so everyone else has a chance at the American dream,’” Cooperman wrote, according to CNBC.

Cooperman argued that Warren’s tweet “demonstrated a fundamental misunderstanding of who I am, what I stand for, and why I believe so many of your economic policy initiatives are misguided.”

Leon Cooperman and Elizabeth Warren on Wealth

In the letter, seen here, Leon Cooperman discussed his career and success. He also said that Warren failed to understand that people not born into money or married into it can “become rich by providing a product or service that others want and are willing to pay for.” Cooperman cited the success stories of Home Depot founders Ken Langone, Bernie Marcus, and Arthur Blank. He also discussed the success stories of Michael Bloomberg, Larry Page, and Sergey Brin.

Cooperman also challenged the economic studies and policies of two of her economic advisers. The lengthy letter concludes that Cooperman is an independent. He also lays out fiscal policy proposals, including his support for the Buffett Rule, the elimination of tax loopholes, and the reduction of bureaucratic bloat.  He encourages Warren to “elevate the dialogue.”

Warren responded to CNBC’s report on the letter by sending out another Tweet about Cooperman.

“Leon is wrong. I’m fighting for big changes like universal childcare, investing in public schools, and free public college,” Warren wrote. “We can do all of that with a . Leon can and should pitch in more—so that every kid has the same opportunities he did to succeed.”

Related: Elizabeth Warren: Everything is Wrong with Private Equity, Everything

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…