Leon Cooperman: Stop Vilifying Billionaires

November 4, 2019 | Hedge Funds, In Focus, Investments, News
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Hedge fund manager tears up while discussing the political divide

Hedge fund manager Leon Cooperman teared up on CNBC Monday while discussing his spat with Elizabeth Warren. The U.S. Senator and Democratic candidate called Cooperman out recently as part of her broader vilification of billionaires.

Cooperman recently sent a letter to Warren discussing his career and the success of other entrepreneurs in the United States. He criticized Warren’s economic policies and asked her to raise the dialogue ahead of the 2020 election

Leon Cooperman: “I Care.”

When asked why he has been so vocal about Warren and the 2020 election, Cooperman simply answered: “I care.” The interview took place on CNBC’s Halftime Report. The hedge fund manager has criticized Warren’s proposed wealth tax and her ongoing vilification of America’s wealthiest citizens.

“I don’t need Elizabeth Warren telling me that I’m a deadbeat and that billionaires are deadbeats. The vilification of billionaires makes no sense to me. The world is a sustainably better place because of Bill Gates, Michael Bloomberg, David Rubenstein, Bernie Marcus, Ken Langone,” Cooperman said.

When asked about Warren’s proposed plans for Medicare for All, cancelation of student loan debt, and other expansions of the Federal government, Cooperman didn’t hold back his criticism.

“This is idiocy. It’s appealing to the lowest common denominator and basically trying to turn people’s heads around by promising a lot of free stuff,” he said.

Cooperman Criticizes Trump

Despite his economic leanings, Cooperman didn’t spend any time praising or defending President Donald Trump. In fact, Cooperman would state that Trump should not run in 2020.

“He has to become a president for the entire country and not just his base. So if I was him, if I’m not prepared to change my behavior, I would take a victory lap and not run again,” Cooperman said in the CNBC interview.

In addition, Leon Cooperman took issue with some of Trump’s statements about other Republicans and business leaders.

“You know, Mitt Romney is not a jackass. He’s a distinguished American. Rex Tillerson is not dumb as a rock. He was a very bright guy that ran Exxon. John McCain was a true war hero,” Cooperman said. ”[The president’s] deportment is not presidential and we need a unifier in that position because the country’s being torn apart.”

Warren has yet to respond to Cooperman’s statements. Expect her team to respond on Monday.

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

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