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In Paradise Papers, his name was initially lost. The research on offshore businesses of elite had revealed dubious complications of Trade Minister Wilbur Ross with Kremlin. A message that is specific to next few days. But fact that Robert Mercer, public-shy hedge fund manager, ran a whole network of companies across Bermuda and thus avoided tax payments in millions of dollars in homeland, was almost under way.
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The influence of Robert Mercer on US politics today is at least as large as that of Minister of Commerce. The 71-year-old CEO of Renaissance Capital, a large, very discreet US hedge fund, has become one of most important names in politics in recent years. Through his organizations, especially Mercer Family Foundation, he has spent so far an estimated 62 million dollars to influence politics in country in his own sense. The Financier, who hates state as much as expert, supported a congress in Wyoming, where speakers made a strong contribution to re-introduction of gold standard, and donated hundreds of thousands of dollars to organizations that were forced to fight school Fight.
He has only been in spotlight since last year. With his money, Mercer had initially supported candidacy of Ted Cruz, but soon put himself behind Donald Trump and helped him get into White House with a bulging war chest. Trump also knew how important support was: in December, newly elected president Mercer thanked himself personally for his support at an event at his estate in Long Island. The hedge fund manager, say connoisseurs, is in favour of libertarian antiestablishing of what Industrial brors Charles and David Koch are for Republicans and investor George Soros for Democrats.
His fortune made Mercer late. The computer scientist tinkering long for industry giant IBM on systems that should automate language translations before a job offer of Renaissance came at end of 40. There, Mercer, toger with colleagues, filed algorithms that should make financial transactions predictable. The calculations included a number of factors, including wear forecasts, which were n translated into investment decisions. Mercer’s money is also in Cambridge Analytica – data company that promises to make sure ads on Facebook with ir analyses and to have helped Trump and Brexit to succeed. Two committees of US Congress are currently investigating company for possible cooperation with Russian officials.
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The calculation methods paid off for Renaissance. The hedge fund now manages more than 50 billion dollars and drives returns of almost 40 percent. Renaissance has long been only money of its own employees, for outsiders fund has been closed for years. According to Paradise papers, company should, among or things, run highly profitable pension funds of employees and deal with hundreds of thousands of dollars in taxes, as British Guardian analyzed. Already in past years complicated company network had been targeted by American tax Authority. The IRS accuses Renaissance of having circumvented a total of around 6.8 billion dollars in taxes.
At beginning of November, Robert Mercer surprisingly resigned from management of Renaissance. In an open letter, 71-year-old founded decision, among or things, with great attention he received in media last year – and on occasion with “false information” on his political sentiment, which he been disseminated.
More important than resignation, however, was for many a paragraph farr back: he wanted to transfer his shares on right platform Breitbart to his daughters, Mercer explained. At same time, he dissociated himself – for him atypically – from ir controversial light figure Steve Bannon in public. Although he is debating politics with Bannon every now and n. “But,” Mercer noted, “I make my own decisions about who I support politically. And se decisions do not always coincide with those of Mr. Bannon. “
