A stunning reversal is unfolding in California politics as billionaire Stephen Cloobeck, founder of Diamond Resorts, dramatically severed ties with Congressman Eric Swalwell. This decisive break comes after explosive allegations of sexual misconduct effectively ended Swalwell’s campaign for governor, shattering his political ambitions.
Cloobeck, a long-time supporter of Swalwell since 2017, unleashed a torrent of frustration in interviews, declaring his complete disillusionment with the Democratic Party. He emphatically stated his new political alignment, identifying as a libertarian and, separately, a Republican, signaling a profound shift in his allegiance.
The billionaire didn’t stop at political realignment; he also issued an eviction notice, of sorts. Swalwell is no longer welcome at Cloobeck’s California mansion, a home Cloobeck described as his “dream home” and a place he generously shares with others.
Financial support from Cloobeck had been substantial, totaling $23,400 in donations to Swalwell’s campaigns between 2017 and 2023. This generosity extended beyond monetary contributions, including a lavish $39,900 flight to Nice, France, disclosed in congressional records.
Cloobeck’s anger appears to extend beyond Swalwell, hinting at a broader rejection of the Democratic Party. He vowed to formally change his party affiliation, stating he was “done” and “finito” with the party, suggesting a wider political exodus is possible.
The fallout stems from a bombshell report in the San Francisco Chronicle detailing accusations against Swalwell. The report outlined alleged instances of pursuing intoxicated women, pressuring staff into uncomfortable situations, and soliciting explicit images from female contacts.
Whispers of Swalwell’s alleged misconduct began circulating earlier this month, fueled by Cheyenne Hunt, a former Capitol Hill staffer and political media personality. Hunt shared testimony from women claiming they had been sexually assaulted by the congressman, igniting a firestorm of controversy.
Facing mounting pressure, including calls for him to withdraw from the race from prominent figures like former House Speaker Nancy Pelosi, Swalwell ultimately suspended his campaign. He maintained his innocence, framing the allegations as “serious and false” but insisting they were a personal matter, not a campaign issue.
