The downfall of Representative Eric Swalwell (D-CA) is turning into a cautionary tale as his former supporter, billionaire Stephen Cloobeck, distances himself from the embattled congressman amid serious allegations. Cloobeck, a prominent figure known for his previous backing of Swalwell’s gubernatorial campaign, is now demanding that Swalwell return the million dollars he donated, following accusations of sexual misconduct against the congressman by multiple women.
Once seen as a devoted ally, Cloobeck had a close relationship with Swalwell. He referred to the congressman as his “little brother” in a March 2026 interview, showing a level of trust and connection. However, as the situation worsened, Cloobeck’s support has shifted dramatically. He made headlines with his blunt remarks, stating, “I am no longer supporting Eric,” marking a clear break from the Democratic Party and the congressman himself.
In a striking declaration, Cloobeck proclaimed his new political stance, declaring himself a libertarian. His frustration with the Democratic Party is palpable as he urges others to recognize his shift, saying, “F*ck you, Democrat Party. I’m a libertarian now.” This public pivot from Cloobeck suggests disillusionment not only with Swalwell but with broader party dynamics. The fallout stems from a video released by Swalwell, recorded in Cloobeck’s luxurious Beverly Hills mansion, where he aimed to defend himself against burgeoning sexual assault allegations.
As four women stepped forward to disclose their troubling experiences involving Swalwell, the political landscape has shifted. A significant call for action has emerged, highlighted by a group of 50 former Swalwell staffers demanding his resignation. The pressure intensified with the Manhattan District Attorney’s Office opening an investigation into these accusations, including incidents alleged to have occurred during a gala in New York. House Democratic leadership is also urging Swalwell to step back from his campaign, reinforcing the seriousness of the situation.
In the wake of these developments, Swalwell announced that he would suspend his gubernatorial campaign and issued an apology for his “mistakes in judgment.” Despite this, Swalwell maintains his innocence, claiming, “I will fight the serious, false allegations that have been made.” It’s a complicated stance as he walks the fine line between defending himself and navigating the fallout from these serious accusations.
Cloobeck’s previous generosity was apparent when he hosted Swalwell in his 9,700 square foot mansion, aiming to help the congressman launch his political aspirations. “I built a gorgeous place, my dream home, I relish it, and I’m a very generous man,” Cloobeck stated, emphasizing his kind nature. Yet, that kindness has now turned to outrage, as he cannot reconcile his initial support with the troubling charges swirling around Swalwell.
Cloobeck’s abrupt shift in loyalty reflects broader concerns within the Democratic Party regarding their representatives’ accountability and behavior. As the investigation continues, the ramifications for Swalwell’s political career and personal reputation could be severe. This saga serves as a stark reminder of the complexities surrounding accountability in politics and the fragility of political alliances.
The exit of Cloobeck from the Swalwell orbit marks a significant twist in this unfolding narrative. It raises questions about support, loyalty, and the implications of serious allegations in political fundraising and campaigning. Swalwell’s future now hangs in the balance, closely tied to the outcomes of these investigations and the evolving response from his party and supporters.
"*" indicates required fields
