California billionaire swaps party affiliation to ‘Libertarian-Republican’ after Eric Swalwell fallout

Published April 14, 2026 12:00pm ET



California billionaire Stephen Cloobeck said he’s “no longer a Democrat” after withdrawing his support for Rep. Eric Swalwell’s (D-CA) bid for governor.

Swalwell’s political career has come to an abrupt end due to sexual misconduct allegations from multiple women, prompting him to suspend his run for governor and announce his resignation from Congress. Cloobeck, who endorsed Swalwell after dropping his own bid for governor in November, said he’s known the lawmaker “for the longest time,” but he is “blown away” by the allegations and that “there’s no way I would’ve endorsed him.”

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.