Full Breakdown
Stephen Cloobeck Cuts Ties with Eric Swalwell Amid Sexual Misconduct Allegations
4/13/2026, 7:08:03 AM
High-Profile Breakup: Cloobeck and Swalwell
Billionaire Stephen Cloobeck has severed ties with Congressman Eric Swalwell, announcing his decision shortly before Swalwell withdrew from the California gubernatorial race. Cloobeck, who had previously supported Swalwell with over $1 million in contributions and accommodations at his Beverly Hills mansion, expressed his disillusionment with the Democratic Party, stating, “I am no longer supporting Eric... I’m a libertarian now.” This dramatic shift comes in the wake of serious allegations against Swalwell, including sexual assault and misconduct from multiple women.
Allegations Against Swalwell
Swalwell is facing accusations from four women, including a former staffer who alleges that he raped her. The allegations have led to a criminal investigation and calls from prominent Democrats, including Nancy Pelosi, for Swalwell to resign. Cloobeck's decision to distance himself from Swalwell follows these allegations, which have significantly impacted Swalwell's political standing and endorsements. Cloobeck remarked, “I don’t know where these facts are going to end up,” indicating uncertainty about the implications of the allegations.
Cloobeck's Previous Support
Cloobeck had previously referred to Swalwell as his “little brother” and had been a staunch supporter of his political ambitions. His financial backing included a maximum donation of $39,200 to Swalwell’s campaign and a $31,000 trip to France. However, the recent allegations have prompted Cloobeck to reconsider his support, leading to his public declaration of disaffection with the Democratic Party.
Criticism from Cloobeck
In addition to his fallout with Swalwell, Cloobeck criticized fellow billionaire Tom Steyer for his spending in the gubernatorial race, suggesting that Steyer's financial contributions were misguided. Cloobeck's frustrations with the Democratic Party are evident as he stated, “I cannot stand this Democratic Party at all. I am done. Finito.”
Official Statements & Responses
Swalwell has categorically denied the allegations, asserting that they are “flat false” and vowing to fight them vigorously. He acknowledged his past mistakes but emphasized that they are personal matters between him and his family. Meanwhile, the husband of one of Swalwell’s accusers has threatened legal action if Swalwell disparages his wife, further complicating the congressman's situation.
Conflicting Reports & Gaps
While Cloobeck has expressed doubts about Swalwell's truthfulness, he has not definitively stated whether he believes the allegations against the congressman. The ongoing investigation and the political ramifications of these allegations remain uncertain, with Swalwell's future in politics hanging in the balance.
What's Next for Swalwell?
As the investigation unfolds, Swalwell's political career is at a crossroads. His withdrawal from the gubernatorial race marks a significant setback, and the potential for further legal challenges looms. The fallout from these allegations will likely shape the political landscape in California and beyond in the coming months.
