Hedge fund billionaire Robert Mercer, a major Republican donor to the Trump campaign announced Thursday that he is selling his stake in Breitbart News to his daughters; pulling all of his funding from Milo Inc., the new controversial entertainment venture run by Milo Yiannopoulos, and is also relinquishing his co-CEO title at Renaissance Technologies for a non-management role. Vanity Fair writes:

In an open letter to investors, the 71-year-old strongly denounced the white nationalist movement that has come to be associated with several of his far-right political causes, tainting his reputation and putting Renaissance Technologies in the crosshairs of a divestment campaign. “Of the many mischaracterizations made of me by the press, the most repugnant to me, have been the intimations that I am a white supremacist or a member of some other noxious group,” he wrote. On the contrary, he said, “a society founded on the basis of the individual freedom that flourishes under a limited federal government has no place for discrimination . . . Discrimination on the basis of race, ethnicity, gender, creed, or anything of that sort is abhorrent to me. But more than that, it is ignorant.”

Mercer acknowledged his relationship with Steve Bannon, saying that he respected Bannon but also disagreed with him on political alliances. But it was Yiannopoulos, writes VF, that received condemnation for his neo-Nazis views.

“[I]n my opinion, actions of and statements by Mr. Yiannopoulos have caused pain and divisiveness undermining the open and productive discourse that I had hoped to facilitate. I was mistaken to have supported him, and for several weeks have been in the process of severing all ties with him.”

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