Wisconsin Gov. Scott Walker (R) met with billionaire hedge-fund manager Dan Loeb on Wednesday, Business Insider has learned.
Walker was seeking Loeb’s key financial support ahead of his all-but-certain presidential campaign, but he didn’t get it. According to sources close to the situation, the sticking point was Loeb’s support of same-sex marriage.
Last month, Walker called the Supreme Court’s decision to legalise same-sex marriage nationwide a “grave mistake.” He also called for a constitutional amendment to reverse the decision.
“As a result of this decision, the only alternative left for the American people is to support an amendment to the U.S. Constitution to reaffirm the ability of the states to continue to define marriage,” Walker said.
Deep-pocketed Wall Streeters have been vocal about the fact that they’re no longer interested in supporting socially conservative candidates this go-round. They have traded in their social values for conservative fiscal policies over the last few election cycles, and it hasn’t gotten them anywhere.
They’re tired of making that losing trade.
“I tend to be more Republican in my views, but socially very liberal. I’m going to have trouble with any Republican that does not disavow a fixation with social issues,” billionaire investor Leon Cooperman said in a recent interview with Wall Street Week.
“Republicans have to understand that, because young people in our country are not grabbed by those issues.”
What all this means is that Loeb’s money is still up for grabs. Back in 2011, Loeb said he would back Christie for president because “you never have a question about where he stands on anything.”
But Loeb was radio silent when Christie announced his candidacy for president last week.
So he could be looking at anyone. Maybe he’ll follow fellow billionaire David Tepper of Appaloosa Management into the camp of former Florida Gov. Jeb Bush (R).
That seems to be where a lot of Christie defectors are going these days.
A spokeswoman for Walker did not immediately respond to our request for comment on this story.