In recent months, Mercer’s personal political projects dragged the notoriously secretive firm into the national spotlight. Mercer and his daughter, Rebekah, are prominent Republican donors and patrons of Stephen Bannon, the chairman of Breitbart News and a driving force behind the populist, nationalist wing of the Republican Party that carried Trump to the White House.
In the Nov. 2 letter, Mercer said “for personal reasons” he has decided to sell his stake in Breitbart News to his daughters. He wrote that he has “great respect” for Bannon but that their views don’t always align.
Mercer also said in the letter that he was “mistaken to have supported” Milo Yiannopoulos, a former Breitbart writer, and is severing ties with him because statements by Yiannopoulos have caused “pain and divisiveness.”