In a dramatic turn of events that has sent shockwaves through the California political landscape, billionaire businessman Stephen Cloobeck has announced that Stephen Cloobeck cuts ties with Eric Swalwell, the Bay Area congressman and former candidate for governor. The split, which occurred on Sunday, April 12, 2026, was not merely a withdrawal of political support but a complete severance of personal and financial associations, including the immediate eviction of the congressman from Cloobeck’s Beverly Hills estate.
The collapse of the relationship comes in the wake of severe allegations of sexual misconduct leveled against Rep. Swalwell. The fallout has been swift and devastating, leading the congressman to suspend his campaign for the California governor’s race and leaving him facing potential expulsion from Congress and a criminal investigation. Cloobeck, a timeshare mogul who had been a prominent benefactor, expressed deep disturbance over the claims, citing a personal commitment to integrity and ethics.
The public nature of the breakup has been marked by Cloobeck’s aggressive renunciation of the Democratic Party. In an exclusive interview, Cloobeck declared himself a libertarian, signaling a sharp ideological pivot following the revelations regarding the congressman’s conduct. This high-profile divorce underscores the volatility of the current political climate in California as the gubernatorial race continues to shift.
Sexual Misconduct Allegations and Campaign Collapse
The catalyst for the sudden rupture was a series of public allegations made on Friday, April 10, 2026, involving rape, sexual assault, and other forms of sexual misconduct. According to reports, at least four women have accused the congressman of misconduct NBC Los Angeles.
Among the accusers is a former aide who alleged that Rep. Swalwell sexually assaulted her on two separate occasions while she was intoxicated. While the congressman has denied the allegations, the weight of the accusations led him to announce the suspension of his campaign on Sunday. In his statement, Swalwell apologized for “mistakes in judgment” made in his past, asserting that the fight to clear his name is a personal battle rather than one for his campaign to fight.
The fallout has extended beyond his gubernatorial ambitions. The congressman is now the subject of a criminal investigation and faces the possibility of expulsion from the U.S. House of Representatives as the legal and ethical implications of the claims are scrutinized.
The Beverly Hills Eviction and Denial Video
The personal nature of the fallout became evident through the details of Swalwell’s living arrangements. Prior to the split, the congressman had been staying at Cloobeck’s palatial residence in Beverly Hills. In a move that highlighted the severity of the breach, Cloobeck revealed that he has since kicked Swalwell out of his mansion Latest York Post.
Adding a layer of irony to the timeline, Rep. Swalwell had filmed a video denying the allegations from inside Cloobeck’s home on Friday, shortly before the billionaire decided to terminate their relationship. Cloobeck described himself as a “generous” and “thoughtful” man who welcomes many guests to his dream home, but maintained that the current circumstances made continued support impossible.
The situation was further complicated by mentions of Cloobeck’s fiancée, who has been described in reports as an “alleged honeytrapper” accused of burglarizing the homes of wealthy men in Los Angeles New York Post.
Financial Repercussions and Political Pivot
The financial stakes of this separation are significant. Cloobeck had invested heavily in Swalwell’s political future, spending more than $1 million to support the congressman’s candidacy through an independent committee New York Post.
Following the eviction and the suspension of the campaign, Cloobeck stated that he would be consulting with his attorney to determine if it is possible to “claw back” the funds provided to the committee. This potential legal battle over campaign contributions adds another layer of complexity to the congressman’s already cratering political career.
Beyond the money, the split has triggered a dramatic shift in Cloobeck’s own political identity. The billionaire, previously aligned with the left, expressed profound anger toward the Democratic Party. “F—ing tell everyone I’m a libertarian. F— you, Democrat Party. I’m a libertarian now,” Cloobeck told the press, marking a total renunciation of his former political affiliations.
Key Takeaways of the Cloobeck-Swalwell Split
- Immediate Severance: Stephen Cloobeck has ended all financial and personal support for Rep. Eric Swalwell, including evicting him from his Beverly Hills home.
- Serious Allegations: The split follows accusations of sexual assault and misconduct from at least four women, including a former aide.
- Political Fallout: Rep. Swalwell has suspended his campaign for Governor of California and faces a criminal investigation and potential congressional expulsion.
- Financial Dispute: Cloobeck is exploring legal avenues to recover over $1 million in contributions made to an independent committee supporting Swalwell.
- Ideological Shift: Cloobeck has officially renounced the Democratic Party, declaring himself a libertarian.
As the investigation into the allegations continues, the focus now shifts to the legal proceedings and the potential actions of the House of Representatives. The next confirmed checkpoints will be the progress of the criminal investigation and any formal motions filed regarding the congressman’s status in Congress.
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