'A parent chiding an ungrateful child': Billionaire Leon Cooperman steps up wealth-tax spat with democratic candidate Elizabeth Warren
- Hedge fund billionaire Leon Cooperman sent a five-page letter to democratic candidate Elizabeth Warren in response to a tweet saying the wealthy investor should pitch in more to help others.
- Cooperman wrote that Warren's tweet showed she has a "fundamental misunderstanding" of who he is, and it was as if she was "a parent chiding an ungrateful child."
- Warren's tweet was addressing a comment Cooperman made in a Politico story that said she was "s---ting" on the American dream with her wealth tax proposal.
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Leon Cooperman is stepping up his spat with democratic candidate Elizabeth Warren.
The hedge fund billionaire on Thursday sent a five-page letter to the senator in response to a tweet she posted on October 23 saying: "Leon, you were able to succeed because of the opportunities this country gave you. Now why don't you pitch in a bit more so everyone else has a chance at the American dream, too?"
Cooperman wrote that Warren's tweet showed she has a "fundamental misunderstanding" of who he is and what he stands for.
"You proceeded to admonish me (as if a parent chiding an ungrateful child)," he said in the letter. "However much it resonates with your base, your vilification of the rich is misguided, ignoring, among other things, the sources of their wealth and the substantial contributions to society which they already, unprompted by you, make."
The investor's letter laid out his support for the "American Dream" and mentioned several other "self-made billionaires" including Home Depot co-founder Ken Langone and activist investor Carl Icahn.
It also highlighted the charitable initiatives Cooperman is involved in, including providing scholarships for college students and subscribing to Warren Buffett and Bill Gates' Giving Pledge.
Cooperman went into great detail debating Warren's positions on economic and tax policy.
Warren's tweet was addressing a comment Cooperman made in a Politico story that said she was "s---ting" on the American Dream with her wealth tax proposal.
Cooperman has said in the past that the stock market would tank 25% if Warren or Bernie Sanders were elected president, citing their policies of taxing the ultra-rich.
At the end of the letter, Cooperman did extend a bit of an olive branch to Warren.
"I am a registered Independent who votes the issues and the person, not the party," he said. "The fact is, Senator Warren, that despite our philosophical differences, we should be working together to find common ground in this vital conversation - not firing off snarky tweets that stir your base at the expense of accuracy."