Robert Mercer

Computer

Birthday July 11, 1948

Birth Sign Cancer

Birthplace San Jose, California, U.S.G

Age 75 years old

Nationality United States

#29642 Most Popular

1946

Robert Leroy Mercer (born July 11, 1946) is an American hedge fund manager, computer scientist, and political donor.

Mercer was an early artificial intelligence researcher and developer and is the former co-CEO of the hedge fund company Renaissance Technologies.

Mercer played a key role campaign for the United Kingdom to leave the European Union by donating data analytics services to Nigel Farage.

1964

He developed an early interest in computers and in 1964 attended a National Youth Science Camp in West Virginia where he learned to program a donated IBM computer.

He went on to get a bachelor's degree in physics and mathematics from the University of New Mexico.

While working on his degree he had a job at the Air Force Weapons Laboratory at Kirtland Air Force Base writing programs where, though he felt he produced good work, he felt it was not optimized.

He later said the experience left him with a "jaundiced view" of government-funded research.

1972

He earned a Ph.D. in computer science from the University of Illinois at Urbana–Champaign in 1972.

Mercer joined IBM Research in the fall of 1972 and worked at the Thomas J. Watson Research Center in Yorktown, New York, where he helped develop Brown clustering, a statistical machine translation technique, as part of a speech recognition and translation research program led by Frederick Jelinek and Lalit Bahl.

1989

Renaissance's main fund, Medallion, earned 39% per year on average from 1989 to 2006.

1993

In 1993, Mercer joined hedge fund Renaissance Technologies after being recruited by executive Nick Patterson.

The founder of Renaissance, James Harris Simons, a mathematician, preferred to hire mathematicians, computer scientists, and physicists rather than business school students or financial analysts.

2006

Since 2006, Mercer has donated about $34.9 million to Republican political campaigns in the US.

Mercer has given $750,000 to the Club for Growth, $2 million to American Crossroads, and $2.5 million to Freedom Partners Action Fund.

2009

Mercer and a former colleague from IBM, Peter Brown, became co-CEOs of Renaissance when Simons retired in 2009.

2010

In 2010, he financially supported fringe biochemist Art Robinson's unsuccessful efforts to unseat Peter DeFazio in Oregon's 4th congressional district.

Mercer joined the Koch brothers’ conservative political donor network after the 2010 Citizens United v. FEC, but Mercer and his daughter, Rebekah Mercer, decided to establish their own political foundation.

The Mercer Family Foundation, run by Rebekah, has donated to a variety of conservative causes.

Mercer has donated to The Heritage Foundation, the Cato Institute, the Media Research Center, Reclaim New York, GAI, and Citizens for Self-Governance.

2013

In the 2013-2014 election cycle, Mercer donated the fourth largest amount of money among individual donors and the second most among Republican donors.

In 2013, Mercer was shown data by former Jimmy Carter pollster Patrick Caddell, who has been critical of top Democrats, and commissioned more research from Caddell that showed "voters were becoming alienated from both political parties and mainstream candidates".

2014

In June 2014, Mercer received the Association for Computational Linguistics Lifetime Achievement Award for this work.

A bipartisan Senate panel estimated in 2014 that Medallion investors underpaid their taxes by some $6.8 billion over more than a decade by masking short-term gains as long-term returns.

As of 2014, Renaissance managed $25 billion in assets.

2015

In 2015, The Washington Post called Mercer one of the ten most influential billionaires in politics.

Mercer was the main financial backer of the Jackson Hole Summit, a "shadow" conference (not to be confused with a similarly named Federal Reserve conference) that took place in Wyoming in August 2015 to advocate for the gold standard.

He has also supported Doctors for Disaster Preparedness, Fred Kelly Grant (an Idaho activist who encourages legal challenges to environmental laws), a campaign for the death penalty in Nebraska, and funded ads in New York critical of the so-called "ground-zero mosque".

According to associates interviewed by Bloomberg, Mercer is concerned with the monetary and banking systems of the United States, which he believes are in danger from government meddling.

Mercer is a major source of funds of Breitbart News.

He gave at least $10 million to the media outlet, according to Newsweek.

In 2015 Mercer also gave $400,000 to Black Americans for a Better Future, a conservative think tank led by Raynard Jackson.

2016

He has also been a major funder of organizations supporting right-wing political causes in the United States, such as Breitbart News, the now-defunct Cambridge Analytica, and Donald Trump's 2016 campaign for president.

He is the principal benefactor of the Make America Number 1 super PAC.

2017

In November 2017, Mercer announced he would step down from Renaissance Technologies and sell his stake in Breitbart News to his daughters.

In November 2017, Mercer announced that he would be stepping down from his position at Renaissance Technologies.

The decision was taken after the hedge fund faced a backlash over Mercer's political activism.

Mercer appears in the Paradise Papers as a director of eight Bermuda companies, some of which appear to have been used to legally avoid US taxes.

2018

He was the majority owner of SCL Group, a self-described "global elections management agency", before it was dissolved in 2018.

In 2021, Mercer was involved in possibly the largest tax settlement in U.S. history, as he, James Simons, and other executives at the hedge fund Renaissance Technologies were ordered to pay as much as $7 billion to the IRS in back taxes.

Mercer grew up in New Mexico.