Scaramucci Admits His 10-Day Political Career Cost Him Billions In AUM
Anthony Scaramucci said his brief stint in the Trump White House "cost me a lot," and there's a "less than zero" percent chance he'll ever return to politics. Instead, the 54-year-old hedge fund impresario is taking his ball and going back into finance, he told Bloomberg Television in a 25-minute interview.
"I'm not really great at the Washington scene," said Scaramucci. "Having experienced that now has made me a lot wiser, but it's also made me appreciate where I was and who I really am — which is an entrepreneur and money manager focused on growing people's money."
Scaramucci admits that his short-lived role as White House communications director cost him around $1.7 billion in client withdrawals from SkyBridge Capital, which he expects to make up within two years "with good performance." The Mooch is also looking to double his assets under management (AUM) to $20 billion.
Within five years, he said he sees the $10 billion SkyBridge doubling through new products, market appreciation, and wider distribution of the firm's flagship product. SkyBridge is currently raising money outside the U.S., from investors in South Korea, China, Japan and the Middle East, he said.
After a deal to sell SkyBridge to Chinese conglomerate HNA Group fell through earlier this year, the two firms signed an agreement in which HNA will distribute SkyBridge products in mainland China and Hong Kong, and SkyBridge is in the process of opening an office in the region, most likely in Hong Kong, he said.
"I think it'll be important for players like SkyBridge to be in China, where believe it or not, fund-of-funds is actually a pretty hot product," he said. "They like the idea of being able to put small minimums — like SkyBridge's minimum are $25,000 to $50,000, so it's perfect for the mass affluent market out there."
The Mooch almost lost his marriage when his wife filed for divorce in July of last year, however the two called it off in November.
Scaramucci was memorably fired by White House Chief of Staff John Kelly just 10 days after accepting the communications director job after delivering an expletive laden interview he says he thought was off the record to New Yorker reporter Ryan Lizza (who was subsequently fired from the magazine over allegations of sexual harassment).
Following a leak about Trump's dinner plans was tweeted by Lizza, an angry Scaramucci called to try and find out who his source was – dropping copious F-bombs, making jokes about murdering leakers, and referring to Steve Bannon in not-so kind terms.
Much to The Mooch's chagrin, the profanity-laced conversation was taped – which Lizza promptly turned into a profanity-laced New Yorker article which would ultimately cost Mooch the dream job that he sold out of his hedge fund to take. Lizza's article includes such gems as "I'm not Steve Bannon, I'm not trying to suck my own cock," and "What I want to do is I want to fucking kill all the leakers and I want to get the President's agenda on track so we can succeed for the American people."
Two days later – and a half hour or so after Reince Priebus was pushed out of his post as Chief-of-Staff and replaced by John Kelly, the New York Post ran an article stating that Scaramucci's wife was divorcing him because she hates Trump.
Two days after that – and following an effort by Bannon to undermine Scaramucci by convincing the evangelical Freedom Caucus to complain to Trump over the profanity-laced Lizza phone call, John Kelly called The Mooch into his office and fired him, to which Scaramucci replied "Wow, that's super disappointing."
In February, Scaramucci unleashed on former West Wing Trump advisors Reince Priebus and Steve Bannon in an incredibly candid and revealing Vannity Fair article – while noting that that his firing at the hand of Kelly did not leak to the press. Moreover, Kelly even allowed Scaramucci to leave the White House through the East Wing exit near the Treasury to avoid cameras.
Priebus also discussed his experience with former White House chief-of-staff Reince Priebus, whom he referred to as "Rancid Penis" – and a Jamoke (described in the Urban Dictionary as a "clumsy loser who is incapable of doing normal human tasks.")
"Rancid Penis, you know, he just cannot believe this. He's just very jealous, can't believe I'm this close to Trump. Priebus had the society broken up into "Always Trumpers" and "Never Trumpers," and he was trying to flood the White House staff, as the chief of staff, with "Never Trumpers," and trying to figure out ways to blockade, slow down, and keep out, particularly of the White House, the "Trumper-Trumpers."
Scaramucci says Priebus had it out for him – and reportedly enlisted Steve Bannon – another Jamoke – to help.
"Then he goes to [Steve] Bannon [then Trump's chief strategist] and he says, I'm gonna get you on the National Security Council if that's where you want to go, but you've got to join forces with me and take out Scaramucci. –Vanity Fair
Scaramucci says he was shocked at Bannon's betrayal. "I helped Bannon through the three months that he was on the campaign, and we had a good relationship. But Bannon turns on me, because Bannon is ultimately railing against the swamp, but he's actually a cock of the swamp."
He's the creature from the Black Lagoon, Bannon. He acts more swamp-like than any person that's ever become a Washingtonian. So for all of his railing on the swamp, he is literally the pig in George Orwell's Animal Farm that stands on his two legs the minute he gets power. He is the creature from the Black Lagoon. –Vanity Fair
Bannon and Priebus eventually recommended Scaramucci to the role of US ambassador to the Organization for Economic Cooperation and Development, in Paris – a position which included a 17-room apartment in Paris to move to with his family. However since that would require a lengthy Senate approval, so in the meantime Priebus found Scaramucci a desk job at the Export-Import bank in Washington.
As Scaramucci told Vanity Fair about what he learned during his very brief stint in the White House:
"You want to talk about the education of Anthony Scaramucci? I learned that the swamp is probably a gold-plated cesspool with no drain. You understand what I'm saying? You can't drain the fucking thing. It's a gold-plated cesspool, and you got cesspool operators in there that know how to slow down disruptors like Donald Trump."
Watch the full Bloomberg interview here:
Previous Previous post: Employers Start Using AI To Set Raises Based On "Predicted" Performance
Next Next post: "FBI Lovebird" Lisa Page To Face Congressional Grilling On Wednesday
Selected Articles: FOIA Docs Reveal Pfizer Shot Caused Avalanche of Miscarriages, Stillborn Babies
Peeking Past the Pall Put Over Arms Talks with Russia
Why Do NATO States Commit "Energy Hara Kiri"? Green Zero Carbon Madness. Industrial Collapse?