Billionaire Democratic Donors Hope to Replace FTC Chair Khan if Harris Becomes President

Title: Billionaire Democratic Donors Barry Diller and Reid Hoffman Hope to Replace FTC Chair Lina Khan if Kamala Harris Becomes President

In a surprising turn of events, billionaire Democratic donors Barry Diller and Reid Hoffman have publicly voiced their hope that Kamala Harris will replace Federal Trade Commission Chair Lina Khan if she becomes U.S. president. This stance openly rejects a key pillar of President Joe Biden’s antitrust policy.

Khan has been instrumental in the Biden administration’s efforts to use U.S. antitrust law to promote competition and address issues like high prices and low wages. Her leadership, including overseeing the FTC’s ban on noncompete agreements, has garnered both praise and criticism from various quarters.

Diller, chairman of travel site Expedia, and Hoffman, the co-founder of LinkedIn, have both expressed their dissatisfaction with Khan’s approach to business and have indicated their support for her potential replacement under a Harris administration. Diller even mentioned that he plans to donate the maximum amount allowed to Harris’ campaign and lobby for Khan’s removal, citing her stance against business growth.

However, not everyone shares the same sentiment. Prominent Democratic senators like Bernie Sanders and Elizabeth Warren have come out in support of Khan, highlighting her efforts to protect consumers, workers, and entrepreneurs from illegal conduct and corporate abuse.

The debate surrounding Khan’s future at the FTC reflects broader tensions within the Democratic Party on how best to address antitrust issues and regulate big business. As the discussions continue, it remains to be seen how this will impact future antitrust policy decisions in the U.S.

Overall, the public statements by Diller and Hoffman regarding Khan’s potential replacement add an intriguing layer to the ongoing conversation on antitrust regulation and political influence in the business world.

(Reporting by Jody Godoy in New York, Editing by Rosalba O’Brien)