Billionaire Donors Urge Harris to Dismiss FTC Chair Lina Khan

In a recent series of interviews, billionaire supporters of Vice President Kamala Harris have called for her to consider firing Federal Trade Commission (FTC) Chair Lina Khan. Khan has been at the forefront of the Biden administration's antitrust efforts, scrutinizing corporate mergers and acquisitions for their potential impact on consumer prices and employment. Her aggressive stance has led to several high-profile lawsuits aimed at blocking mergers, drawing criticism from some business leaders who argue that her actions hinder corporate growth. Reid Hoffman, co-founder of LinkedIn and a prominent Democratic donor, expressed his discontent with Khan during an interview with CNN, stating, "Lina Khan is… a person who is not helping America." Although Hoffman has not formally urged Harris to remove Khan, he highlighted the growing frustration among business elites regarding her regulatory approach. Notably, Hoffman’s own company was previously acquired by Microsoft, which faced scrutiny from the FTC over its recent $69 billion acquisition of Activision Blizzard. Barry Diller, chairman of IAC and Expedia, echoed Hoffman's sentiments in a CNBC interview, labeling Khan as "a dope" and indicating his willingness to lobby for her replacement. Diller also pledged to contribute significantly to Harris's campaign, suggesting that other anxious donors might rally behind her as well. Meanwhile, the FTC has defended Khan's leadership, emphasizing her commitment to protecting consumers and workers from corporate misconduct.