Two Billionaire Harris Donors Want Her to Fire FTC Chair Lina Khan

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A pair of billionaire supporters Vice President Harris said in interviews last week that she should consider firing Lina Khan, the chairwoman of the Federal Trade Commission (FTC), for her attempts to oppose corporate mergers and acquisitions.

Khan has led the Biden administration’s effort to use antitrust law to scrutinize mergers to see if they affect prices paid by consumers and whether workers face layoffs.

The Federal Trade Commission sued her to block a series of high-profile mergers and acquisitions made during her tenure, angering some in the business community for actions they say limit companies’ ability to grow.

Reid Hoffman, the billionaire co-founder of LinkedIn, told CNN last week that “Lina Khan is… someone who is not helping America,” Hoffman said. told CNN. “I hope Vice President Harris replaces her.”

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A pair of billionaire Democratic donors are calling on Vice President Harris to fire FTC Chair Lina Khan if she wins the presidential election. (Photo by Drew Angerer/Getty Images/Getty Images)

He added that Khan was acting “outside the scope” of her office’s authority and said: “Antitrust law is fine… Waging war is not.”

Hoffman, Democratic megadonor who quickly endorsed Harris as the party’s presidential candidate following President Biden’s decision to drop out of the race, told the outlet that he did not directly pressure Harris to remove Khan from power.

He also noted that former President Trump’s vice presidential nominee, Senator J.D. Vance, a Republican from Ohio, has expressed support for Khan’s criticism of big business.

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Both Hoffman and Diller said they believe Vice President Harris should replace Lina Khan as FTC chairwoman if she wins the election. (Al Drago/Bloomberg via Getty Images/Getty Images)

Hoffman’s LinkedIn profile was taken over by Microsoft for $26 billion in 2016 under a deal that the FTC reviewed but ultimately approved.

He is currently a board member at Microsoft, which challenged its $69 billion takeover of the gaming company. Activision Blizzard, that deal ultimately came to fruition after a court dismissed the FTC’s complaint, though the agency is considering an appeal.

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FTC Chairwoman Lina Khan in a blue jacket

FTC Chairwoman Lina Khan has faced criticism for her agency’s aggressive approach to blocking mergers and acquisitions. (Photo: Chip Somodevilla/Getty Images/Getty Images)

Barry Diller, CEO of IAC and Expedia, was asked in an interview, interview with CNBC if he joined others in lobbying Harris to replace Khan as FTC leader and replied, “Yes, I would. I think she’s an idiot.”

Diller said he would “give the maximum amount” to Harris’ campaign and suggested that other donors who are concerned about Biden running for another term might support the vice president, as he did.

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The FTC did not immediately respond to a request for comment.

Last week, FTC spokesman Douglas Farrar told Reuters: “Chairwoman Khan is honored to serve in the Biden Harris Administration, where she has protected consumers, workers, and businesses from illegal conduct and corporate abuses.”

Reuters contributed to this report.