Harris’ wealthy donors are pushing to oust FTC Chair Lina Khan, sources say

Some of Vice President Kamala Harris’ wealthier donors are informally asking for Lina Khan, the FTC chairwoman, to replace her, Bloomberg reports. That’s not surprising: Her broad definition of antitrust enforcement has infuriated countless industries, and major corporations have opposed her nomination from the start.

Khan’s FTC, which has opposed mergers that would have been allowed by previous FTC chairs, has had mixed success. But her appointment by President Biden in 2021 was clearly a challenge to long-standing doctrines that have allowed megacorporations, including “Big Tech,” to consolidate power. She went so far as to call them “mafia bosses” in a recent interview with TechCrunch.

Donor pressure may be unwarranted, given that Khan’s term ends at the end of this month. While she will remain in her post until the agency’s next chief is named, it is likely to extend her term by months, not years.

Meanwhile, donors have also reportedly expressed dislike for SEC Chairman Gary Gensler, whose term ends in June 2026.