Loyal MAGA ally Dave Portnoy has revealed he’d consider ditching Donald Trump for the Democrats if America’s economy doesn’t show major improvements.
Portnoy has been vocal about his financial hits due to the stock market dips brought about by Trump’s controversial tariffs.
The Barstool Sports chief admitted last week that he ‘didn’t understand’ them, but was down a staggering $7million as a result. On Monday morning, Portnoy revealed he’d actually lost close to $20m.
He went on to say that he lost 20 percent of his net worth and slammed Trump for going golfing last weekend in Florida while the country’s economy was in turmoil.
In comments made to CNN before Trump’s announcement that he would be pausing the tariffs for 90 days, which led to Portnoy gaining $8.2m in investments, he said he would not rule out switching over to the Democrats if things don’t improve.
Asked if he’d be willing to abandon Trump and the GOP, Portnoy responded: ‘Yeah, absolutely.
Dave Portnoy would consider ditching Donald Trump if America’s economy doesn’t improve
Portnoy has been vocal about his financial hits due to the stock market dips brought about by Trump’s controversial tariffs
‘I was never some crazy MAGA guy. It’s uncomfortable anytime the stock market is like this and you’re invested in it, it’s certainly uncomfortable. But I stand with it.
‘You know, he ran on tariffs. He said he was a tariff fan. And I don’t pretend to be an economist. I don’t think I realized that we’d have this market crash. I don’t think most people did.’
Portnoy continued: ‘I think he believes in what he’s doing and trying to basically strong-arm China and get better deals for the US. I’m willing to still give him time.
‘I think the big date is the midterms, which is a long time out. But I do think that in this country, the number one issue, no matter what is going on, is the economy. And if the stock market doesn’t show some signs of rebound or rebounding by then, I think people will speak with their vote.’
Trump made a stunning announcement on Wednesday afternoon that his administration would be pausing the tariffs for 90-days, except for China.
Trump reduced the tariff tax to 10 percent for a majority of the US’s trade partners on Wednesday, while he simultaneously increased China’s tax to 125 percent.
Portnoy was quick to change his tune after the pause, sharing a video of himself on X reacting to gaining $8.2 million in investments.
‘I’M UP 8.2 MILLION TODAY! WHERE ARE ALL THE PEOPLE IN MY MENTIONS NOW!’ he wrote alongside a clip of himself dancing.
Portnoy slammed US Secretary of Treasury Scott Bessent for saying that the administration was focusing on ‘Main Street’ and not ‘Wall Street’
‘All these left people “You voted for this,” “Oh he’s crying,” I’m dancing! I said it’s the time to buy. I said “Give him [Trump] some time,” Portnoy said in the clip.
He went on to defend Trump, saying that the president knows what he’s doing and is negotiating with other countries.
‘The stock market is tied in with Main Street, Wall Street, let it eat! Let me eat! And they let me eat, and I’m eating pizza, burgers,’ Portnoy concluded.
Portnoy was also unhappy with Treasury Secretary Scott Bessent’s explanation of the Trump administration’s economic strategy.
Bessent spoke at the American Bankers Association on Tuesday morning and said the administration was focused on ‘Main Street,’ and not ‘Wall Street.’
Portnoy responded to a clip of Bessent speaking on X and fired back at the secretary, ‘Isn’t Bessent worth like hundreds of millions of dollars because of his work on Wall Street hedge funds and s***?’
‘Now that he’s left Wall Street after making infinity money he is saying the stock market is bad? When did he work on Main Street?’ Portnoy added.
