Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Bannon speaks at a rally in Arizona. Photo: Ross D. Franklin / AP

In a Friday night phone call, President Trump's former chief strategist and enforcer Steve Bannon told Trump he was going "off the chain" to destroy Paul Singer, a New York hedge fund billionaire who is one of the most influential donors to the Republican Party.

Trump agreed with Bannon that it needed to be done, according to two sources familiar with the conversation. (Though I'm also told that Trump has since told at least one other person that Singer is "on the team" — suggesting that maybe he's telling everyone what they want to hear.)

A cautionary note for those wanting to oppose Singer: A source familiar with the arrangements told me that Singer has already made a "major commitment" and cut substantial checks to outside groups to support the president's tax reform push.

Why this matters: Bannon spoke to Trump shortly after the New York Times broke the news that a Singer-funded conservative website first paid for anti-Trump research by the firm, Fusion GPS, that later produced the infamous Russia dossier. The dossier alleges that the Trump campaign conspired with the Russian government to influence the 2016 presidential election. It also contains unsubstantiated sexual allegations.

  • A source close to Singer said the billionaire had no idea who Fusion GPS was until they became a subject of news reports related to Trump and Russia. Though the source added that of course Singer generally knew — and it was public knowledge — that the website he funds, the Washington Free Beacon, paid for opposition research.
  • Free Beacon editors told the NYT the outlet had nothing to do with the dossier that the Clinton campaign funded.
  • Since the story broke, the president has told several people he views the NYT revelations as a "win" for Republicans because they show that only Democrats and the Clinton campaign paid for the controversial dossier, produced by former British intelligence officer Christopher Steele.
  • Trump's tweets this morning reinforce that message: "Never seen such Republican ANGER & UNITY as I have concerning the lack of investigation on Clinton made Fake Dossier..."

In their Friday phone call, Bannon told Trump he had been looking for a long time "to set things right with Singer and his entire crew," according to a source familiar with the conversation.Since the NYT story broke, Bannon's right-wing media outlet, Breitbart News, has been relentlessly attacking Singer and calling on politicians who've taken money from him to return the donations.Background: Trump loathed Singer during the campaign, when the billionaire was a lead financier of the "Never Trump" movement. But the two made up earlier this year, and Singer has been financially very helpful since Trump won the presidency. He donated $1 million to Trump's inauguration and has supported various administration efforts including funding the successful outside campaign to back the confirmation of Neil Gorsuch to the Supreme Court.Bottom line: Bannon has long despised Singer. In Bannon's worldview, Singer belongs to a "globalist" cabal that favors open borders and includes other bogeymen and bogeywomen such as George Soros and Hillary Clinton. It's also helpful to Bannon that Singer has close ties Mitch McConnell — the Senate GOP leader whom Bannon is obsessed with destroying.Based on my reporting so far, however, I'd be surprised if Trump publicly joins the fight against one of the most important donors in Republican politics.

Go deeper

Dave Lawler, author of World
Updated 1 min ago - World

Xi Jinping warns against "new cold war" in Davos speech

Chinese President Xi Jinping. Photo: Wang Zhao - Pool/Getty Images

Chinese President Xi Jinping warned that a "new cold war" could turn hot, and must be avoided, in a speech on Monday at World Economic Forum’s virtual “Davos Agenda” conference.

Why it matters: Xi didn't refer directly to U.S.-China tensions, but the subtext was clear. These were his first remarks to an international audience since the inauguration of President Biden, whose administration has already concurred with Donald Trump's determination that China is committing "genocide" against Uyghur Muslims, and issued a warning about China's aggression toward Taiwan.

Updated 53 mins ago - Politics & Policy

Dominion files $1.3 billion defamation lawsuit against Rudy Giuliani

Photo: Rey Del Rio/Getty Images

Dominion Voting Systems filed a defamation lawsuit against Rudy Giuliani on Monday seeking $1.3 billion in damages for his "demonstrably false” allegations about the company's voting machines.

Why it matters: Giuliani led former President Trump's efforts to overturn the results of the election and spread the baseless conspiracy theory that Dominion's voting machines flipped votes from Trump to Joe Biden.

Mike Lindell moves the goalposts on a run for Minnesota governor

MyPillow CEO Mike Lindell waits outside the West Wing of the White House before entering on Jan. 15. Photo: Drew Angerer/Getty Images

The will-he-or-won't-he speculation surrounding a possible gubernatorial run by MyPillow CEO Mike Lindell is destined to continue at least a bit longer.

What he's saying: Lindell told Axios that his focus is currently on proving his (baseless) claims of election fraud. He won't make a decision until that fight is resolved.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!