Druckenmiller on attacking big tech: ‘Way to think about the future President Trump, just genius’

Finance news

Stanley Druckenmiller

Katie Kramer | CNBC

Billionaire investor Stanley Druckenmiller went after President Donald Trump and lawmakers on Friday for attacking big technology companies.

“We are attacking our companies that are the leaders in this stuff. But man, it’s great. We’re supporting our steel industry, our coal industry, [and] our aluminum industry. Way to think about the future, President Trump, just genius,” Druckenmiller said sarcastically on CNBC’s “Squawk Box. ”

Trump has criticized big tech companies like Facebook, Amazon and Alphabet for what he calls their bias against him and other Republicans. Shares of these companies took a hit this week as multiple reports said government authorities are working on antitrust probes and business-practice investigations targeting them.

Druckenmiller said earlier this week he went “flat” in his portfolio after President Donald Trump’s tweets no China trade back in May. “Not because I’m trying to make money, I just I don’t want to play in this environment.”

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