Billionaire hedge fund investor John Paulson says he will pull his money out of the market if Kamala Harris wins the election

Billionaire hedge fund manager John Paulson has threatened to withdraw his money from U.S. markets if Vice President Kamala Harris defeats former President Donald Trump in November's presidential election.

The founder of Paulson & Co. – also a major Trump donor – made the shocking revelation during his appearance on Fox Business' “The Claman Countdown” on Tuesday.

“It depends on the policy. If Harris is elected, I would pull my money out of the market,” Paulson said. “I would put my money in cash and in gold because I think the uncertainty about the plans they outlined would create a lot of uncertainty in the markets and probably lower prices.”

Paulson pointed to measures proposed by Harris' campaign team that would focus on more centralized price controls and new government spending programs.

Economists have estimated the cost of the plans at over $1.7 trillion.

The future of the American stock market and the American economy depends on the winner of the parliamentary elections on November 5, stressed the 64-year-old investor.

“It depends a lot on who is in the White House and who controls Congress,” Paulson said. “I would be very concerned if Harris were elected and implemented the tax plans and other economic plans that she has formulated.”

“If they imposed a 25 percent tax on unrealized gains, it would cause mass selling of almost everything – stocks, bonds, houses, art. I think that would cause a stock market crash and a pretty quick recession.

Paulson, known for his lucrative bet against the subprime mortgage market in 2007, backed up his threat by confirming that he would sell his liquid stocks if the current vice president won the November 5 election.

The hedge fund manager hosted a fundraiser for the Trump campaign in Palm Beach, Florida, in April that raised over $50 million, breaking the record for a single event.

Although major Republican donors attended the record-breaking event, Paulson is convinced that the middle class will be the deciding factor in the 2024 presidential election.

“I think the middle class is key in this election,” Paulson said. “And who is going to do better for the middle class? When you look at the facts, Trump's policies have worked out better for the average American.”

“Under his four years in office, average real wages rose by about 6.5 percent,” he claimed. “Under Biden, real wages have fallen compared to when he took office due to high inflation.”

“For this reason[class] “Americans are having such great difficulty with everyday expenses like rent and groceries.”

Paulson believes that inflation is declining, but more can be done to combat it.

“The most important thing is to keep costs low. And to do that, we need to reduce the deficit, reduce inflation and lower interest rates.”

House Speaker Mike Johnson criticized Camrade Kamala's economic plan, saying it was like “Oprah (Winfrey) running for president.”

“Candidate 'Comrade Kamala' Harris – as President Trump famously calls her – now wants to take this to a whole new level,” said the House Speaker.

During her first 100 days, in addition to her controversial plan to fix grocery prices, Harris plans to provide $25,000 in federal down payment grants for first-time homebuyers who pay their rent on time for at least two years, as well as for low- and middle-income families having children.

Johnson fired back at the vice president's plans, outlining the Republicans' “very aggressive” program for the first 100 days of their term in office if the Republicans succeed in regaining control of Congress and the White House.

“We will maintain these cuts to support job creation, along with doubling the guaranteed tax credit and a strong child tax credit,” he promised.

“But unlike the Democrats' proposal, we will ensure that our tax policy respects the dignity of work and does not pay people more if they stay away from the workforce.”