'Mark Cuban Is Wrong': Bernie Sanders Defends Lina Khan as 'Best FTC Chair in Modern History'

After billionaire entrepreneur and investor Mark Cuban this week said publicly that he would get rid of Federal Trade Commission chair Lina Khan if he had the chance, Sen. Bernie Sanders pushed back Tuesday by calling her the best person to hold the powerful regulatory post in a long time.

Speaking at a luncheon event hosted by the health policy news outlet KFF in California, Cuban—the outspoken billionaire known for his appearances on the television show Shark Tank and who has endorsed Democratic Vice President Kamala Harris for president—responded to a question about retaining Khan if Harris won November's election by saying, "If it was me, I wouldn't."

While Khan has been championed by progressives for her aggressive efforts to curb corporate greed and the relentless monopolistic consolidations that have harmed consumers and the broader economy, Cuban criticized her antitrust actions as counterproductive.

"By trying to break up the biggest tech companies, you risk our ability to be the best in artificial intelligence," Cuban claimed, according to reporting by Semafor. "The bigger picture," he added, is that Khan is "hurting more than she's helping."

Following Cuban's reported comments, Sanders—who recently traveled with Khan in Texas to talk with voters about the threat of corporate power and how the working class can better confront it—came to her defense.

"Mark Cuban is wrong," Sanders tweeted Tuesday night in response. "Lina Khan is the best FTC Chair in modern history."

"By taking on corporate greed and illegal monopolies," Sanders continued, the current FTC chair "is doing an exceptional job preventing large corporations from ripping-off consumers and exploiting workers."

Other progressives, including Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Working Families Party national director Maurice Mitchell, also weighed in.

"Let me make this clear," Ocasio-Cortez declared Wednesday, "since billionaires have been trying to play footsie with the ticket: Anyone goes near Lina Khan and there will be an out and out brawl. And that is a promise. She proves this admin fights for working people. It would be terrible leadership to remove her."

Last month, Fortune reported that many "billionaire donors" of Harris' presidential campaign—including Cuban and Barry Diller, chairman of IAC—were lobbying behind the scenes to have Khan replaced if she takes the White House.

In July, Common Dreams noted the backlash many of these same billionaire donors—who also include LinkedIn founder Reid Hoffman and Netflix's Reed Hastings—received for going after Khan.

In an August column, progressive activist Jim Hightower warned about the billionaires within the Democratic coalition who had "knives out" for Khan.

"Khan is the first real antitrust champion America has had in years," wrote Hightower at the time. "But will leading Democrats have the guts and integrity to defend her? Or will the business-as-usual powers be ushered back in?"

In a statement from an unnamed spokesperson released to Semafor, the FTC responded to Cuban's remarks by saying Khan believes "extreme consolidation" of large companies is damaging to U.S. economic progress.

"Chair Khan believes choosing competition over centralized corporate control of markets is the path to letting the best ideas win," the spokesperson said.

Sanders concluded his Tuesday rebuke of Cuban by thanking Khan directly for "what you are doing."

Update: This piece has been updated from its original to include new public comment from Congresswoman Ocasio-Cortez.