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In 1999, Byrne launched [[Overstock.com]] after leading two smaller companies. Byrne led Overstock as [[chief executive officer]] for two decades, from 1999 to 2019. In 2002, Byrne took Overstock [[initial public offering|public]] using the [[Dutch auction]] method, which was then novel.<ref name=="wired2014"/> Early in his tenure he attracted public attention for a long-running legal battle against [[short seller]]s and "[[naked short selling]]." He eventually resigned as CEO in August 2019, following revelations that he had been in an intimate relationship with Russian agent (and later politician) [[Maria Butina]].
Byrne then emerged as a leading figure in promoting [[conspiracy theories]], including the "[[Deep state in the United States|Deep State]]" conspiracy theory. In 2020 and 2021, he repeatedly promoted unevidenced claims that [[Donald Trump]] had
Byrne has also been noted for his libertarian views on [[public education]] and [[blockchain]].<ref>{{Cite magazine|url=https://time.com/5660763/overstock-patrick-byrne-jonathan-johnson/|title=Interim Overstock CEO Talks to TIME About Future After Scandal- And Patrick Byrne|first=Tara|last=Law|date=August 24, 2019|magazine=TIME}}</ref><ref name="Kolhatkar"/>
==Early life and education==
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Overstock employees, as well as Byrne's father, believed that Byrne's long-running campaign against short sellers, which began in 2005, distracted him from Overstock's core business.<ref name=Debter/> The company had losses in some years, and modest profits in others.<ref name=Debter/> Byrne's tenure was marked by a series of initiatives that were rolled out with much enthusiasm, but that were later abandoned or had disappointing outcomes. In 2004, Overstock spent several million dollars to establish an online auction platform to compete with [[eBay]], but the project was not successful and shut down in 2011.<ref name=Debter/> The company also launched, and then later closed, projects in real estate, travel booking, and auto sales.<ref name=Debter/> He took an indefinite leave of absence from Overstock.com in April 2016 because of [[Hepatitis C]] complications,<ref name="CNN, 2016">{{cite news|url=https://money.cnn.com/2016/04/11/technology/overstock-ceo-patrick-byrne/|title=Overstock CEO Patrick Byrne takes indefinite leave of absence over Hepatitis C complications|date=April 11, 2016|last=Goldman|first=David|work=[[CNN]]}}</ref> and he returned in July 2016 as CEO after his recovery.<ref name="Internet Retailer, 2016">{{cite news|url=https://www.digitalcommerce360.com/2016/07/27/overstock-founder-patrick-byrne-returns-ceo/|title=Overstock founder Patrick Byrne returns as CEO|date=July 27, 2016|last=Berthene|first=April|work=Internet Retailer}}</ref> The company increasingly lost ground to other [[e-commerce]] retailers, especially [[Amazon (company)|Amazon]] and [[Wayfair]]; by the time of his resignation in 2019, Byrne had largely given up trying to compete with these larger rivals; he led, beginning in 2017, unsuccessful attempts to find a buyer for Overstock's retail business.<ref name=Debter/> In the late 2010s, Overstock built a new $100 million headquarters at the base of Utah's [[Wasatch Mountains]], although several rounds of layoffs had left part of the complex empty.<ref name=Debter/>
In 2013, Byrne began to invest in [[cryptocurrency]] and [[blockchain]], and Overstock became the first major retailer to accept [[Bitcoin]] as a form of payment. Byrne shifted some of Overstock's balance sheet to support Tzero, a new digital stock exchange billed as a "blockchain version of [[Nasdaq]]; Tzero's [[initial coin offering]] in 2018.
As Byrne's focus on the technology intensified in 2017 and 2018, Overstock incurred significant losses—$316 million over two years, more than twice the profits ever made by the company.<ref name=Debter/> ====Campaign against naked shorting and analysts====
In a conference call with analysts in August 2005, Byrne said that "there's been a plan since we were in our teens to destroy our stock, drive it down to $6–$10 ... and even a plan for how the company would then get whacked up." He said that the conspirators were part of a "Miscreants Ball," headed by a "Sith Lord," whom he identified only as "he's one of the master criminals from the 1980s." (but identified in an interview two weeks later as [[Steve_Cohen_(businessman)|Steve Cohen]]).<ref>{{Cite magazine|url=https://www.wired.com/2014/02/rise-fall-rise-patrick-byrne/|title=Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street|first=Cade|last=Metz|magazine=Wired |via=www.wired.com}}</ref> Byrne said the conspiracy included hedge funds, journalists, investigators, trial lawyers, the SEC, and [[Eliot Spitzer]].
In a conference call with analysts in August 2005, Byrne said that "there's been a plan since we were in our teens to destroy our stock, drive it down to $6–$10 ... and even a plan for how the company would then get whacked up." He said that the conspirators were part of a "Miscreants Ball," headed by a "Sith Lord," whom he refused to identify but said "he's one of the master criminals from the 1980s." Byrne said the conspiracy included hedge funds, journalists, investigators, trial lawyers, the SEC, and [[Eliot Spitzer]]. [[Fortune (magazine)|Fortune]] writer [[Bethany McLean]] said that Byrne had become a "hero to those who believe that short-sellers are the operators of Wall Street's ultimate black box, predators who destroy companies through innuendo, bullying, political connections—and sometimes through an illegal practice known as 'naked shorting.'" Byrne financed and largely wrote a full-page advertisement in ''[[The Washington Post]]'' which said "[[Naked short selling]] ... is literally stealing money from the widows, retirees, and other small investors."<ref name=PhantomMenace>{{Cite web|url=https://money.cnn.com/magazines/fortune/fortune_archive/2005/11/14/8360711/|archive-url=https://web.archive.org/web/20110606065030/http://money.cnn.com/magazines/fortune/fortune_archive/2005/11/14/8360711/|url-status=dead|title=PHANTOM MENACE - November 14, 2005|archive-date=June 6, 2011|website=money.cnn.com}}</ref> In a letter to ''[[The Wall Street Journal]]'' in April 2006, Byrne contended that "blackguards have practiced 'failure to deliver'" of securities, were "destroying businesses and (probably) destabilizing our capital markets."<ref>{{cite web|url=https://www.wsj.com/articles/SB114558723216732121|title=Here's the Naked Truth About Overstock.com|date=21 April 2006|website=[[The Wall Street Journal]]|access-date=17 August 2018}}</ref><ref>[https://archive.today/20120712182322/http://news.com.com/CEO+on+the+hot+seat/2008-1030_3-6046300.html CNET interview with Byrne] March 6, 2006</ref> Since 2005, Overstock has filed two lawsuits relating to the matters under Byrne's direction.<ref>[https://archive.today/20120710222214/http://news.com.com/Overstock+CEO+reflects+on+Cramer+debacle/2100-1030_3-6171494.html Overstock CEO reflects on Cramer debacle] March 28, 2007</ref> After her article appeared in 2005, McLean was attacked by Byrne with such vehemence that she ceased covering him.<ref name="CJR">{{cite news|last1=Colhoun|first1=Damaris|title=The shadowy war on the press: How the rich silence journalists|url=https://www.cjr.org/analysis/shadowy_war.php|access-date=27 August 2017|work=Columbia Journalism Review|language=en}}</ref>▼
In 2005, Overstock.com sued hedge fund [[David Rocker|Rocker Partners]] and the [[Securities research|equities research]] firm Gradient Analytics (formerly Camelback Research Alliance) in California, alleging they illegally colluded in short-selling the company while paying for negative reports to drive down share prices.<ref>{{cite web|url=http://appellatecases.courtinfo.ca.gov/search/case/mainCaseScreen.cfm?dist=1&doc_id=65285&div=4&doc_no=A113397|title=California Courts - Appellate Court Case Information|website=Appellatecases.courtinfo.ca.gov|access-date=17 August 2018}}</ref> Gradient countersued Overstock for libel.<ref>{{cite news|url=https://www.reuters.com/article/marketsNews/idUSN1544393520080415|title=UPDATE 2-US research firm countersues Web retailer Overstock|website=[[Reuters]] |date=15 April 2008|access-date=17 August 2018}}</ref> A portion of this suit was settled out of court in 2008; Overstock and Gradient dropped their claims against each other after Gradient retracted allegations that Overstock's reporting methods did not comply with rules established by the [[Financial Accounting Standards Board|FASB]], stated they believed Overstock.com complied with [[Generally Accepted Accounting Principles|GAAP]] standards, and that three directors were independent, and apologized.<ref name=reut1008>{{Cite news|title=Overstock says settled claims against Gradient |url=https://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSN1346384320081013 |work=[[Reuters]] |date=2008-10-13 |access-date=2008-10-17 | first=Alexandria | last=Sage}}</ref><ref name=slct1008>{{Cite web|url=http://www.sltrib.com/business/ci_10713775|title=Overstock.com settles suit with research firm|first=Paul|last=Beebe|work=[[The Salt Lake Tribune]]|date=2008-10-13|access-date=2008-10-17|url-status=dead|archive-url=https://web.archive.org/web/20081017114726/http://www.sltrib.com/business/ci_10713775|archive-date=2008-10-17}}</ref> In December 2009, the suit against Rocker, whose name had since been changed to Copper River Partners, was settled by Copper River paying $5 million.<ref name='Reuters-settle'>{{Cite news| title=Overstock says it settles with hedge fund | date=2008-12-08 |url =https://www.reuters.com/article/idCNN0821943720091208?rpc=44 | website=[[Reuters]] | access-date = 2009-12-09 }}</ref>
In 2007, Overstock filed a second lawsuit against a number of large investment banks, alleging that the brokers engaged in illegal naked short selling. The long-running litigation ended in 2016. Overstock's claims against [[Goldman Sachs]] were dismissed, but the other brokers, such as [[Merrill Lynch]], settled for $20 million.<ref>{{cite web|url=https://www.deseret.com/2007/2/3/19999872/overstock-sues-brokers|title=Overstock sues brokers|date=3 February 2007|website=[[Deseret News]]|access-date=17 August 2018}}</ref><ref>{{cite web|url=https://www.wsj.com/articles/overstock-reaches-settlement-with-merrill-lynch-1454101005|newspaper=Wall Street Journal|title=Overstock Reaches Settlement With Merrill Lynch|author=Josh Beckerman|date=January 29, 2016}}</ref><ref>{{cite web|url=https://www.furnituretoday.com/business-news/overstockcom-settles-lawsuit-against-merrill-lynch-20-million/|title=Overstock.com settles lawsuit against Merrill Lynch for $20 million|work=Furniture Today|author=Larry Thomas|date=January 29, 2016}}</ref>
▲
Byrne's campaign against naked short selling and others who he feels targeted him and his company attracted both controversy and praise.<ref>Steven Oberbeck, [https://archive.sltrib.com/story.php?ref=/business/ci_10079510 Wall Street war: A win for Utahn: Byrne's battle helps bring curbs on naked short-selling practices], ''Salt Lake Tribune'' (August 2, 2008).</ref> In addition to criticizing [[broker-dealer]]s and [[hedge fund]]s as corrupt, Byrne also criticized the press as corrupt and unable to understand the [[financial industry|financial]] and [[Dot-com company|dot.com industries]], and complained that the mainstream media had "demonized" him.<ref>{{cite news |last1=Leonard |first1=Wendy |title=Media fueling corruption on Wall Street? |url=https://www.deseret.com/2008/3/7/20075024/media-fueling-corruption-on-wall-street|access-date=10 November 2020 |work=[[Deseret News]] |date=7 March 2008 |language=en}}</ref>
====''Deep Capture''====
In part to publicize his thoughts on naked short selling, Byrne founded the website "Deep Capture". In October 2011, [[Vancouver]] businessman Altaf Nazerali sued Byrne for [[Libel and slander|libel and defamation]] in the [[Supreme Court of British Columbia]] for articles published on the website. The articles described Nazerali as being involved with "Osama Bin Laden's favorite financier," and that he worked with [[criminal syndicate]]s including the [[Colombian drug cartel]], the [[Russian mafia]], and various "jihadi terrorist groups" including [[al Qaeda]]'s Golden Chain. Deep Capture also accused Nazerali of "delivering weapons to war zones in Africa and to the mujahedeen in Afghanistan," of orchestrating "small-time 'pump and dump' scams… [and] bust-outs, death spiral finance and naked short selling," and of carrying out dirty work for "a Pakistani ISI asset" who "works for the Iranian regime." In May 2016, the Court found that the allegations in the Deep Capture articles were libelous and defamatory; Nazerali was awarded $1.2 million in damages, including $500,000 in aggravated damages, $250,000 in punitive damages and $55,000 in special damages.<ref>{{Cite news|url=https://vancouversun.com/news/local-news/vancouver-businessman-wins-1-2-million-for-internet-libel|title=Vancouver businessman wins $1.2 million for Internet libel|last=Mulgrew|first=Ian|date=2016-05-07|work=[[Vancouver Sun]]|access-date=2018-11-18|language=en-US}}</ref> Byrne was permanently banned from publishing these accusations. The Court found Byrne, his employee Mark Mitchell, and Deep Capture "engaged in a calculated and ruthless campaign to inflict as much damage on Mr. Nazerali's reputation as they could achieve." The 102-page decision said "It is clear on the evidence that their intention was to conduct a vendetta in which the truth about Mr. Nazerali himself was of no consequence."<ref>{{Cite web|url=https://www.huffingtonpost.com/entry/fake-news-pioneer-patrick-byrne-faces-reckoning_us_58a08b80e4b0e172783a9db4|title=Fake News Pioneer Patrick Byrne Faces Reckoning|last=Weiss|first=Gary|date=2017-02-16|website=[[Huffington Post]]|language=en-US|access-date=2018-11-23}}</ref><ref>{{Cite web|url=https://www.canlii.org/en/bc/bcsc/doc/2016/2016bcsc810/2016bcsc810.pdf|title=Supreme Court of British Columbia Decision
The judgment was upheld on appeal in August 2018.<ref>{{Cite web|url=https://www.scc-csc.ca/case-dossier/info/dock-regi-eng.aspx?cas=38113|title=Supreme Court of Canada - SCC Case Information - Docket - 38113|last=Canada|first=Supreme Court of|date=2001-01-01|access-date=2018-08-18}}</ref><ref>{{Cite web|url=http://www.courts.gov.bc.ca/jdb-txt/sc/16/08/2016BCSC0810cor1.htm|title=2016 BCSC 810 Nazerali v. Mitchell|website=www.courts.gov.bc.ca|access-date=2018-08-18}}</ref><ref>{{Cite news|url=https://vancouversun.com/news/local-news/the-wild-west-of-the-internet-b-c-mans-seven-year-ordeal-ends-with-million-dollar-libel-award|title='Wild West of the internet': Seven-year online defamation battle ends with $1.1 million award|date=2018-08-27|work=Vancouver Sun|access-date=2018-09-01|language=en-US}}</ref><ref>{{Cite web|url=http://www.asianpacificpost.com/article/8373-if-it-can-happen-me-it-can-happen-you.html|title="If it can happen to me, it can happen to you"|newspaper=Asian Pacific Post|language=en|access-date=2018-09-01}}</ref>
====Relationship with Maria Butina and resignation as CEO====
In 2019, Byrne announced that he was resigning in order to come forward about his involvement with the [[deep state conspiracy theory|Deep State]].<ref>{{Cite web|url=https://www.cnbc.com/2019/08/22/overstock-ceo-patrick-byrne-resigns-following-deep-state-comments.html|title=Overstock CEO Patrick Byrne resigns following 'deep state' comments, stock rises|first=Annie|last=Palmer|date=August 22, 2019|website=CNBC}}</ref><ref>{{Cite web|url=https://www.cnn.com/2019/08/22/business/overstock-ceo-patrick-byrne-resigns/index.html|title=Overstock CEO resigns after his 'deep state' comments sparked stock selloff | CNN Business|first=Jackie|last=Wattles|date=August 22, 2019|website=CNN}}</ref> Byrne claimed that he had had a
Byrne resigned his board seat and position as CEO of Overstock.com on August 22, 2019 and [[Jonathan E. Johnson]] was appointed CEO by the board.<ref name=Bhattarai/><ref>Metz, Cade and Creswell, Julie [https://www.nytimes.com/2019/08/22/business/overstock-ceo-patrick-byrne.html "Patrick Byrne, Overstock C.E.O., Resigns After Disclosing Romance With Russian Agent"], ''The New York Times'', August 22, 2019</ref><ref>{{Cite news|url=https://www.marketwatch.com/story/overstock-investors-cheer-after-controversial-ceo-patrick-byrne-resigns-2019-08-22|title=Overstock investors cheer after 'too controversial' CEO Patrick Byrne resigns|last=Kilgore|first=Tomi|website=MarketWatch|language=en-US|access-date=2019-08-22}}</ref>
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While throughout Byrne's tenure at Overstock investors opposed Byrne's leadership style, he did not experience an [[activist shareholder]] campaign and maintained that his departure was voluntary, rather than forced by the corporation's board.<ref name=Debter/>
Byrne sold some of his Overstock stock over the course of 2019, but remained the company's largest shareholder in the immediate aftermath of his resignation, with a 14% stake.<ref name=Debter/> One month after
After Butina's release from prison, she became involved in Russian national politics. Byrne continued to send her financial gifts, which in 2021 led members of the Russian political opposition to object to her running for political office based on her "foreign financial backing". The "gifts" were investigated in the US by the ''Business Insider'', and Byrne admitted to them, when her candidacy with [[Vladimir Putin]]'s party [[United Russia]] became public.<ref>{{Cite web|last=Shoaib|first=Alia|title=Patrick Byrne, the pro-Trump former Overstock CEO admits funneling cash to his ex-lover Maria Butina, the glamorous spy expected to be elected to Russia's parliament|url=https://www.businessinsider.com/pro-trump-former-overstock-ceo-gave-russian-spy-ex-lover-money-2021-9|access-date=2021-09-24|website=Business Insider|language=en-US}}</ref>
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In 2022, [[PBS]] reported that Byrne had been informed that several of the persons he promoted as stating that Trump was defrauded were lying, but that he chose to promote their words anyways. He also told a reporter from PBS that he "could live with" potentially "destroying the country", referring to the United States.<ref>{{cite news |url=https://www.pbs.org/newshour/show/how-powerful-conservatives-pushed-the-big-lie-that-the-2020-election-was-fraudulent |publisher=PBS |title=How powerful conservatives pushed the 'Big Lie' that the 2020 election was fraudulent |date=April 26, 2022 }}</ref> During the 2022 Midterm Elections, Byrne was a major donor to candidates that ran on the premise that the 2020 election was not legitimate.<ref>{{cite web | url=https://www.brennancenter.org/our-work/research-reports/big-donors-working-overturn-2020-election-are-backing-election-denial | title=Big Donors Working to Overturn the 2020 Election Are Backing Election Denial Candidates in 2022 | Brennan Center for Justice | date=November 2022 }}</ref> Following the election, he again financed efforts by candidates to overturn their lost election bids, including [[Kari Lake]].<ref>{{cite web |url=https://www.12news.com/article/news/politics/lake-lawsuit-could-extend-beyond-hobbs-swearing-in/75-3791c7c0-4b31-4fa6-b221-93dd65fb0e83 |date=December 13, 2022 |publisher=NBC 12 News |title=Kari Lake's legal challenge to Katie Hobbs' victory could drag on beyond Hobbs' swearing-in as governor |author=Brahm Resnik}}</ref>
In June 2024, tax filing documents which were recovered by [[Issue One]] revealed that Byrne and [[Michael Flynn]]'s non-profit group American Project made money off of conspiracy theories.<ref name=americaprojectrevenue>{{cite news|url=https://issueone.org/press/new-tax-filing-details-how-election-deniers-profit-from-group-founded-by-conspiracy-theorists-patrick-byrne-and-michael-flynn/|title=New tax filing details how election deniers profit from group founded by conspiracy theorists|first=Cory|last=Combs|publisher=Issue One|date=June 24, 2024|accessdate=June 26, 2024}}</ref> In 2022, Byrne himself collected a salary of $95,000 from America Project, and the organization itself was able to pay a real estate linked to Byrne $192,000.<ref name=americaprojectrevenue /> This money revenue was made in spite of the fact that Byrne previously told the [[January 6 Committee]] that he did not make money from The American Project.<ref name=americaprojectrevenue /> Other people involved with the organization had been paid large salaries as well,<ref name=americaprojectrevenue /> In 2024, Byrne threatened to torture law enforcement involved in his law suits with "piano wire and a blowtorch".<ref>{{cite web |url=https://lawandcrime.com/lawsuit/expressly-prohibited-judge-in-dominion-suit-has-abundantly-clear-message-for-kraken-lawyer-and-ex-overstock-ceo-on-tina-peters-trial/ |publisher=Law & Crime |title=‘Expressly prohibited’: Judge in Dominion suit has ‘abundantly clear’ message for ‘Kraken’ lawyer and ex-Overstock CEO on Tina Peters trial |author=MATT NAHAM |date=July 30, 2024}}</ref><ref>{{cite news |url=https://www.washingtonpost.com/politics/2024/07/26/patrick-byrne-tina-peters-threats/ |publisher=Washington Post |title=Trump ally who denies 2020 election results threatens law enforcement |author=Patrick Marley |date=July 26, 2024}}</ref> That year he also admitted to hacking the government computers of [[Venezuela]] used in their elections, confirming reports from the country that he had been involved in what was described by Byrne as criminal activity against the regime, which he stated included "at least one act of war".<ref>{{cite web |url=https://www.mediamatters.org/voter-fraud-and-suppression/election-denier-patrick-byrne-claims-hes-conducted-illegal-activity |publisher=Media Matters |title=Election denier Patrick Byrne claims he's conducted “illegal activity ... hacking the government of Venezuela” |date=July 29, 2024}}</ref> A report revealed that in 2024, his fundraising efforts including providing financing for far right political groups in the United States.<ref>{{cite web |title=Pro-Trump Millionaire Patrick Byrne Has Been Funding Far-Right Groups That Promote Conspiracy Theories: Report |url=https://www.benzinga.com/markets/equities/24/07/39871955/pro-trump-millionaire-patrick-byrne-has-been-funding-far-right-groups-that-promote-conspiracy-th |publisher=Benzinga |author=Nabaparna Bhattacharya |date=July 20, 2024}}</ref>
===Anti-vaccination beliefs===
In the context of his election conspiracy theories, Byrne has also written posts pushing alternative cures to [[COVID-19]] and questioning the role of vaccines on his blog ''Deep Capture''. He has stated that COVID-19 vaccines were either "poisoning Americans" or "putting miniature Covid-19 spike protein factories in our arms to wreak havoc with ovaries and balls".<ref name=DeepB>{{cite web |url=https://www.deepcapture.com/2021/08/im-a-real-doctor-not-a-medical-doctor/ |publisher=Deep Capture |date=August 9, 2021 |title="I'm a Real Doctor not a Medical Doctor…." |author=Patrick Byrne}}</ref> Both claims have been proven false by the medical community.<ref>{{cite news |url=https://www.bbc.com/news/health-57552527 |publisher=BBC |title=Covid vaccine: Fertility and miscarriage claims fact-checked |author=Rachel Schraer |date=August 11, 2021}}</ref> On the same blog, Byrne insisted that the vaccine push has its "origin in political decisions made in Washington, DC," and " little to do with what is best for the health of Americans, and everything to do with political considerations of a regime that came to power in a rigged election."<ref name=DeepB /> In September 2021, Byrne became a part of a travelling anti-vaccination touring group called the "[[ReAwaken America Tour|ReAwaken America]]" tour that also featured Flynn and Lindell. Byrne travelled with the group to multiple US states with a message that COVID-19 was not a threat and that treatment of it was unhealthy—again something long disproven by actual medical doctors. Admission to their events ran between $250 and US$500 per person.<ref>{{cite news |url=https://www.theguardian.com/us-news/2021/sep/03/trump-loyalists-doctors-ministers-reawaken-america-tour |work=The Guardian |title=Trump loyalists team up with anti-vax doctors for 'health and freedom' tour |date=September 3, 2021 |author=Peter Stone}}</ref> He is one of the largest donors to [[Robert F. Kennedy Jr.]]’s campaign for the 2024 Democratic Party presidential nomination,
===Accusation of defamation against Hunter Biden===
In November 2023, [[Hunter Biden]] filed a defamation lawsuit against Byrne in the State of California, following interview comments and social media posts Byrne made accusing Biden of corruption involving [[Iran]]. More than 100,000 individuals reviewed his comments according to the lawsuit.<ref>{{cite web |url=https://www.politico.com/news/2023/11/08/hunter-biden-sues-former-overstock-com-ceo-00126240 |publisher=Politico |title=Hunter Biden sues former Overstock.com CEO |date=November 11, 2023 |author=
==Education policy==
Byrne served for ten years as the [[chairman]] of the Milton & Rose Friedman Foundation, at the request of [[Milton Friedman]].<ref>{{Cite web|url=https://www.ocregister.com/2013/07/31/patrick-m-byrne-milton-friedmans-school-voucher-legacy/|title=Patrick M. Byrne: Milton Friedman's school voucher legacy|first=Orange County Register | Orange County|last=Register|date=July 31, 2013}}</ref> The non-profit organization was founded by Milton and Rose Friedman and promotes school vouchers and other forms of school choice. After the agreed upon ten years, he changed the name and stepped down.<ref>{{Cite web|url=https://wishtv.com/news/edchoice-names-board-chair-new-board-member/|title=EdChoice names board chair, new board member|date=December 17, 2019|website=WISH-TV}}</ref><ref>{{Cite web|url=https://www.edchoice.org/media/edchoice-announces-board-leadership-changes-new-board-member/|title=EdChoice announces board leadership changes, new board member|date=June 18, 2024|website=EdChoice}}</ref>
In 2005, Byrne provided financial backing to the Class Education, whose goal is to change state laws to require schools to spend at least 65 percent of their operating budgets on classroom expenses. Proponents of the standard contend that it would free up money to increase teachers' salaries without requiring tax increases. Critics say that many services deemed "non-classroom" are necessary for education, including librarians, school nurses, guidance counselors, food service workers and school bus drivers.<ref>[https://web.archive.org/web/20070104080017/http://www.time.com/time/magazine/article/0,9171,1074137,00.html Teaching Schools How to Spend] By Matthew Cooper Jun. 20, 2005, ''[[Time magazine]]''</ref><ref>{{cite news|url=https://www.nytimes.com/2006/01/04/education/04solution.html?pagewanted=all|title=Here's an Idea: Put 65% of the Money Into Classrooms|first=Alan|last=Finder|website=[[The New York Times]]|date=4 January 2006|access-date=17 August 2018}}</ref><ref>{{cite web|url=http://www.stateline.org/live/ViewPage.action?siteNodeId=136&languageId=1&contentId=63787|title=Stateline|website=Stateline.org|access-date=17 August 2018}}</ref>▼
▲In 2005, Byrne provided financial backing to the Class Education, whose goal is to change state laws to require schools to spend at least 65 percent of their operating budgets on classroom expenses. Proponents of the standard contend that it would free up money to increase teachers' salaries without requiring tax increases. Critics say that many services deemed "non-classroom" are necessary for education, including librarians, school nurses, guidance counselors, food service workers and school bus drivers to which Byrne responded that funding was being sucked up District, County, State, and Federal layers the public did not see.<ref>[https://web.archive.org/web/20070104080017/http://www.time.com/time/magazine/article/0,9171,1074137,00.html Teaching Schools How to Spend] By Matthew Cooper Jun. 20, 2005, ''[[Time magazine]]''</ref><ref>{{cite news|url=https://www.nytimes.com/2006/01/04/education/04solution.html?pagewanted=all|title=Here's an Idea: Put 65% of the Money Into Classrooms|first=Alan|last=Finder|website=[[The New York Times]]|date=4 January 2006|access-date=17 August 2018}}</ref><ref>{{cite web|url=http://www.stateline.org/live/ViewPage.action?siteNodeId=136&languageId=1&contentId=63787|title=Stateline|website=Stateline.org|access-date=17 August 2018}}</ref>
Byrne and his family contributed most of the funds in support of House Bill 148 in [[Utah]], a bill that would allow the state to provide funding vouchers for students who decide to leave public schools for private schools.<ref>{{cite web|url=http://www.sltrib.com/ci_7341715?source=rv|title=Tribune poll: Anti-school vouchers camp has 20-point lead|website=Sltrib.com|access-date=17 August 2018}}</ref> In January 2008, it was reported that Byrne and his parents contributed about $4 million to the pro-voucher campaign, or three-quarters of its $5.4 million funding and equal the entire total spent by the opposing side.<ref>{{cite web|url=http://www.deseretnews.com/article/1,5143,695223711,00.html|title=Financing voucher fight|date=1 November 2007|website=[[Deseret News]]|access-date=17 August 2018|archive-date=25 July 2008|archive-url=https://web.archive.org/web/20080725144902/http://deseretnews.com/article/1,5143,695223711,00.html|url-status=dead}}</ref><ref>[http://www.sltrib.com//ci_7919542?IADID=Search-www.sltrib.com-www.sltrib.com "Voucher battle costs both sides total of $9.3M," ''Salt Lake Tribune'', Jan. 8, 2008],</ref> When that bill was defeated in a statewide referendum (62% opposing vs. 38% favoring),<ref>{{cite web|url=https://www.azcentral.com/arizonarepublic/local/articles/1109robb09.html|title=Voters dislike vouchers<!-- Bot generated title -->|website=Azcentral.com|access-date=17 August 2018}}</ref> the ''[[Salt Lake Tribune]]'' reported that Byrne "called the referendum a 'statewide IQ test' that Utahns failed." He said, "They don't care enough about their kids. They care an awful lot about this system, this bureaucracy, but they don't care enough about their kids to think outside the box."<ref>{{Cite web |url=http://www.sltrib.com/news/ci_7392263?source=rv |title=Salt Lake Tribune - Vouchers go down in crushing defeat |access-date=2007-11-07 |archive-url=https://web.archive.org/web/20071228120609/http://www.sltrib.com/news/ci_7392263?source=rv |archive-date=2007-12-28 |url-status=dead }}</ref>
Byrne criticized Utah governor [[Jon Huntsman, Jr.|Jon Huntsman]] for not sufficiently supporting the voucher campaign.<ref>{{Cite web|url=https://www.politico.com/story/2011/08/backed-huntsman-once-never-again-060708|title=Backed Huntsman once, never again |website=Politico}}</ref> Huntsman had before he was elected stated that he was "going to be the voucher governor", and Byrne had donated $75,000 to Huntsman's campaign for governor in 2004. When Huntsman was elected, however, he went missing from the debate, and Byrne told the [[Associated Press]] that he would now bankroll anyone who could defeat Huntsman at the polls, "even a communist".<ref>{{cite web|url=http://www.heraldextra.com/content/view/242935/|title=Overstock chief blasts Huntsman over vouchers|agency=Associated Press|date=November 8, 2007|website=Herald Extra|access-date=17 August 2018|archive-date=6 November 2021|archive-url=https://web.archive.org/web/20211106212047/http://www.heraldextra.com/content/view/242935/|url-status=dead}}</ref>
==Personal life==
Shortly after his graduation from Dartmouth, Byrne suffered from [[testicular cancer]]; he recovered, but several bouts of the cancer left him hospitalized for much of his 20s.<ref name=Debter/> He later became a practitioner of martial arts, holding a black belt in [[taekwondo]], and remains an avid SCUBA diver and [[skydiver]].<ref>{{Cite news|last=Bhattarai|first=Abha|title=Inside Overstock.com, where a firebrand CEO and 'Deep State' intrigue took center stage|language=en-US|newspaper=Washington Post|url=https://www.washingtonpost.com/business/2019/09/26/inside-overstockcom-where-firebrand-ceo-deep-state-intrigue-took-center-stage/|access-date=2021-04-09|issn=0190-8286}}</ref> He once owned several homes in [[Sarasota, Florida]], which he purchased through a company called Manatee Investments LLC, but he has since sold them.<ref name=Ninety>{{cite news |url=https://www.heraldtribune.com/story/opinion/columns/2021/09/09/conspiracy-kooks-flocking-sarasota-county/5749142001/ |date=September 9, 2021 |title=Column: The secret moves of the Cyber Ninjas moneyman |author=Chris Anderson |publisher=Sarasota Herald-Tribune}}</ref><ref>{{cite web | url=https://www.heraldtribune.com/story/news/politics/2022/03/04/patrick-byrne-moved-sarasota-close-michael-flynn/9332304002/ | title=Sarasota Herald-Tribune Subscription Offers, Specials, and Discounts }}</ref>
==References==
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[[Category:Beijing Normal University alumni]]
[[Category:People associated with Bitcoin]]
[[Category:Protesters in or near the January 6 United States Capitol attack]]
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