George Soros shared with Politico this week that he has given $125 million to the Democracy PAC, a “super” political action committee that Soros himself set up in 2019. Soros said the money is intended to be an “infusion” that will back “pro-democracy causes and candidates, regardless of political party.
Soros, who is 91 years of age, garnered his fortune through hedge funds. He is known for providing a great deal of donor money, typically to Democratic candidates. In 2020, Soros provided $80 million to the same PAC.
Pundits believe this $125 is meant to support Democrats in the upcoming midterm elections in November.
Soros says the PAC is created to support candidates “who are invested in strengthening the infrastructure of American democracy: voting rights, civic participation, civil rights and liberties, and the rule of law.”
Soros told Politico that the infusion of cash is meant to support candidates “well past November’s midterms.” He described the donation as a “long-term investment.”
Alexander Soros’ George’s son, will serve as the president of the PAC.
Ballotpedia describes Soros as a “prolific donor,” one who has given a sizable amount of money to a variety of candidates and causes. In 2016, Soros was the co-chair of the finance council of the Ready for Hillary Super PAC. As the 2016 presidential campaign narrowed down with Hillary Clinton as the Democratic candidate, Soros would donate $343,400 to the Hillary Victory Fund (in 2015).
In 2016, the Federal Election Committee (FEC) reported that Soros, along with other donors, provided $15 million to the Immigrant Voters Win super PAC. This PAC was charged with promoting Latino and immigrant participation at the polls.
Soros has also donated a great deal of money to the campaigns of local district attorneys across the United States. He donated a sizable amount to the Philadelphia Justice and Public Safety PAC as well as the Build a Better PA PAC. These super PACs each provided funding for ads for Democratic district attorneys as well as the Philadelphia mayoral campaign.
Soros also provided funds to a PAC in Arizona named the Arizona Safety and Justice PAC. This group promoted the Democratic district attorney in the 2016 elections. Rodriguez was outspoken regarding his opposition to former Maricopa County Sheriff Joe Arpaio. It was no secret that Soros opposed him also. Soros would also donate $300,000 to Maricopa Strong, a PAC which promoted the Democratic candidate for sheriff Paul Penzone. Soros would donate another $2 million one month after his initial donation. It is said that Soros opposed Joe Arpaio because of Soros’ stance on criminal justice reform as well as immigration reform.
Soros also provided donations to local races in Florida, Colorado, Illinois, Louisiana, and Mississippi, among other states.
Soros is a Hungarian-born philanthropist who is said to have donated $32 billion of his personal wealth, chiefly to political PACs and causes. Soros has been accused of “running the Democratic Party” by some conservative heavyweights.
InfluenceWatch.org describes Soros as “(one who) advocates for regulations to expand the federal government in the United States, ostensibly to reduce market stability.”
Soros is tied to the Open Society Foundation as well as the Foundation to Promote Open Society, described as “two left-of-center advocacy grant-making foundations.” The billionaire is also tied to the Institute for New Economic Thinking, which is also associated with progressive economic policies.