George Soros drops $60 MILLION into Democrats' war chest

Release time：2024-05-21 15:52:01 Source：Stellar Stories news portal

The billionaire George Soros has donated $60 million to Democracy PAC, a super political action committee he uses to support Democrats, the second-biggest campaign donation in the 2024 election cycle.

A nonprofit founded and funded by Soros gave cash to boost the campaigns of congressional Democrats, pro-choice campaigners and black candidates in down-ballot races, a filing with the Federal Election Commission shows.

Democracy PAC spread $21 million to a dozen super PACs in the first quarter, including $4 million donations to both the House Majority PAC and the Senate Majority PAC.

It gave $2.5 million to Planned Parenthood Votes, and the same sum to Black PAC, which boosts candidates in state-level races for governors, attorneys general and lawmakers.

Hungarian-born US investor and philanthropist George Soros is spending big this campaign season  

 Americans for Contraception Victory Fund, which runs awareness campaigns, received $500,000

Soros' group is among the political organizations, including super PACs and joint fundraising committees that support President Joe Biden and his Republican rival Donald Trump, that have to disclose their first-quarter finances this week.

Other donations by Democracy PAC's include $500,000 for Americans for Contraception Victory Fund and $1.8 million for American Bridge, which has pledged to spend $140 million to help reelect Biden.

The $60 million donation from Soros' group, called the Fund for Policy Reform, is the second largest so far in the 2024 election cycle.

A state-level PAC that backed Florida Governor Ron DeSantis' 2022 reelection donated $82.5 million to Never Back Down, which backed his unsuccessful Republican presidential bid.

It's also not the single biggest check Soros has written to a political committee ever.

He gave Democracy PAC $125 million in January 2022.

Democracy PAC started the second quarter with $39 million in the bank.

Soros' fortune is worth about $7.2 billion, according to the Bloomberg Billionaires Index.

The 93-year-old Hungarian-born businessman's massive donations to left-wing causes and efforts to change public opinion alarm many conservatives.

Soros money finances campaigns to unseat anti-abortion politicians  

Soros money has been used in campaigns against Connecticut state senator George Logan

The Democracy PAC donation comes as Soros Fund Management, another vehicle for the investor, is expanding into the US radio industry.

The group plowed more than $400 million into flailing radio company Audacy and its more than 220 stations nationwide in February, and looks set to expand further into audio content.

Three people involved in discussions with Soros executives told Semafor that the Audacy move was the start of a larger audio-buying spree.

This has stoked fears of an ultra-progressive billionaire having a megaphone in the 2024 election.

Super PACs that back GOP candidates are also disclosing first quarter financial results.

The Senate Leadership Fund, which backs Republicans, raised $27 million and ended the first quarter with $60 million cash on hand.

Citadel's Ken Griffin gave it $7.5 million, while energy industry companies and executives gave millions more.

Occidental Petroleum Corp. gave $2 million, Chevron Corp. and Trevor Rees-Jones, the billionaire owner of Chief Oil & Gas LLC each gave $1 million, and the American Petroleum Institute gave $1.5 million. Venture capital firm Andreessen Horowitz gave $250,000.

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