George Soros pumps $125 MILLION into super PAC his son Alexander will become president of to help Democrats ahead of the midterms: Donation is aimed at aiding ‘pro-democracy’ candidates
- Financier George Soros is giving $125 million to Democracy PAC
- He said it will back pro-democracy causes and candidates
- His son Alexander will serve as the super PAC’s president
- Spending is expected to reach record levels in this year’s midterms
The 91-year-old, who made his fortune in hedge funds, has used the Democracy PAC since 2019 to support political campaigns, channeling some $80 million through it during the 2020 cycle.
The new money will support pro-democracy ’causes and candidates, regardless of political party’ who are invested in ‘strengthening the infrastructure of American democracy: voting rights and civic participation, civil rights and liberties, and the rule of law,’ Soros said in a statement shared first with Politico.
He added that the donation was a ‘long-term investment’ designed to support its work beyond November’s elections.
This year’s midterms, which will determine who controls the House and Senate for the second half of President Joe Biden’s term, are expected to break spending records.
Much of the rise is fuelled by super PACs.
Billionaire philanthropist George Soros is giving $125 million to a super PAC this election cycle to back Democrat candidates and causes in the midterms and beyond
George Soros’s son Alexander will serve as president of Democracy PAC
Alex Soros: The heir to a family fortune and a philanthropic empire
Alex Soros is one of George Soros’s five children but is his heir apparent
Alex Soros, 36, is the deputy chairman of the Open Society Foundations – the vehicle for George Soros’s donations – and is his father’s heir apparent.
He was born in New York, and has homes in Manhattan, Berkeley – where he studied for a Ph.D. in history – and London.
He is following in the footsteps of his father with charitable giving, and has said he wants to focus on less fashionable causes.
In 2010 he topped the list of student donors, giving $73,800 to mainly Democratic candidates and PACs
Among his causes is Global Witness, a British group known for exposing Africa’s ‘blood diamond’ trade.
But he has also turned up in the gossip pages of tabloids.
Most recently it was when he left a $700 tip after a night drinking shots of tequila into the early hours of the morning at a Brooklyn bar, according to the New York Post.
They can raise unlimited amounts of money from businesses, unions and individuals which they can spend on campaigning for or against candidates.
Unlike traditional PACs, super PACs are not allowed to donate directly to political candidates and cannot coordinate with their campaigns.
George Soros’s son Alex will serve as the PAC’s president.
Alex Soros said the Capitol attack on Jan. 6 last year and ‘ongoing efforts to discredit and undermine our electoral process, reveal the magnitude of the threat to our democracy.’
He added that this ‘is a generational threat that cannot be addressed in just one or two election cycles.’
The money positions Soros as one of the biggest donors in this political cycle and is bound to attract the anger of conservatives.
They have long used the Hungarian-born financier as a symbol of elite liberalism.
And conspiracy theories, placing him at the center of a Jewish web of influence, have traveled from the darkest reaches of the internet to right wing news networks.
In 2020, for example, President Donald Trump claimed Soros was funding Antifa – the sometimes violent left-wing, anti-fascist political movement.
‘You have Democrats funding them. They say Soros and they say other people,’ he told Fox News.
Tucker Carlson is currently promoting a documentary entitled ‘Hungary vs Soros: The fight for Civilization.’
This time around, Democracy PAC has already made major donations to two Democratic groups aligned with the party’s congressional leadership, according to Politico.
They include $2.5 million to Senate Majority PAC and $1 million to House Majority PAC.
And $1 million went to the Democratic Association of Secretaries of State – a position which has taken on huge significance in this election as Republicans target officials that administer elections.
Soros will be one of the biggest midterm donors and the attacks have already begun