Billionaire and longtime supporter of the liberal causes, George Soros, have made a name for himself when it comes to making oversized political donations. During the 2004 general elections, he spent a whopping $27 million in a move to oust President George W. Bush. After the failed attempt, Soros dialed back his political contributions only to reemerge as the top funder, especially of Democratic politics in the 2016 general elections. In fact, records from the Federal Election Commission revealed that he committed over $25 million to support Hillary Clinton among other Democratic candidates and their causes.
Soros had made plans to attend his first Democratic convention to watch Hillary Clinton, his candidate of choice, accept the nomination to be the Democratic Party’s presidential flag bearer. Nonetheless, one of his associates revealed that Soros later canceled the plans in a bid to keep a close watch on the European economic situation. Michael Vachon, Soros’ political adviser, claimed that although Soros has consistently donated funds to the Democratic causes in other years, the 2016 general elections presented unmatched political stakes.
Read more about George’s life story at biography.com.
Close associates of Soros cited that the billionaire appeared to be more politically motivated and engaged last year than in other years. They attributed this situation to a mix of his fear for Clinton’s GOP counterpart, Donald Trump, and faith in Hillary Clinton. His willingness to give generously in a bid to defeat Donald Trump was clearly visible by looking at the Democratic finance circles. Soros also donated money to PACs such as End Citizens United, which backs candidates like Hillary Clinton, who promise to push and support campaign finance reforms.
George Soros Philanthropy and Background
Hungarian-born George Soros boasts of a net worth of $25.2 billion according to real time Forbes reports. After fleeing the communist-invaded Hungary, he moved to England where he worked as a waiter and railway porter in an attempt to put himself through school at the London School of Economics. Upon moving to the United States, Soros found his ground on Wall Street, which propelled him to establishing his hedge fund firm that later changed the name to Quantum Fund. In 1992, Soros not only shorted the British pound but also reaped a lot of profit. In fact, he got recognition for breaking the Bank of England.
Apart from funding political causes, George Soros is an acclaimed philanthropist who has donated more than $12 billion to date. Through his funding, he has supported a wide range of organizations and individuals who fight for transparency, freedom of expression, accountable government, as well as societies that promote equality and justice. Soros has also supported various groups that represent the people of Roma such as LGBTI people, sex workers and drug users. Visit Project Syndicate to learn more about George.