Billionaire George Soros has once again become involved in the political arena by opening his wallet to Hillary Clinton, other Democratic candidates and political interest groups. Soros has donated or pledged $25 million.
According to Politico, the 85-year-old investor feels that this election is of paramount importance on Bloomberg. He has faith in Hillary Clinton and fears about Donald Trump.
George Soros has been a consistent donor to Democratic causes, but this year the political stakes are exceptionally high, according to Michael Vachon, spokesman for Soros. ‘They were high even before Trump became the nominee because of the hostility on the other side toward many of the issues George cares about and has for many years, including immigration reform, criminal justice reform, and religious tolerance.’
George Soros had faded from the political world in 2004, after targeting Bush and Cheney for defeat in that year’s election. He felt another term would be disastrous, in fact calling it ‘a matter of life and death.’ However, this brought heavy criticism down on him by right wing radio and television outlets and politicians. He was called a self-hating Jew and a communist, among other things.
Stung by the criticism and disappointed at the Bush victory, Soros turned to his philanthropic endeavors. Over 30 years, George Soros has donated $13 billion to various causes, including the Democracy Alliance, which fights for causes such as climate change, health and education expansion worldwide, and human rights.
Soros hopes his generous donation, which may be added to as the election nears, will spur more wealthy donors to chip in as well. Those who have donated so far have put Clinton at a solid financial advantage over Trump, who does not have the support of top Republican donors.
Soros has donated to these groups so far:
– $7 million to Priorities USA Action, with Clinton the largest recipient, according to the Federal Election Commission.
– $2 million to American Bridge to the 21st Century, an investigative political
– $5 million to a group targeting voter restriction laws
– $2 million to a voter mobilization group
– $1 million to various state voter groups
– $1.5 million to a PAC supporting Democratic candidates for the Senate and Planned Parenthood Votes
Soros has strong opinions on the Republican candidate for president. He said that Trump ‘is doing the work of ISIS’ by scaring the public. He has also written to voters, ‘Resist the siren song of the likes of Donald Trump and Ted Cruz if the US is to effectively fight terrorism. See: http://www.wsj.com/articles/a-bearish-george-soros-is-trading-again-1465429163
Born in Hungary, he survived the Nazi occupation as a Jew by living with a Christian family as arranged by his father. He then lived under communism after the war, but left and found his way to England where he studied at the London School of Economics.
After arriving in the United States, he eventually became an extremely successful hedge fund trader, now being worth $24.9 billion.