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January 26, 2017

How George Soros’ Donations have Helped Democratic Party Candidates and Charity Organizations

George Soros is a Hungarian billionaire who is known for his generous contributions towards political campaigns. Since he made a high-profile comeback in the world of political donations in 2016, Soros has donated over $25 million to Democratic candidates such as Hilary Clinton. His wealth comes from his multi-million investments in currency trades. At 86 years old, Soros has earned the respect of people across the globe for his passion for changing the world into a safe place through charitable initiatives and donations. In 2016, he stood with Clinton as she was vying against Donald Trump.

George Soros catches up with the latest issues in politics through his political adviser, Michael Vachon. Vachon praised him, for his generous donations to the Democratic Party. He also pointed out that Soros cares about social issues such as religious tolerance, criminal justice, and immigration reforms on Forbes. He supports candidates who will help in solving these social problems affecting Americans today.

Besides Soros, Tom Steyer, Don Sussman, Fred Eychaner and Haim Saban have also funded political campaigns on Politico. Steyer is a San Francisco-based environmentalist who donated $31 million to support different campaigns. As a hedge funder residing in New York, Sussman has also spent $13.2 million to fund political activities on businessinsider.com. George Soros contributed $7 million to support Priorities USA Action that was launched by Clinton. The FEC also reported that he offered the American Bridge 21st Century a donation of $2 million.

Soros’ Contributions to Voter Mobilization Groups

George Soros is also passionate about non-profit institutions dedicated to eradicating voting restrictions. He recently donated $5 million to the Voting Right Trust that is managed by Marc Elias. The Voting Rights Trust was registered under a tax code that permits the institution to avoid disclosing its donors publicly. As the manager of the agency, Elias also works as Hilary Clinton’s campaign lawyer. Soros also partnered with his political adviser in supporting America Votes. The voter mobilization group received $3 million from the duo. Throughout his career as an investor, Soros has donated over $13 billion to non-profit organizations. These donations have facilitated the development of human rights organizations across the world.

Vachon reported that Soros had offered the Senate Majority PAC a $1.5 million donation. The money will be used to boost Senate candidates who are registered under the Democratic Party. The super PAC also seeks to support candidates who are advocates for social issues such as abortion rights. In 2004, Soros supported the opposition to Bush’s leadership during the Iraq War. He decided to fund John Kerry’s political agenda for him to challenge George Bush. When asked about the contribution, he said that it was an exception. He also pointed out that he will continue supporting philanthropic activities.

The Democracy Alliance

In 2005, he was instrumental in the launch of the Democracy Alliance. The alliance comprised of liberal donors. It was initiated to promote Democrats who are seeking positions in the state and federal governments. The alliance also focused on eradicating income inequality and climate change. Soros also supported Barack Obama who won during the 2008 presidential elections under a Democratic Party ticket.