Billionaire Soros Donates $60M to Democrats’ Campaign Funds

Billionaire philanthropist George Soros has made headlines in the 2024 election cycle by donating $60 million to Democracy PAC, as reported by the Daily Mail here.

This contribution is the second-largest in the upcoming 2024 elections, targeting a range of progressive causes and candidates, intensifying the political battle.

George Soros, a Hungarian-born tycoon, is significantly influencing the political landscape of the 2024 election cycle with a substantial $60 million donation to “Democracy PAC,” establishing himself as a powerful force in supporting Democratic initiatives.

This financial injection, the second-largest in the campaign so far, highlights Soros’ dedication to advancing progressive agendas and candidates across the country.

In January 2022, he donated $125 million to Democracy PAC, boosting the organization’s financial resources. By the second quarter, Democracy PAC had $39 million in funds.

According to filings with the Federal Election Commission, Soros’ donation spans various sectors, including aiding congressional Democrats, advocating for pro-choice movements, and supporting black candidates in down-ballot races.

During the first quarter, Democracy PAC allocated a substantial portion of the donation, with $21 million going to several super PACs. Beneficiaries included the “House Majority PAC” and the “Senate Majority PAC,” each receiving $4 million.

Additionally, Soros’ philanthropic arm contributed $2.5 million each to “Planned Parenthood Votes” and “Black PAC,” crucial organizations in promoting reproductive rights and diverse representation in state-level governance.

Despite conservative concerns about Soros’ influence, his significant donations are driving progressive mobilization and advocacy. His latest investment underscores a concerted effort to strengthen progressive platforms and amplify marginalized voices in politics.

Outside of political contributions, Soros has ventured into the media industry with investments in Audacy, a major radio company, hinting at a broader presence in the audio landscape. This strategic move reflects his multifaceted approach to shaping public discourse and influencing the electoral narrative leading up to the 2024 election.

These developments have raised questions about the influence of an ultra-progressive billionaire in the 2024 election season.

Super PACs supporting GOP candidates also disclosed their financial standings for the first quarter. The Senate Leadership Fund, a key supporter of Republicans, reported raising $27 million during this period and ending the quarter with a $60 million cash reserve.

Notable contributions to the fund included $7.5 million from Citadel’s Ken Griffin, as well as financial support from entities in the energy industry. Occidental Petroleum Corp., Chevron Corp., and Trevor Rees-Jones of Chief Oil & Gas LLC each provided substantial backing.

The American Petroleum Institute and venture capital firm Andreessen Horowitz also contributed to the fund.

According to the Bloomberg Billionaires Index, Soros’ wealth is estimated at around $7.2 billion.