George Soros drops $60 MILLION into Democrats’ war chest – second-biggest donation of the 2024 race to back ultra-progressive candidates and causes
Billionaire George Soros has donated $60 million to Democracy PAC, a super political action committee he uses to support Democrats, the second-largest campaign donation in the 2024 election cycle.
A nonprofit founded and funded by Soros gave money to boost the campaigns of congressional Democrats, pro-choice campaigners and Black candidates in down-ballot races, according to a filing with the Federal Election Commission.
Democracy PAC distributed $21 million to a dozen super PACs in the first quarter, including $4 million in donations to both the House Majority PAC and the Senate Majority PAC.
It gave $2.5 million to Planned Parenthood Votes, and the same amount to Black PAC, which boosts candidates in state-level races for governor, attorney general and state legislatures.
Hungarian-born American investor and philanthropist George Soros is spending big this campaign season
Americans for Contraception Victory Fund, which conducts public awareness campaigns, received $500,000
Soros’ group is among political organizations, including super PACs and joint fundraising committees supporting President Joe Biden and his Republican rival Donald Trump, that are due to release their first-quarter finances this week.
Other donations from Democracy PACs include $500,000 for Americans for the Contraception Victory Fund and $1.8 million for American Bridge, which has pledged to spend $140 million on Biden’s reelection.
The $60 million donation from Soros’ group, called the Fund for Policy Reform, is the second-largest so far in the 2024 election cycle.
A state-level PAC supporting the 2022 re-election of Florida Gov. Ron DeSantis donated $82.5 million to Never Back Down, which backed his failed Republican presidential bid.
It’s also not the largest check Soros has ever written to a political committee.
He gave Democracy PAC $125 million in January 2022.
Democracy PAC started the second quarter with $39 million in the bank.
According to the Bloomberg Billionaires Index, Soros’ fortune is worth about $7.2 billion.
The 93-year-old Hungarian-born businessman’s massive donations to left-wing causes and efforts to change public opinion are alarming many conservatives.
Soros’ money funds campaigns to unseat anti-abortion politicians
Soros money has been used in campaigns against Senator George Logan of Connecticut
The Democracy PAC donation comes as Soros Fund Management, another vehicle for the investor, expands into the US radio industry.
The group invested more than $400 million in struggling radio company Audacy and its more than 220 stations nationwide in February, and looks set to expand further into audio content.
Three people involved in conversations with Soros executives told Semafor that the Audacy campaign was the start of a larger audio purchasing wave.
This has fueled fears that an ultra-progressive billionaire would have a megaphone in the 2024 elections.
Super PACs backing GOP candidates also report first-quarter financial results.
The Senate Leadership Fund, which supports Republicans, raised $27 million and ended the first quarter with $60 million in cash.
Citadel’s Ken Griffin gave it $7.5 million, while companies and energy industry executives gave millions more.
Occidental Petroleum Corp. gave $2 million, Chevron Corp. and Trevor Rees-Jones, the billionaire owner of Chief Oil & Gas LLC, each gave $1 million, and the American Petroleum Institute gave $1.5 million. Venture capital firm Andreessen Horowitz gave $250,000.