Soros Enters the Race with $8 Million in Backing

Billionaire and philanthropist George Soros seems to be back in the political funding game. According to December filings with the Federal Election Commission, Priorities USA Action received $6 million in donations from Soros, and it just so happens that the super PAC is poised to support former Secretary of State Hillary Clinton’s run for the presidency. It’s the first of such donations from Soros in almost twelve years.
Soros’ recent show of support, along with additional funding since last summer, which brings the super PAC’s coffer to $41 million, almost doubling their funding from the first half of last year. Soros also spread money to American Bridge 21st Century in the amount of $1 million, and, prior to his last bit of funding of at the end 2015, he gave Priorities USA an additional $1 million. Collectively, his activates bring his political donations to an unexpected $8 million.

Not one to be left out in the American tradition of the wealthy donating in support of their candidate of choice, Priorities USA received a combined $3 million from from media mogul Haim Saban and his wife Cheryl. Donald Sussman and Herb Sandler, both from finance backgrounds, each handed over one and a half million dollars, and the same amount was donated by blue collar super PAC Working for Working Americans.

Though funding in this amount from well-to-do Americans to organizations set up to support candidates or their campaigns directly is by no means new, it wasn’t really expected from Soros by those to pay attention to the financial end of things. While he may have signed over $8 million in the last year, during the 2012 presidential campaign Soros donated a mere $1 million dollars in support of President Obama’s reelection. By contrast, the 2004 presidential race had Soros handing over $20 million to various groups in an attempt to keep George W. Bush from seeking office for a second term. After that unsuccessful attempt at guiding his political interests with funding, Soros’ monetary presence in electoral races has since been scant.

Soros’ new sense of daring seems to be the result of extended correspondence with Hillary Clinton since the 2012 election. In emails made public by the State Department, continuing the dissemination and publication of the contents from Clinton’s personal servers, Soros and Clinton had been communicating about politics and the billionaire discovered that his political and ideological leanings are closer to her own rather than that of President Obama, who received Soros’ support in both of his elections.

George Soros, native to Hungary, fled in search of freedom in 1947, taking him to the UK and finally to the United States. Having found a career in banking, he made a home in New York. He heads Open Society Foundations, which carries on Soros’ personal mission of campaigning to extend human rights across the world, a cause he’s fought for since 1974.