George Soros seems more politically engaged than he’s been since the time of the Bush Administration, according to a recent report in Politico. That could be because the stakes of this year’s election are strikingly high. The democratic nominee, Hillary Clinton is facing off against a decidedly illiberal Donald Trump as the Republican nominee. Trump has a warm relationship with Russian Strongman Vladimir Putin, he wants to build a wall along the U.S.’s southern border with Mexico, ban Muslims from entering the country, and strike down the First Amendment. The latest news is that he didn’t pay income taxes for 18 years.
Soros might not be a young man anymore, but the 85-year-old billionaire is using his money to help defeat the dangerous Trump. Indeed, Soros has claimed that Trump is, “doing the work of ISIS,” by stoking fear in the American electorate on politico.com.
The Hungarian-born Soros is based in New York, where he made his fortune in high-risk currency trading on Bloomberg. He uses his wealth to bankroll causes he cares about, including religious tolerance, criminal justice issues, and immigration reform. All issues of which Trump is hostile.
Soros, consequently, has pledged more than $25 million to Hillary Clinton, along with other Democratic candidates, to make sure the Republicans cannot achieve their goals, according to interviews Politico has done with Democratic operatives and those close to George Soros. The billionaire has already donated $7 million to one Clinton super PAC, and democratic officials say he’s deciding whether to give another $3 million. He’s also given a cool $5 million to a liberal super PAC that helps get out the Latino vote in swing states, which overwhelmingly favors Clinton.
Soros is also fighting voting restrictions by donating $5 million to a group that seeks to defeat restrictive voting on twitter.com, a conservative cause of recent years. Not to be outdone, he’s so far donated $1.5 million this year to Planned Parenthood Votes, a super PAC that advocates for abortion rights.
Soros’ relationship with the Clintons stretches back at least 25 years to the first Clinton Administration. Soros had planned to attend last summer’s Democratic National Convention, but was hamstrung by volatility in European financial markets. The philanthropist, worth a reported $24.9 billion, felt he needed to keep a watchful eye on his investments.
The Democratic Party’s leadership see Soros’ injection of money as a harbinger of good things to come. They think Soros can jump start the giving of other wealthy liberal philanthropists.
Soros, however, doesn’t only spend his largess on American political causes. He’s donated around $13 billion over the last thirty years to groups and foundations that seek to defend human rights, democratize Eastern Europe, and expand educational and healthcare opportunities for people in developing countries.