Report: Billionaire George Soros Ups Donations to Democrats to $25 Million

Send in e-mailSend in e-mail
Send in e-mailSend in e-mail
George Soros looks on during an interview at the World Economic Forum on Jan. 21, 2016.
George Soros looks on during an interview at the World Economic Forum on Jan. 21, 2016.Credit: Bloomberg

Billionaire investor George Soros has stepped up his contributions to the Democrats, donating more than $25 million on Hillary Clinton's behalf and to other candidates and causes, Politico reports.

The report quotes Federal Election Commission records, interviews with associates and Democratic fundraising operatives.

Soros had cut down on donations after spending $27 million on an abortive effort to unseat George W. Bush in 2004, an effort which he has called an "exception."

Some Soros associated expect him to give more as Election Day nears, after having earned more than $24.9 billion from risky currency trades.

Soros, 85, canceled plans to attend the Democratic National Convention this week to monitor finances in Europe,  Politico quotes an associate as saying.

Soros has accused Republican nominee Donald Trump of "doing the work of ISIS" by exacerbating public fears. He is believed to be worried about the possibility of him being elected president instead of Clinton.

Politico quotes Soros's political adviser Michael Vachon as saying his boss “has been a consistent donor to Democratic causes, but this year the political stakes are exceptionally high.”

“They were high even before Trump became the nominee because of the hostility on the other side toward many of the issues George cares most about and has worked to support for many years, including immigration reform, criminal justice reform and religious tolerance.”

Other liberal donors have also come up with big checks of late for the Democrats, but few are seen as having the potential impact of Soros on the campaign.                                 

Click the alert icon to follow topics: