George Soros Seeds 2020 Democrat Super PAC Fund with $5.1 Million
Liberal billionaire launches major Democratic presidential campaign fund
Liberal billionaire George Soros has set up a 2020 election campaign super PAC for Democrats and has seeded the fund with $5.1 million, according to Federal Election Commission filings.
The 88-year-old globalist plans to use the Democracy PAC to distribute money to other organizations and won't follow other billionaires in creating his own political group.
”He has, unlike Tom Steyer or [Michael] Bloomberg, funded things like Senate Majority PAC and Priorities USA and EMILY’s List and Planned Parenthood and expects to continue to do so,” an inside source reportedly told Politico.
The $5.1 million donation more than doubles the $2.1 million Soros gave to political causes during the same point in the run-up to the 2016 presidential election.
In total, Soros eventually gave more than $20 million during the 2016 race, making him one of the Democratic Party’s largest individual donors.
Other members of the Soros family, including his son Alexander Soros, another major Democratic donor who founded the Alexander Soros Foundation, might also contribute to the Democracy PAC, Politico reported.
The Washington Post noted on Nov. 2, 2016, that Alexander Soros had donated $3.3 million to Democrat causes.
Open Secrets list George Soros as the seventh-highest federal donor in 2018.
The $20,135,585 he donated all went to Democrats and liberals.
The donations likely assisted the Democrats' successful campaign to regain majority control of the U.S. House of Representatives.
CNBC reported on Oct. 30, 2018, Soros’ 2018 giving included $5 million to Priorities USA Action: “a super PAC that backed Obama and Clinton when they each ran for president.”
Although $20 million may seem like a lot, Soros’ political donations are only a fraction of the money he spends promoting left-wing causes.
According to Life News, in 2017, his Open Society Foundations said that Soros had given away about $14 billion over his lifetime to fund left-wing journalism and liberal groups and activism on immigration, abortion.
In October of that year, Soros shifted another $18 billion into OSF, bringing its assets to more than $25 billion.
MRC Business also found that he had spent more than $103 million over 14 years on journalism and media.