George Soros, the politically inclined philanthropist who spent a whopping $27 million to support Democratic candidates in 2004, has resurfaced. Soros had taken a low profile since 2004 as he cut back on donations for the Democratic candidate in the US elections.
The billionaire investor is back with a bang. He has donated more than $25 million towards Clinton and other Democratic candidates for campaigns. They are hopeful that Soros, the man who amassed a mind-boggling $24.9 billion via risky currency businesses, to provide even more financial support as the D-day for the US election approaches.
On the back of his 25-year long relationship, the 85-year-old New Yorker who traces his roots to Hungary planned to attend the Democratic Convention that would have him watch Clinton give an acceptance speech for the presidential nomination. However, according to a close associate, George Soros had to cancel the trip to attend to more pressing matters relating to the European economic situation.
There is no love lost between George and the Republican presidential nominee, Donald Trump, whom he regards with suspicion, as does most Americans. He has led the way for other affluent benefactors who are already dreaming about a possible Clinton presidency. The result has been a massive financial mobilization for the Democrats, which has helped them, put together a well-oiled campaign machine.
The New York-based philanthropist is keen on a Clinton victory. Federal Electoral Commission (FEC) reports indicate that Soros has contributed $3 million towards a project called Immigrant Voters Win which aims to bring on board many Hispanic voters to help Clinton clinch victory in swing states. He has also pumped $5 million into a nonprofit group, the Voting Rights Trust, to fight conservative tendencies of restrictive voting.
According to Vachon, a close associate of Soros, a further 2 million has been channeled to America Votes, a campaign mobilization groups that keep its benefactors secret. George, the political philanthropist, has also given out another $1 million to several state-based groups that are not required by law to publish details of their sponsors.
George Soros has not only been directing his charity activities towards politics alone. He has made immense contributions on the international front, donating more than $13 billion to nonprofit organizations that look into the state of human rights and democratic process in the whole of Eastern Europe. He has also made philanthropic inroads into the health and education sector in the US and throughout the world.
Not even his son, Jonathan Soros, can explain his father’s sudden surge in political spending. However, George Soros’ recent writing about Trump may shed some light on the issue. The philanthropist suggests that to effectively fight terrorism, voters would do well to avoid the Republican presidential nominee whose approach to the problem was less than satisfactory.
There is a consensus that Soros has a soft spot for Hillary Clinton, something he may not have felt for the outgoing president. This could explain his long absence from the political front. However, not that Clinton is running for the presidency on the Democratic ticket, it is his time to flex his financial muscles.