Latest News 08-12-2022 18:46 19 Views

George Soros drops another $50M donation to Dem PAC, doubling midterm spending

Billionaire George Soros dropped a final $50 million donation to a top Democratic super PAC this week, reportedly doubling his contributions from the 2022 midterm cycle.

Soros made the contribution to Democracy PAC, which is expected to use the funds to help Democrats prepare for the 2024 election cycle. The single donation matches the $50 million total he spent on the 2022 midterm elections, distributed among candidates and PACs across the country, according to Politico.

Soros' midterm donations reportedly made him the single-largest donor for Democrats in 2022, and his donation this week shows he intends to remain a major player in the next cycle.

The Democracy PAC advertises itself as a supporter of pro-democracy candidates 'regardless of party.' Soros' son, Alexander, has also served as the PAC's president, and Soros himself reportedly donated $125 million to the organization in January 2021.

News of the donations comes days after Alexander was among top Democratic donors invited to the White House for the lavish state dinner with French President Emmanuel Macron last week. Alexander donated $700,000 to the Biden Victory Fund, a small fraction of his father's donations.

Vice President Kamala Harris also attended a conference for the Democracy Alliance last week, a secretive group of top Democratic donors who help steer the party's agenda. Soros is a member of the organization.

Democracy Alliance members must donate at least $200,000 annually to groups vetted and approved by the coalition. According to internal documents obtained by the Washington Free Beacon, the alliance has recommended its members use a billion-dollar dark money nonprofit network managed by the Arabella Advisors consulting firm, which receives millions to provide administrative, operational, and management services to the four nonprofit incubators in the nexus.

The organization is widely known for supporting Media Matters for America, the Center for American Progress, and well over 100 others.

Fox News' Joe Schoffstall and Cameron Cawthorne contributed to this report 

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