Federal Election Commission (FEC) filings reveal that the radically liberal billionaire George Soros has poured a record $52 million into this year’s election cycle.
Soros reportedly increased his political spending through his Democracy PAC, which he created last year in order to enable him to pump large sums of money into liberal groups. FEC filings show that the PAC sent out $17 million last quarter, bringing its total cash disbursements this cycle to $48 million. Soros also donated another $4 million directly to Democratic campaigns without putting this money through his PAC, bringing his total spending on this election cycle so far to $52 million, according to The Washington Free Beacon.
The very same Democratic candidates who are benefiting from Soros’s millions are the same people who have been blasting the influence of money on politics lately. Presumptive Democratic presidential nominee Joe Biden’s own website even includes his promise to “reduce the corrupting influence of money in politics.”
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“We could improve our politics overnight if we flushed big money from the system and had public financing of our elections… Democracy works best when a big bank account or a large donor list are not prerequisites for office,” the website continues.
This kind of hypocrisy from the Left has been called out by members of the Right over the past few weeks.
“While Democrats across the country sanctimoniously rail against the influence of dark money in politics, their party’s largest donors are bankrolling a massive web of liberal organizations to get them elected,” one GOP operative said earlier this month. “George Soros’s unprecedented spending further highlights just how dependent Democrats are on contributions from billionaires, despite their hypocritical rhetoric.”
Soros has taken steps to obscure his spending on this election cycle by not donating under his name. Instead, he’s gone about donating by transferring tens of millions from the Fund for Policy Reform, a $750 million nonprofit in his large Open Society Foundation network, into Democracy PAC. This PAC then sends the money to the Democratic candidates and groups, allowing Soros to keep his name off the donor list.
Earlier this year, Soros discussed how important he feels this election is, claiming that the “fate of the world” is at stake. He also called President Donald Trump a “con man” and an “authoritarian” who is “willing to sacrifice the national interests for his personal interests.”