Billionaire philanthropist George Soros is making waves in the 2024 election cycle with a $60 million donation to Democracy PAC, the Daily Mail reported.
This is the second-largest contribution in the upcoming 2024 elections.
His funding targets a spectrum of progressive causes and candidates, amplifying the stakes in the ongoing political battle.
Hungarian-born tycoon George Soros has significantly shaped the political landscape of the 2024 election and solidified his stance as a formidable force in backing Democratic initiatives.
The second-largest contribution thus far in the campaign underscores Soros' commitment to advancing progressive agendas and candidates nationwide.
In January 2022, he bestowed $125 million upon Democracy PAC. As the second quarter commenced, Democracy PAC boasted $39 million in its coffers.
According to filings with the Federal Election Commission, Soros' largesse extends to various sectors, including bolstering the campaigns of congressional Democrats, advocating for pro-choice movements, and supporting black candidates in down-ballot races.
Democracy PAC allocated a substantial portion of the donation, funneling $21 million to a constellation of super PACs during the first quarter. Notable beneficiaries included the "House Majority PAC" and the "Senate Majority PAC," each receiving $4 million.
Furthermore, Soros' philanthropic arm allocated $2.5 million apiece to "Planned Parenthood Votes" and "Black PAC," organizations pivotal in championing reproductive rights and fostering diverse representation in state-level governance, respectively.
His latest investment underscores a concerted effort to fortify progressive platforms and amplify marginalized voices in the political arena. Despite conservative apprehension over Soros' influence, his substantial donations catalyze progressive mobilization and ideological advocacy.
Beyond political contributions, Soros' financial endeavors extend into the media realm. Recent investments in Audacy, a prominent radio company, have sparked speculation of an expanded presence in the audio landscape. This strategic maneuvering underscores Soros' multifaceted approach to shaping public discourse and influencing the electoral narrative in the lead-up to the 2024 election.
This development has ignited concerns about the influence wielded by an ultra-progressive billionaire during the 2024 election season.
Super PACs aligned with GOP candidates also unveiled their financial standings for the first quarter. The Senate Leadership Fund, a prominent supporter of Republicans, disclosed raising $27 million during this period, amassing a significant $60 million cash reserve by the quarter's end.
Notable contributions to the fund include a $7.5 million donation from Citadel's Ken Griffin, alongside substantial financial backing from entities within the energy industry. Occidental Petroleum Corp. contributed $2 million, with Chevron Corp. and Trevor Rees-Jones, the billionaire proprietor of Chief Oil & Gas LLC, each providing $1 million.
The American Petroleum Institute also contributed $1.5 million, while venture capital firm Andreessen Horowitz offered $250,000 in support.
According to the Bloomberg Billionaires Index, Soros' wealth is estimated at around $7.2 billion.