Billionaire Democrat George Soros is investing in gold amid rising concern over the state of the global economy, the Wall Street Journal reported on Wednesday.
The legendary currency speculator’s Soros Fund Management bought more than 19 million shares in gold giant Barrick in the first quarter of the year, making Soros the company’s top stockholder.
"That position has gained more than $90 million since the end of the first quarter," the Journal reported.
The article added that Soros is "anticipating weakness in various markets. Investors often view gold as a haven during times of turmoil."
Soros is reportedly steering his firm’s trading activity after taking a long hiatus from day-to-day management to focus on his political and philanthropic efforts.
The Hungarian billionaire is among the largest political donors of the 2016 election cycle, and is backing presumptive Democratic presidential nominee Hillary Clinton’s White House bid.