Liberal billionaire George Soros has funneled nearly $70 million into the 2020 elections, tripling his previous record, new filings show.
The Democracy PAC, a super PAC created by Soros to fund left-wing groups working to defeat Republicans, has poured $68.5 million into electoral efforts this cycle, according to the Federal Election Commission. That sum is $46 million more than Soros's previous high of $22 million, which came during the last presidential cycle.
The billionaire has amplified his election spending as deep-pocketed donors attempt to oust Trump from office and flip control of the Senate to Democrats. Soros's cash is part of a spending blitz that has primarily benefited Joe Biden. So far this cycle, outside spending has exceeded $1 billion and is on track to shatter previous records.
Soros's largest donations include $3 million to the Strategic Victory Fund, a super PAC tied to the Democracy Alliance donor club, of which Soros is a founding member; $1.5 million to both the Chuck Schumer-aligned Senate Majority PAC and progressive women's group SuperMajority, which is primarily bankrolled by the financier; and $1 million to the Working Families Organization. Soros's PAC disbursed $23 million to left-wing groups from the beginning of July to late September.
The cash is part of a $275 million spending plan set forth by the Democracy Alliance, according to confidential documents obtained by the Washington Free Beacon last year. Members of the donor network are pushing large sums into increasing voter turnout, targeting women and rural voters, and flooding battleground state efforts, among other initiatives.
The Democracy PAC is primarily funded by tens of millions of dollars transferred over from the Fund for Policy Reform, a nonprofit in Soros's sprawling Open Society Foundations network. The fund reported $3 billion in assets on its most recent tax forms. This set up allows Soros to keep his name off the top of donor lists. The Democracy PAC is currently sitting on $6.4 million.
During a speech to the World Economic Forum earlier this year, Soros said the "fate of the world" is at stake in the 2020 elections. He also referred to Trump as a "con man" and "authoritarian."
Soros's spokesperson did not respond to a request for comment on the 2020 election spending.
Published under: 2020 Election , Democracy Alliance , George Soros , Open Society Foundations