George Soros came back to the limelight of political spending by funding the Democratic politics in the States. He committed over $ 25 million in donations to the campaign of Hillary Clinton and other Democratic candidates. Soros, a self-made billionaire, estimated to be worth over $ 24.9 billion continued his charitable activities towards the Democrats as the election neared. People close to the businessman said that he seemed more interested and engaged in the countries politics than ever before. Sources say that his participation in the countries politics, and especially Clintons, was due to his faith in her presidency and the fear of Donald Trump’s. According to his political adviser, Soros is a donor for the Democrats, but his recent emergence was due to the exceptionally high political stakes. Becoming a political financier to the Clintons side sowed seeds of more donations from other wealthy activists. Read this story at Politico about George Soros.
His connection and influence were bound to catalyze giving from other sources. By June 2016, Soros had donated $ 7 million to PACs supporting the Clintons presidency. It is reported that he made an additional $ 3 million to the group making it the largest donation according to FEC filings. Additionally, George Soros funded the American Bridge 21st Century with $ 2 million, an institution that targeted Trump and other Republicans. He committed an additional $ 5 million to Immigrant Voters Win, a foundation that seeks to mobilize voter turnout in low-Hispanic regions. Before the end of the election time, Soros had committed over $ 4.5 million to fight the Conservative efforts of restricting voting. Read more on NYTimes.com.
George Soros is a native of Hungary and was born in Budapest in 1930 to Tividar and Erzebat Schwartz. After the country occupation by the Nazis had become evident, his father made plans that saw him live with a government official. In 1947, Soros family moved to England where he studied economics at London School of Economics. It was in this institution that he met his mentor and teacher Karl Popper. After Graduation, he got a job at a brokerage firm where he learned international arbitrage. After four years, he moved to London, and his journey to prosperity began.
It was until 1979 when George Soros started the road of philanthropy. In 1984, he founded an open society foundation in his country of birth. The Open Society Foundation sought to foster the growth of vibrant and tolerant democracies whereby governments are accountable to the people. In 1987, he began donating large sums of money to nonprofit groups. In a span of one year, his philanthropic spending rose from $3 million to over $ 300 million. In 1993, he opened OSF, a foundation through which he extends his charity to nations across the globe. Today, Soros continue to fund several charities. Additionally, he makes political donations to the Democratic Party candidates in the States.