During the 2016 the highly contested presidential election between Democratic nominee Hillary Clinton and the current U.S. President Donald Trump, billions of dollars were donated to fund their campaign. One of the notable donors of Democratic candidates, and in particular Hillary Clinton’s bid for the most powerful seat in the world was George Soros. According to information found on Politico, the billionaire investor committed over $25 million to support Clinton’s campaign process. The businessman last donated towards political causes in 2004 when he spent close to $30 million to fund campaign against George W. Bush. The 86-year-old New York based investor has had a cordial relationship with Clinton of more than 20 years. Know more about George Soros on CNBC.
George Soros’ Political Engagement
During the 2008 and 2012 U.S. elections, George was not involved in funding political campaigns. However, he reemerged in 2016, and those close to him believed the businessman was more engaged politically than it has been during previous elections. They believed it was due to the trust he had in Hillary, and he accused Trump of stoking fears among the American and the world at large. According to Michael Vachon, Soros’ political adviser said the businessman has consistently funded Democratic campaigns, and last year, they expected him to increase his political stakes. Even before Donald Trump became the Republican nominee, George believed there was hostility from the Republican side more so on issues like immigration and criminal justice reforms as well as religious tolerance, issues that Soros is more concerned about.
George Soros Funding Activist Groups
According to financial statements analyzed by The Washington Times, George Soros was the main contributor to the Ferguson protest movement. The businessman has built a strong and successful empire supported by nonprofit foundations that advocate for change of the democratic space and policy implementation in the United States. Through several years of funding and creating awareness among civil groups in the U.S., Soros was able to spur the Ferguson protest. In total, Mr. Soros donated over $33 million within a period of one year in order to fund already established organizations engaged in grassroots activism for Ferguson protest. The figure was obtained from tax filings of his Open Society Foundations. Know more on investopedia.com about George Soros.
George Soros’ Biography
George is a prominent self-established billionaire recognized for his huge investments, in addition to funding philanthropic causes around the world. George was born in Hungary and later migrated to London in mid-1940s. Soros completed his studies in London where he earned a degree in economics, and in 1956, he moved to New York City. He kicked off his career as a financial expert at F.M. Mayer, a New York based brokerage firm. Thereafter, he worked for other firms until 1973, when he created his own firm, Soros Fund. The firm was renamed Quantum Fund and eventually Quantum Fund Endowment. Under the leadership of Soros, the fund achieved massive success, and in 2015, the businessman was estimated to have a net worth of $26 billion, ranking him 21st richest person globally. He founded Open Society Foundation in 1984 to champion for global initiatives like public health, education, media freedom and business development.