Occasionally, money doesn’t pay off, and George Soros, one of the richest men in the world, discovered that, when, despite massive donations to Hillary Clinton’s campaign, Donald Trump won the election for the US President. It was a shock to the political world and to those who had so lavishly supported her well organized campaign structure. With far more financial backing than Trump, due in part to George Soros, Clinton’s election was predicted to be almost a sure thing, but it didn’t happen. Presently, meetings are happening to determine how best to deal with the new scenario, and what part the large donors can most effectively play.
George Soros, a 85 year old, Hungarian born New Yorker, made his 24.9 billion dollar fortune through risky trading. George Soros became interested in American politics during the George Bush administration when he addressed issues of immigration. He felt strong reforms were needed in this area and in criminal justice. He was also concerned about religious tolerance and gave $27 million to the Democratic candidates and their platforms to defeat Bush.
His first venture into politics was not successful either, and he cut back for awhile, even as he became the leading financial backer of the Democratic party. In 2012, George Soros endorsed Clinton early and gave a donation to ensure that she run as the candidate. He had become good friends and determined that he would do everything possible financially to get her elected.
Read more: The Capitalist Threat
According to the Federal Election Commission and other sources, George Soros committed more than $25 million to Clinton and other Democratic candidates during the last campaign. He accused Trump of “doing the work of ISIS” with fear techniques and hostility, and he considered the election of extreme importance. He donated #7 million to a super PAC called Priorities USA Acton, and he was considering donating another $3 million to the group. He gave $2 million to American Bridge 21st Century, a super PAC researching Trump, and another $700,000 to other Democratic Party committees. A super PAC called Immigrant Voters Win received $3 million to increase voter turnout of Hispanic voters in key swing states. He also contributed $1.5 million to Senate Majority PAC boosting Democratic Senate candidates and to Planned Parenthood Votes, a PAC helping candidates supporting abortion rights. Obviously, George Soros was using his money to increase active involvement of many groups on the recent political scene. He was committed and felt strongly about the liberal issues that faced the voters in elections. He wrote in a statement “ it’s important to resist the siren song of the likes of Donald Trump and Ted Cruz” if the US is to effectively fight terrorism.”
Despite the loss of his candidate, George Soros remains a very dynamic and important figure in the list of wealthy Democratic supporters. Soon after the election, a meeting was called in a Washington DC hotel, to determine how best to meet the new challenges. The biggest financial investors were invited, which of course involved Soros. No pubic statement has yet been forthcoming.
Considering the complexity of the problems, it is very commendable that a man of Soros’s age and financial success, should still be so passionately involved in the liberal, political issues of our government. He looks to the future, with hope in reform and in the American way. Perhaps this speaks louder than his money, and gives credence to the value of the human spirit in the financial world.
Read more from George Soros over at NY Books