George Soros might be one of the most well-known names when it comes to philanthropy. After fleeing communist Hungary in 1947, he attended the London School of Economics. After graduation, he found himself in the United States of America. In 1979, he began to provide money to those in apartheid South Africa who wished to attend Cape Town University. His active philanthropist lifestyle started with that simple act, and has grown to the point where he is one of the biggest contributors to American political campaigns.
With the 2016 political campaigns running in full swing, the presidential candidates are strong and many. Noteworthy candidates – for one reason or another – include Donald Trump, Hillary Clinton, and Bernie Sanders. Soros has made where his political alliances lie quite clear this year.
He donated $6 million to a PAC that supports presidential hopeful Hillary Clinton at the end of 2015. In total, Forbes billionaire Soros donated $8 million to Clinton’s funds for the presidential race. All of the money went to Priorities USA Action. The donation meant that for 2015, the PAC raised $41 million, and had $36 million to start off with in 2016.
This donation is quite a shocker. In 2004, he donated over $20 million to support George W. Bush. When that effort ended in a disastrous failure, he dialed back how much he gave to political people by a considerable amount. In 2012, Priorities USA Action received only $1 million from Soros in support of Obama instead of Clinton. Later on, he was heard telling an ally – who supported Clinton in the 2008 presidential race – that he regretted supporting Obama over Clinton. He even praised Clinton for allowing him to discuss policy with her. Emails released in December 2015 confirm at least this much.
As the 2016 presidential election race comes into full swing, Soros’ donation is sure to be taken as a green light for other philanthropists to donate to Priorities USA Action. The gateways for over $1 billion more in donations has been opened, but only time will tell if that flood will come.