The last election cycle saw the billionaire businessman and philanthropist; George Soros makes a huge splash in the campaign financing front. According to a report that appeared on Politico on July 2016, Soros committed over $25 million to support Democratic Party Presidential candidate Hillary Clinton and other Democrats downstream. The billionaire had scaled down his political giving in 2004, when he donated $27 million in an effort to defeat President George Bush. Confidants close to him say the tally was likely to be higher by the time elections are held. Soros also confided that he will grace his first Democratic Convention to watch Clinton officially become the Democratic Party nominee for president.
The 86 year old Hungarian born billionaire who is based in New York has had a long standing relationship with the Democratic Party and Hillary Clinton. One of his political advisors, Michael Vachon told the press that Soros support for the Democratic Party causes had moved a notch higher in the 2016 election cycle. Many see his latest political push as informed by his faith in Clinton’s candidacy and fear of Donald Trump, the GOP nominee for President. Soros is enraged with Trump and has accused him of a number of things, including support for ISIS. Before his nomination, Soros camp feared the Republican Party nominee for president will reverse most of issues Soros cares about when he is elected the president.
Soros has been a staunch supporter of immigration reforms, religious tolerance, and criminal justice reforms among other things. The support by Soros to Clinton and the Democratic Party was seen as a catalyst that would spur more donors and activists with deep pockets to chime in. The elite group donors who made their donations known include New York hedge funder Don Sussman, San Francisco environmentalist Tom Steyer, and media entrepreneurs, Haim Saban and Fred Eychaner. At the time, Tom Steyer had donated $31 million, Don Sussman $13.2 million and Haim Saban and Fred Eychaner had offered slightly over $11 million each.
An excerpt on Forbes magazine estimates Soros real time net worth as of March 2017 to be $25 billion. The brief profile reveals that Soros studied at the London School of Economics while working as a railway porter and waiter. He later moved to New York and soon headed to Wall Street. Armed with $12 million, Soros established his own hedge fund in 1969. In 1992, he famously shorted the UK pound and made $1 billion. The feat earned his the moniker, the man who broke the bank of England. George Soros remains an active trader and is the Chairman of Soros Fund Management (SFM) and the Open Society Foundations (OFS). The latter supports various philanthropic efforts from civil rights to democratic governance.