The 2016 US Elections saw George Soros make a huge comeback in the political funding circles. According to a report published by Politico on July, 2017, the renowned billionaire and avowed supporter of the Democratic Party committed over $25 million to support Hillary Clinton and downstream candidates and causes espoused by her party. The move was seen as a huge turnaround, since his unprecedented offer of in $27 million campaign donation to support the John Kerry’s unsuccessful presidential bid in the 2004 elections. To further shore up his backing, the 85 year old billionaire planned to attend the Democratic Party Convention in Philadelphia, but cancelled the trip a few days earlier to monitor the situation in Europe. Close confidants have intimated that Soros decision to turn up the heat was informed by his fervent support for Clinton and fear of GOP rival, Donald Trump. Know more on cnbc.com about George Soros.
In the recent past, Soros has accused of many ills, including supporting ISIS aims by stoking fears. Mr. Michael Vachon, one of Soros political advisors added that the emergence of Trump on the political scene meant the things Soros cared about like religious tolerance and criminal justice and immigration reform would be sent to political periphery. The Hungarian born, New Yorker has amassed a fortune of over $24 billion mostly through risky currency trades. The decision by Soros to support Clintons’ candidacy in the 2016 Elections also saw other big money liberals chime in with big checks. The other donors include; Tom Steyer, a San Francisco based environmental activist; Don Sussman, a New York hedge funder and media moguls Fred Eychaner and Haim Saban. Tom Steyer offered $31 million while Don Sussman gave $13.2million to a number of committees and campaigns supporting Hillary Clinton. George Soros is a staunch adherent of free market ideals.
In a 1997 article appearing on The Atlantic magazine, Soros wrote extensively about the threat of laissez faire capitalism even though he made his money in the free markets. He argued that unfettered intensification of laissez faire capitalism and free reigning market values would unlike anything else endanger the prevailing democratic and open society. The other threat was communism with permeated across much of the USSR and the Eastern Bloc countries. To this end, Soros established Open Societies to support civil society activities in his native Hungary, an excerpt on Wikipedia reveals. The organization was also tasked with promoting human rights and freedom of expression. Soros interest in philanthropy can be traced back to the 70’s, when he began offering scholarships to black students in South Africa to attend the University of Cape Town. The Open Society Foundations has been spending about $500 million annually to support many other initiatives including immigrants and refugees. Visit his profile on Twitter.