George Soros, the billionaire megadonor, has set up a super PAC for Democrats and has seeded the 2020 campaign fund with $5.1 million, according to paperwork filed with the Federal Election Commission.
The 88-year-old financier intends to use the Democracy PAC to distribute money to other organizations and not create his own political group as some other billionaires have.
”He has, unlike Tom Steyer or [Michael] Bloomberg, funded things like Senate Majority PAC and Priorities USA and EMILY’s List and Planned Parenthood and expects to continue to do so,” a person familiar with the new organization told Politico.
The $5.1 million check more than doubles the $2.1 million Soros gave to political causes during the same point in the 2016 presidential election.
He became one of the Democratic Party’s largest individual donors, giving more than $20 million.
Other members of the Soros family, including his son Alexander Soros, a philanthropist who founded the Alexander Soros Foundation and who’s also become a major Democratic donor, might also contribute to the Democracy PAC, Politico reported.
*story by New York Post