Billionaire George Soros will donate $125 million to help Democrats in midterms, report shows

Billionaire philanthropist and Democratic mega donor George Soros is putting $125 million into a super PAC (political action committee) to support Democrats running in November’s midterm elections and beyond.

The 91-year-old Soros, who made his fortune in hedge funds, is infusing the money into the Democracy PAC, which he set up in 2019 to serve as his main political action committee to support Democratic causes, candidates and committees. Soros channeled roughly $80 million into the group during the 2020 cycle.

“I established Democracy PAC to support causes and candidates, regardless of political party, who share a mission of protecting and strengthening the infrastructure of American democracy: voting rights and civic participation, civil rights and liberties, and the rule of law,” he said. 

“I have endowed Democracy PAC with a long-term investment so that it can continue this important work in the future.”

This year’s midterms, which will determine who controls the House and Senate for the second half of President Joe Biden’s term, are expected to break spending records. George Soros’s son Alex will serve as the PAC’s president.

“With this gift, he is making the same kind of long-term commitment to American democracy,” he said.

“Events of the last two years, particularly the January 6th insurrection and ongoing efforts to discredit and undermine our electoral process, reveal the magnitude of the threat to our democracy. It is a generational threat that cannot be addressed in just one or two election cycles.”