Soros Group Gives $60 Million to Super PAC That Boosts Democrats

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(Bloomberg) -- A nonprofit founded and funded by billionaire George Soros donated $60 million in January to Democracy PAC, a super political action committee he uses to support Democrats, according to a filing with the Federal Election Commission.

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Democracy PAC spread $21 million to a dozen super PACs in the first quarter, including $4 million donations to both the House Majority PAC and the Senate Majority PAC, which support congressional Democrats. It gave $2.5 million to Planned Parenthood Votes, and the same amount to Black PAC, which engages with Black voters to elect candidates in down-ballot races, including governors, attorney generals and lawmakers, according to its website.

Soros’ group is among the political organizations, including super PACs and joint fundraising committees that support President Joe Biden and his Republican rival Donald Trump, that have to disclose their first-quarter finances Monday. Those reports are due to be filed to the FEC by midnight New York time.

Other donations by Democracy PAC’s include $500,000 for Americans for Contraception Victory Fund and $1.8 million for American Bridge, which has pledged to spend $140 million to help reelect Biden.

The $60 million donation from Soros’ group, called the Fund for Policy Reform, is the second largest so far in the 2024 election cycle. A state-level PAC that supported Florida Governor Ron DeSantis’ 2022 reelection donated $82.5 million to Never Back Down, which backed his unsuccessful Republican presidential bid.

It’s also not the single biggest check Soros has written to a political committee ever. He gave Democracy PAC $125 million in January 2022.

Democracy PAC started the second quarter with $39 million in the bank. Soros’ fortune is worth about $7.2 billion, according to the Bloomberg Billionaires Index.

Super PACs that back GOP candidates are also disclosing first quarter financial results. The Senate Leadership Fund, which backs Republicans, raised $27 million and ended the first quarter with $60 million cash on hand.

Citadel’s Ken Griffin gave it $7.5 million, while energy industry companies and executives gave millions more. Occidental Petroleum Corp. gave $2 million, Chevron Corp. and Trevor Rees-Jones, the billionaire owner of Chief Oil & Gas LLC each gave $1 million, and the American Petroleum Institute gave $1.5 million. Venture capital firm Andreessen Horowitz gave $250,000.

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