Billionaire investor George Soros is one of the largest contributors to American politics and now it seems as though he is throwing his considerable wealth behind Democratic presidential candidate Hillary Clinton.
In a recent article Politico reported that Soros has given $6 million to a super PAC that supports Clinton’s campaign. This latest contribution brings Soros’s total political contributions to $8 in all of 2015. All of that money went to pro-Clinton organizations.
The contribution has garnered much attention and not just for the amount. Soros is considered a kingmaker in Democratic politics, where his money goes others are soon to follow. He is one of the few people who are willing to spend up to eight figures in one election cycle. Back in 2004 George Soros contributed $20 million to an organization that tried unsuccessfully to remove then-president George W. Bush.
The super PAC on the receiving end of Soros’s money is called Priorities USA Action. According to the Federal Election Commission, Priorities USA Action raised over $41 million in 2015.
According to Politico, during the 2012 election cycle Soros only gave $1 million to Priorities USA despite the group’s continued requests. At that time the super PAC was dedicated to getting President Obama re-elected. The report states that Soros regretted supporting Obama over Clinton in the 2008 Democratic Primary.
Many political pundits view Soros’ large contribution as an encouraging sign for the Democrats. It is well known that many conservative billionaires are planning to spend more than $1 billion on the Republican side of the 2016 presidential election. It seems now that the Democrats could raise enough money to compete with them.
Soros is most famous for going eye to eye with the British government in 1992 and forced them to devalue the Pound. He made, by some estimates, $1 billion on that single trade. He has spent most of his time lately running his Open Society Foundation, which seeks to make government more transparent and defend human rights for all citizens around the world.