Democracy PAC, the primary political arm of the Soros family, reduced its spending by over $14 million during the 2024 election cycle, campaign finance filings reveal.
Between January 1, 2023, and Election Day 2024, Democracy PAC spent about $67.5 million by pumping funds into political committees working to elect Democrats to Congress and the White House, according to campaign finance records. During the 2020 election cycle, the PAC paid out considerably more, disbursing over $81.5 million to an array of liberal organizations.
Notably, control of Democracy PAC changed hands between the last two election cycles.
The Wall Street Journal reported in 2023 that Alex Soros, the youngest son of billionaire philanthropist George Soros, had taken control of the PAC and that $125 million was earmarked for it. It is unclear what the younger Soros plans to do with the significant remainder of the funds.
Alex Soros’s political spending represents a departure from his father’s strategy in a number of ways. The younger Soros, for instance, appears to place less emphasis on criminal justice reform than the elder. While George Soros held the reins of Democracy PAC during the 2020 election, it doled out more than $4 million to a constellation of “Justice and Public Safety PACs” that were formed to help elect liberal prosecutors in major jurisdictions. Alex Soros, by contrast, directed just $131,000 to such PACs during the 2024 election cycle.
Further evidencing the Soros family’s step back from criminal justice, Alex Soros moved $60 million out of the Fund for Policy Reform, a criminal justice nonprofit group within the Open Society Foundations network he now controls, and poured it into Democracy PAC. The decline in criminal justice funding through Democracy PAC doesn’t mean that the Soros family is totally retreating from the issue as the philanthropic network continues to disburse grants in the area.
Of the 25 Soros-linked prosecutors up for election on Nov. 5, 12 lost their races, according to Fox News Digital.
Under Alex Soros, Democracy PAC tended to fund race-focused organizations. A committee named “Black PAC,” for instance, was the top recipient of Soros funds during the 2024 election cycle, taking in $15 million. Black PAC describes itself as an organization “dedicated to fighting racism and white supremacy, protecting our voting rights and access to the ballot box, and defending our neighborhoods from environmental racism, climate change, and violence.”
Black PAC spent millions developing and running advertisements supporting Vice President Kamala Harris and vulnerable Senate Democrats, according to campaign finance records. One video produced by the PAC implied that President-elect Donald Trump would have supported using violence to quash the civil rights protests. Trump won more black voters than any Republican in 48 years, according to CNN analyst Harry Enten.
Other racial committees funded by Democracy PAC during the 2024 electoral cycle included Black Voters Matter Action PAC, Black Men Vote, Color of Change PAC, AAPI Victory Fund, and Somos PAC, collectively taking in millions. Alex Soros also directed $1 million to the One for All Committee, a PAC that focused on persuading “moderate white women” to vote for Democrats in “key battleground states.”
George Soros also funded racially targeted PACs when heading Democracy PAC in 2020. Black PAC was his preferred group as well, taking in a little over $2.5 million that cycle, with other groups such as Color of Change PAC and Black Voters Matter Action PAC receiving millions more. George Soros shared his son’s commitment to funding abortion-related political committees such as Planned Parenthood Votes as well.
Despite decreasing Democracy PAC’s overall spending, Alex Soros directed more funds to mainstream Democratic committees than his father. Senate Majority PAC, Future Forward PAC, and House Majority PAC collectively received $24.5 million in Soros funding during the 2024 election cycle. The same trio of PACs took in just $17.5 million in 2020.
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Alex Soros has described himself as “more political” than his father. The Soros scion has indeed embedded himself more deeply in the Democratic establishment, getting engaged to high-level Democratic operative Huma Abedin earlier this year and scoring dozens of visits to the White House under President Joe Biden. The young Soros met with Democratic candidates throughout the election cycle while donating millions to them, the Wall Street Journal reported.
A spokesperson for the Soros family did not respond to the Washington Examiner’s request for comment.