George Soros, a billionaire hedge fund manager from Hungary, may seem like an unlikely champion of liberal politics in Washington DC. He came from humble beginnings, fleeing his native Hungary at a young age in order to attend the London School of Economics. He later entered the world of fund management in New York with his own hedge fund in 1969. Today he is worth around $25 billion and is one of the most influential men in both the financial and political realms.
Soros shocked in the 2004 Presidential election when he backed the Democrats to the tune of $27 million, then an extraordinary amount for one individual to donate. When the Democrats lost that election he downsized his super donations. That is, until the most recent election where he once again backed Hillary Clinton with donations of $21 million, making him the twelfth biggest donator last year.
The reason for his ramp up in spending last year is, in his own words, due to the threat that Donald Trump posed to the US. A successful immigrant and testament to what can be achieved by immigrants to the US; it isn’t difficult to see why Soros would be so critical of Trump.
Just last September he pledged $500 million to businesses founded by refugees in the US. No doubt in direct response to the anti-refugee and anti-immigration rhetoric of the Trump campaign. There’s no doubt that George Soros will put his money where his mouth is. If donating to the democrats doesn’t help then he might as well do it himself, as the 19th richest man in the world he certainly has the capital to do so.
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In a post President Trump world the question remains what will George Soros do next? Whether it is the “Muslim ban” that keeps being blocked, the drastic cuts to vital departments or the rollback of climate friendly initiatives someone like George Soros could certainly help to mitigate these issues significantly.
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