George Soros on politifact, the famed pro-liberal billionaire was recently alleged to be bankrolling the campaign of one of the Republican contenders for that party’s U. S. presidential nomination. According to the fact-checking website Politifact.com, several pro-Ted Cruz (another Republican contender) television ads recently ran in Wisconsin saying that “Millionaires working side by side with George Soros are bankrolling his (Kasich’s) super PACS”.
While it is true, according to federally mandated campaign finance reports, that two of George Soros former employees have given a total of $650,000 to Kasich’s super-PAC New Day for America. The former chief investment officer for Soros Fund Management, Scott Bessent, has donated $200,000 to Kasich’s PAC, and $2,700 directly to the Ohio governor’s campaign. Bessent left Soros’s firm in 2015 on http://www.politico.com/story/2016/01/hillary-clinton-george-soros-218494 to form his own hedge fund, with $2 billion in backing from Soros. Another asset manager, Stanley Druckenmiller, contributed $ 450,000 to New Day for America last year. Both have also contributed heavily and routinely to the Republican National Committee (RNC), and other conservative PACs.
While some donors have played the strategy of backing one party’s candidates who would pose a lower threat to their preferred candidate, that does not appear to be happening in this case. Nowhere does George Soros’ name appear on any of the campaign funding documents. While some claim a conspiracy, Politifact has labeled the claims as false.
George Soros is widely known to support democrats and liberal causes. Forbes listed Soros as one of the 10 wealthiest individuals with a net worth in excess of $23 billion. Much of that was gained from shorting the stock of the Bank of England.
Soros is originally from Hungary. He moved to London where he obtained his education from the London School of Economics. Starting out, Soros found getting a position in the investment banking field on Forbes difficult and actually started his career as a dry-goods salesman calling on shops in the Welsh seaside. He wrote to a number of investment banks asking for interviews. During some of the few chances he was given to apply for positions, he was humiliated, a lesson he never forgot.
Today, Soros is very active in charitable causes, but his primary focus is in the political arena. He has worked hard for advancing immigrant issues across the world, ending apartheid in South Africa, promoting the democratization of many African and Eastern European countries, and has been a supporter of marijuana legalization.
Soros has historically backed democratic nominees for the U. S. Presidency. He is a vocal critic of George W. Bush and donated large sums to groups opposing his reelection. In the current election, Soros seems to be favoring Hillary Clinton and has donated to both her campaign and various PAC’s supporting her nomination.