Left-wing billionaires are funneling eye-popping sums into a super PAC aligned with Senate Majority Leader Chuck Schumer in a bid to maintain control of the upper chamber of Congress.
Democracy PAC II, largely funded by billionaire George Soros, reportedly contributed $2.5 million to the Senate Majority PAC on June 22, with previous donations of $3.5 million in 2022 and $2.5 million in 2021, totaling $6 million, according to records.
George Soros' Democracy PAC II spent $9.4M of its $138M war chest in the first half of 2023, sending $6.8M to other cmtes (including $2.5M to Chuck Schumer's Senate Majority PAC, $2.25M to American Bridge, $1M to the Democratic House Majority PAC), ending w/$129.4 million on hand pic.twitter.com/3dELQ90unP
— Rob Pyers (@rpyers) July 31, 2023
While Soros is the prominent figure, experts suggest that a cohort of liberal billionaires is actively supporting Democratic Senate candidates, marking a significant shift in the political landscape.
Senate Majority PAC, which advocates for Schumer, has amassed $37 million in the first half of this year, benefiting greatly from Soros’ group.
NEW FEC $100K+ CONTRIBUTIONS
DEMOCRACY PAC IIhttps://t.co/wmi1PUeoKC pic.twitter.com/OhKPvWu3Op— CATargetBot (@CATargetBot) January 31, 2022
Between February and June alone, Soros’ contributions provided the Schumer-linked political action committee with a boost of $16 million, amplifying its financial strength.
Prominent liberal donors include Stephen Mandel, the founder of Lone Pine Capital, a hedge fund management company based in Connecticut.
Hedge fund billionaire Stephen Frank Mandel, Jr of Lone Pine Capital gave $1,000,000 to the Lincoln Project
— Jack Poso 🇺🇸 (@JackPosobiec) January 31, 2021
He donated $3 million to Senate Majority PAC in June, ranking as his second-largest federal donation. Similarly, Netflix Chairman Reed Hastings channeled $2 million to the PAC in May, adding to his total contributions of around $8 million since 2014.
Fred Eychaner, founder of Newsweb Corporation, and Jeffrey Skoll, former eBay president, have also made notable contributions, with Eychaner donating $2 million and Skoll contributing $1.5 million in the same month.
Some of the top donors to Lincoln Project:
Sequoia Capital
Lone Pine Capital
Aberdeen Inc
David Geffen Co
Bain Capital
Geolo Capital
Senate Majority PAC
Sixteen Thirty Fund
Do Right Inc— Jack Poso 🇺🇸 (@JackPosobiec) January 31, 2021
Amid these funding efforts, the Senate Majority PAC’s president, JB Poersch, highlighted the significance of their fundraising endeavors, framing them as essential to counter Mitch McConnell’s candidates in the 2024 cycle.
Records reveal that Alex Soros, the heir to his father’s financial empire, has been an active supporter of Schumer and the PAC, having met Schumer multiple times and donating over $5.5 million from 2016 to 2018.
Soros’ Democracy PAC II, established in 2021, operates under the treasurer Michael Vachon, who serves as a spokesperson for Soros. The PAC’s involvement in funding various liberal initiatives underscores its broader engagement in shaping policy and political landscapes through financial contributions.
