George Soros-linked organizations donated $102 million to Democracy PAC ahead of the midterms, according to Federal Election Commission records. About half came from Geosor Corp, a private investment company owned by Soros, and the other half came from the Fund for Policy Reform, a nonprofit tied to Open Society Foundations.
Democracy PAC has already spent nearly $42 million as of the end of June, according to FEC records. The money has gone to groups involved in Senate, House and state races, a structure that allows Soros money to flow into organizations concentrated on competitive contests as Democrats try to close a fundraising gap with Republicans.
Yet the political environment has not stood still. Democrats are now polling ahead, with an 11-point advantage over Republicans among likely voters in Emerson College’s Sept. 24 poll. The Cook Political Report also found Democrats leading 49% to 47% in 37 competitive House races. Those districts backed President Donald Trump by an average of five points in 2024, which suggests Democrats have improved their position in some of the seats most likely to decide control of the House.
The $102 million contribution extends a long pattern of nine-figure political giving. Fortune reported that Soros gave Democrats $128 million in the 2022 midterm cycle, making him the biggest contributor that year, according to OpenSecrets. Democracy PAC also raised more than $81 million during the 2020 election cycle and nearly $72 million during the 2024 cycle, according to FEC records.
This is the first congressional election cycle since George Soros transferred control of his political operation to Alex in 2023. Alex backed Kamala Harris in 2024 and urged Democrats to unite behind her. Other family members have also financed left-leaning groups, including $1 million from Jonathan Soros and $100,000 from Andrea Soros to Friends of Democracy in 2013, according to FEC records.
Soros’s political giving has also drawn scrutiny from the Trump administration. Last year, Trump accused George and Alex Soros of backing 'Violent Protests' and instructed federal prosecutors to prepare to investigate Open Society Foundations. The organization called that accusation 'outrageous and false.'
For free enterprise readers, the lesson is simple. Political money follows power, and power follows the rules written by institutions that now depend on massive fundraising. Capital rewards clear rules, but in politics the incentive is often to spend more to shape those rules. That leaves the taxpayer, the market, and the country with a system where influence is concentrated long before voters cast their ballots.
