The landscape of the U.S. Presidential election has recently undergone a major change that has not been seen since the 2004 election when iconic hedge fund manager George Soros made a great splash with his political donating. Over the course of the 2004 election George Soros donated over $20 million to Democratic campaigns in a bid to defeat Republican President George W. Bush, but the failure of the election campaign prompted Soros to reduce his political giving during the 2008 and 2012 election campaigns.
In 2016, George Soros has returned to political giving in a way few expected with over $25 million provided to the campaign of former Secretary of State Hillary Clinton on nytimes.com for her bid to become the first female President of the U.S. Aides close to the former First Lady have revealed Soros has privately admitted making a mistake in supporting President Barrack Obama during the 2008 Presidential nomination process; Soros was a prominent absentee from lists of donors during the 2012 reelection campaign of the President, and reportedly gave only $1 million to the campaign of President Obama.
George Soros has spent almost $25 million over the course of the 2016 Presidential election cycle with a number of donations made to Super PAC’s supporting the Democratic nominee for the Presidency. Understanding the election process is something George Soros has become an expert in through his work with the Democracy Alliance, which was established in 2005 to focus the work of left leaning political donors on specific areas of election campaigning; Soros has provided almost $5 million towards the Immigrant Voters Super PAC, which is dedicated to increasing the number of minority voters attending the polls who have traditionally supported Democratic candidates and policies.
The second coming of George Soros as a political donor comes at a time when the survivor of the Holocaust during World War II has also returned to active investing at the age of 85. A legend in the hedge fund industry, Soros made a major splash during the 2004 Presidential campaign when he provided around $27 million in funding in a bid to defeat incumbent President George W. Bush; many believe the work of Soros as a donor during the 2016 election campaign on Forbes shows the faith he has in Clinton after being provided with open door access to the Presidential candidate over future policy decisions.