Soros Plays Diverse Financing Strategy
Posted at 11:52 a.m. on May 3, 2013
Jonathan Soros, a senior fellow at the Roosevelt Institute, used his money in a diverse strategy of political marketplace activities during 2012 and the first quarter of 2013. The strategy involves using his funds elect Democrats, shoring up new Democratic freshmen in the U.S. House of Representatives, investing in his hybrid super PAC to spend against candidates, and supporting New York Gov. Andrew Cuomo’s plans for public financing of elections.
Jonathan Soros, CEO of JS Capital Management LLC and son of financier George Soros, was one of only two contributors who gave to seven of more House freshman during the first quarter of 2013. He gave $18,200 to a total of 7 House freshmen. This included $2,600 to each of the following: Ami Bera (D-Calif.), Pete Gallego (D-Texas), Joe Garcia (D-Fla.), Ann Kuster (D-N.H.), Dan Maffei (D-N.Y.), Patrick Murphy (D-Fla.), and Raul Ruiz (D-Calif.).
He also gave $2,600 to Act Blue earmarked for Sean Eldridge, a 2014 Democratic candidate in NY-19. Eldridge is the husband of facebook co-founder Chris Hughes.
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His hybrid super PAC, Friends of Democracy, raised and spent $2.5 million during the 2012 elections. Jonathan Soros gave $650,000 to the group, and his brother and sister gave a total of $390,000. The group made $1.75 million in independent expenditures against Republicans. As a hybrid super PAC, the PAC may also contribute to candidates.
The PAC had $36,664 cash on hand as of 12/31, and debts of $54,502. The PAC has not yet filed a first quarter report.