Alex Soros took to X Wednesday night to affirm his support for President Joe Biden as Democrats grapple with his poor polling and mental acuity.
Soros became the chairman of Open Society Foundations, a sprawling $25 billion philanthropic network, after his father, George Soros, designated him as his successor in 2023. While Soros may be willing to throw his support behind Biden, 11 Democratic members of Congress and numerous liberal pundits have called for the president to drop out of the race following his debate performance on June 27, according to the New York Times.
“Let’s stop running against ourselves and run against the existential threat that is Donald Trump,” Soros wrote. “Biden-Harris 2024!”
Under George Soros’ leadership, Open Society Foundations was a major player in American elections. The Open Society Policy Center, the 501(c)(4) advocacy arm of the Soros network, donated $140 million to political causes ahead of the 2022 midterm elections, according to CNBC.
Alex also now directs Democracy PAC, the Soros network’s primary political committee, which has $125 million set aside for its operations, according to the Wall Street Journal. Democracy PAC spent $81 million during the 2020 election cycle, according to Federal Election Commission (FEC) records.
Democracy PAC operates primarily as a donor to other PACs, with the committee in 2020 giving $2 million to Future Forward PAC, one of the largest super PACs supporting Biden, according to FEC records.
Soros has described himself as “more political” than his father and stated that he intends to use the vast influence network he has inherited to boost Democratic politicians and to expand access to abortion, the Wall Street Journal reported.
Soros’ support comes at a time when Biden is facing intense scrutiny from within his party with Whitney Tilson, a longtime Democratic donor, saying that there is “almost no support” left for the president to remain the party’s nominee.
“I think that the dam has broken and that more and more people will come out publicly,” Tilson said in early July. Following Biden’s debate performance, some Democratic donors have begun shifting money away from the president and toward down-ballot races to hedge against what they view as an increasingly likely defeat in the race for the White House.
One group of Democratic donors has pledged $2 million to hold new debates if Biden drops out.
Soros isn’t alone in his continued support for Biden as former Bill Clinton pollster Mark Penn said on Monday that Democrats would “commit suicide” by trying to replace Biden.
“The party is going to get in line or commit suicide trying to undo his nomination, because he isn’t going anywhere and nobody is going to be taking the 25th Amendment and no one is taking him out of office,” Penn said. “None of those things are happening. And so he’s the nominee and I think they are making that clear and I don’t think anyone in the party has any power to change that.”
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