George Soros, the hedge fund investor, and multi-billionaire does not want the White House to be a Republican stronghold for the next four years. Soros spent more than $27 million of his vast fortune in 2004 to defeat George Bush, and when that didn’t work, he stopped donating that much money to political campaigns. But this year is different. Soros has donated more than $25 million in 2016 to elect Democrats on nytimes.com that are on local ballots in six states. Soros has donated more than $8 million to several super PACs that are Clinton backers. The rest of the money has been donated to several campaigns to elect House and Senate representatives as well as prosecutors in state elections.Soros is not the only wealthy donor that supports Clinton’s bid for president, according to an article published by politico.com. The politico.com article mentioned Hollywood millionaire Haim Saban as well as Donald Sussman and Herb Sandler as well as other Democrats that want a Clinton win in November.
The Clinton campaign has received donations from several super PACs, and the people close to Soros say he’s ready to donate more money to make sure she is the next president. But Soros doesn’t limit his donations to Democrats in the United States. The Soros Open Society Foundation supports Democratic causes all over the world.
When Soros is not focused on Democratic issues, he spends a great deal of time attending economic summits and other forums that discuss the status of the global economy. Soros has been predicting a global recession for the last three years, and he believes the recession is now a reality. The European Union’s banking system is in trouble, and the recent news that Deutsche Bank is facing a $14 billion fine confirms the Soros prediction. If Deutsche Bank fails, the repercussions of that failure will ripple through the international financial system on wsj.com. But Soros believes China is still the main culprit that is instigating a worldwide recession. China has already put South American and Asian countries in recession mode, and the United States is just steps away from a negative GDP percentage.
At 86-years-old, Soros is still considered one of the best hedge fund managers on the planet. His family hedge fund has more than $25 billion in assets under management on cnbc.com. The Soros fund recently made a huge investment in the gold market. The fund sold several high-revenue producing stocks and invested in the gold mining. When George Soros invests in an asset like gold, other investors know something big is going to happen and they invest with him.