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2016 Was A Comeback For George Soros

A Long Hiatus
In 2004 when George. W Bush was up for reelection George Soros didn’t believe he would win. When the unthinkable did happen the shock sent George Soros reeling and discouraged him from involving himself in politics. Further disappointment came in the presidency of Barack Obama. Soros had hoped that Obama would take a more liberal approach than he pursued. It seemed as if Soros would never push for the left ever again. However, 2016 and the presidential campaign of Hillary Clinton changed everything. After she secured the Democratic nomination Soros throw in his support for the first time in years.

Standing With Her
The support George Soros is showing for Hillary Clinton is a throwback to his support of her husband Bill Clinton in the 90s. Starting with $8 million his support served as a bellwether for other progressive donors. These donors piled on so much money that Hillary Clinton was eventually able to claim the wealthiest campaign in American history. Meanwhile her opponent Donald Trump had only half as much money. It seemed as if everything was going her way.

Standing Up For The Migrants
While the campaign contributions George Soros made towards Hillary Clinton’s presidential bid were impressive, his efforts to support the recent wave of migrants in Europe was actually much larger. Using $500 million euros of his fortune Soros placed money into programs designed to help migrants integrate into their host countries and start up businesses. Reflecting on his own experience building up his fortune after surviving the Holocaust Soros wants these migrants to follow the same path he took. Unfortunately, the recent rise in populism and nativist rhetoric spells trouble for this outcome in the European migrant crisis.

Read more: George Soros’ quiet overhaul of the U.S. justice system

Recovering From A Shocking Defeat
In the end the political landscape of 2016 was a major disappoint for George Soros. Donald Trump won the presidency of the United States and Brexit marked a major victory for the European Right. These victories have left others shocked as well. Most indicated the Hillary Clinton had a popular vote lead and British polls taken just before the Brexit vote seemed to favor the stay campaign. Nonetheless, Soros is not taking these victories the way he took the results of the 2004 election. Instead he is turning to old alliances to seek a way to stage a comeback.

The Democratic Alliance Strikes Back
At the very least Soros sees a possible comeback for the American left. Turning to the Democratic Alliance, a group George Soros formed in 2005 to engage other left wing donors into the political process, he now seeks ways to defend the progress the left has made and ways for Democrats to hold public office again. Among those attending these meetings are the likes of Democratic party players such as Nancy Pelosi. Beyond these meetings Soros has recently made efforts to combat a major issue in this election: fake news. He and his progressive friends have donated money to help Facebook create its fake news filter program.

Find the stories about George Soros on Politico.com
Read more about George Soros’s life on Biography.com