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Soros' son raises nearly $2M for super PAC

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By USA Today
Friday, July 12, 2013, 6:27 p.m.

WASHINGTON — A super PAC co-founded by George Soros' son has raised $1.8 million during the first six months of this year, the group announced this week. Its objective: to reduce the outsized role money plays in politics.

The fundraising haul by Friends of Democracy puts the super PAC on track to achieve its goal of collecting $5 million to back congressional candidates in 2014 who support overhauling the nation's campaign-finance system, said Jonathan Soros, who runs a private-investment firm. The Soros name is perhaps best known in politics for the big role George Soros played in the 2004 presidential election. The billionaire financier pumped $24 million into Democratic groups in that election in an unsuccessful effort to oust President George W. Bush from the White House.

Jonathan Soros said the irony of a Soros forming a super PAC to reduce the influence of super PACs is not lost on him.

“We've been a part of the system for a long time,” he said. “It doesn't mean the system is right. We are devoted to changing it.”

Jonathan Soros contributed $756,000 to the super PAC last year and says he is seeking a Republican “donor partner” in the next six months to balance the “notion that this is somehow about Democrats.”

Soros said he's out to prove that there are “genuine political consequences — for defending the status quo.”

He formed the super PAC with David Donnelly, executive director of the Public Campaign Fund.

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