Billionaire George Soros Donates $1 Million to Racial Justice Organization

Billionaire and inventor George Soros recently provided a generous donation to a racial justice organization that supports defunding the police.

The Hungarian-born American philanthropist donated $1 million to the Color Of Change PAC on May 14, according to records from the Federal Election Commission.

The PAC refers to itself as the ‘nation’s largest online racial justice organization,’ calling for ‘divesting from and dismantling the systems that unjustly harm Black people.’

Soros routinely backs Democratic congressional candidates and attorneys general, and has made a string of financial contributions toward groups or candidates that advocate for defunding the police.

The Color Of Change PAC, which claims to have seven million members, has previously launched petitions to cut police department budgets in the wake of the killings of George Floyd and Breonna Taylor.

Their online petition states: ‘We know that policing doesn’t keep us safe, communities do. Policing doesn’t lead to thriving communities, investment does.

‘Communities are in desperate need of the things that keep us safe, housed and healthy, like investments in schools, jobs, affordable housing, parks, mental health services, community centers, and libraries.

‘But time and again, police budgets are bloated at the expense of our safety.

‘We must begin to envision the society that functions for ALL of us and we must begin by divesting from and dismantling the systems that unjustly harm Black people.’

The amount Soros donated was his most generous in 2021, and supported the organization’s efforts to minimize police budgets.

In February, Soros donated $2 million to Los Angeles District Attorney George Gascon’s campaign, who announced immense changes to his office’s law enforcement strategy immediately after assuming office.

In addition, Soros also funded Kim Gardner in Missouri, District Attorney Larry Krasner in Philadelphia, Kim Foxx in Chicago, and Rachael Rollins in Massachusetts, who was first woman ever elected as District Attorney in Suffolk County and the first woman of color ever elected District Attorney in Massachusetts.

Soros, the founder of Soros Fund Management, has an estimated wealth of $8.6billion.

It emerged last month that he payed zero federal income tax for three straight years between 2016 and 2018.

Confidential IRS records from the wealthiest people in the United States were obtained by ProPublica and published in June.

The report found that, overall, the richest 25 Americans pay less in tax than the average worker does.

Authorities are investigating the leak of the tax data.

‘Between 2016 and 2018 George Soros lost money on his investments, therefore he did not owe federal income taxes in those years. Mr Soros has long supported higher taxes for wealthy Americans,’ his spokesman said.