It’s no secret that money talks.
For years we’ve heard about billionaires George Soros and Tom Steyer using their wealth to finance liberal advocacy groups that sought more voters for the Democratic Party and advocated for former President Donald Trump’s impeachment.
Left-wing activist and Swiss billionaire Hansjörg Wyss has remained more inconspicuous — but he’s acting as one of the more formidable forces behind the Democrats’ causes.
According to The New York Times, Wyss’ “tax filings show that two of [his] organizations, a foundation and a nonprofit fund, donated $208 million from 2016 through early last year to three other nonprofit funds that doled out money to a wide array of groups that backed progressive causes and helped Democrats in their efforts to win the White House and control of Congress last year.”
His organizations also donated millions of dollars to groups that opposed the Trump administration, including the Center for American Progress and Priorities USA, and those that support Democratic voter turnout, the report Monday said.
The Swiss billionaire’s political influence goes beyond his support of liberal advocacy groups, however.
Wyss’ funding also built liberal media outlets — including CourierNewsroom.com — that worked to undermine Trump during his presidency, primarily aiming to prove he colluded with Russia and advocating for his impeachment, the report said.
The Times also said many officials from Wyss’ organizations have worked for President Joe Biden’s transition team or his administration.
With his immense political influence on behalf of the left, we can only wonder how Wyss went unnoticed for so long.
He appeared to enter the spotlight last month when he became one of the highest bidders for the Tribune Publishing newspaper chain before dropping out.
But now that we dig deeper into his financial shenanigans, we see just how much influence a wealthy donor can have over the political realm.
Ironically, many of Wyss’ donations could be curtailed as congressional Democrats and Biden push to restrict “dark money” spending, which is essentially money that comes from nonprofit organizations.
Progressives typically claim to oppose “dark money” spending, but wealthy donors such as Wyss continued to fund the Democratic Party at over double the rate of the Republican Party during the 2020 election cycle, according to the Center for Responsive Politics.
It found that organizations spent over $1 billion in “dark money” during the 2020 election, and the money primarily boosted Democrats.
“Anonymous donors poured record amounts of money into groups backing President Joe Biden in the 2020 contest, leaving the public without a full accounting of who helped him win the White House,” the center said.
It’s interesting to note that Biden’s campaign raised over six times the amount of “dark money” that Trump’s re-election campaign did.
It’s also ironic to see how many wealthy donors the Democratic Party flaunts as progressives incessantly preach about income equality and the evils of “big money” in politics.
Will the Democrats surrender their “dark money” influxes in the future?
If they wish to practice what they preach, that wouldn’t be a bad idea.
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