Billionaire George Soros has donated $102 million to support Democratic candidates ahead of the 2026 midterm elections, according to Federal Election Commission records reported by fortune.com. The funds were channeled through Democracy PAC, founded by Soros in 2019, with about half coming from Geosor Corp, Soros's private investment firm, and the other half from the Fund for Policy Reform, a nonprofit under Soros's Open Society Foundations.
Democracy PAC has already spent nearly $42 million by the end of June, targeting Senate, House, and state races, fortune.com noted. This funding structure allows Soros to direct resources toward competitive races where Democrats face a fundraising disadvantage against Republicans. The Open Society Foundations board is chaired by Soros's son, Alex Soros, which oversees the nonprofit contributing to the PAC.
The donations come as Democrats have gained ground in key races. Emerson College's September 24 poll showed Democrats leading Republicans by 11 points among likely voters. Additionally, The Cook Political Report found Democrats ahead 49% to 47% in 37 competitive House districts that had previously supported Donald Trump by an average of five points in 2024, indicating improved Democratic positioning in crucial battlegrounds.
Democracy PAC's targeted spending and Soros's financial backing have contributed to narrowing the fundraising gap Democrats face this election cycle. The next major fundraising disclosure will be available after the October 15 FEC reporting deadline, providing updated figures on campaign financing ahead of the November midterms.