Political leanings: Democratic
2024 spending: $82 million, combined
Democracy PAC and Democracy PAC II are liberal super PACs created by billionaire George Soros to fund political organizations that help elect Democrats.
Michael Vachon, who has been an adviser, spokesperson and chief of staff for Soros, is the treasurer of Democracy PAC, which was created in January 2019, and Democracy PAC II, which was formed in July 2021. As super PACs, both can accept unlimited donations.
Since it launched, Democracy PAC has been solely funded by Soros or companies or organizations he created. As of June 30, the super PAC had received more than $102 million for the 2026 election cycle, according to its most recent financial report to the Federal Election Commission. About half of its money came from Geosor Corp., a private investment company that Soros has long owned. The other half came from the Fund for Policy Reform, a nonprofit that Soros founded as part of his Open Society Foundations, which describes itself as “the world’s largest private funder of independent groups working for rights, equity, and justice.”
The board chairman of the Open Society Foundations is Alex Soros, one of George’s sons, who was chosen by his father in 2023 to take over his philanthropic and political operations. The New York Post reported in June that the Soros network was on pace to surpass its previous donation record of $128 million during the 2022 election cycle.
In the 2026 cycle, Democracy PAC, according to FEC records, has so far used more than $40 million of its funding to make large contributions to other Democratic-aligned groups, including Senate Majority PAC, Strategic Victory Fund IE PAC, J Street Action Fund and AB PAC, which is also known as American Bridge 21st Century. Democracy PAC has also contributed millions to several committees working to elect Democrats at the state level.
Meanwhile, Democracy PAC II had both received and donated about $1.6 million as of the end of June, FEC records show. But it had more than $121 million cash on hand, money left over from a $175 million donation that George Soros made to his secondary super PAC during the 2022 election cycle.
During the 2024 election cycle, Democracy PAC gave more than $67 million to other groups, and Democracy PAC II distributed an additional $9.6 million.
Senior Writer D’Angelo Gore contributed to this article.
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