Foreign billionaire exploiting ‘loophole’ to promote leftist policies in US, warns watchdog. Potential new George Soros?

A Swiss-born Left-Wing Billionaire Exploits Loophole to Influence American Politics

A recent report by Americans for Public Trust reveals that Hansjörg Wyss, a Swiss citizen and biotechnology magnate worth an estimated $4.9 billion according to Forbes, is using a legal “loophole” to exert his influence on American politics. Wyss has funneled over $475 million through two non-profit organizations, the Wyss Foundation and Berger Action Fund, which then donate to left-wing advocacy groups in the United States.

Under the Internal Revenue Code, the Wyss Foundation and Berger Action Fund are incorporated as 501(c)(3) and 501(c)(4) organizations, respectively. This allows them to accept foreign donations and contribute to political causes. The majority of the funds have been directed to the Arabella Advisors Network, a for-profit consultancy that manages “dark money” donations from left-wing donors.

Swiss Billionaire Hansjörg Wyss has funneled nearly $500 million into the liberal dark money network, largely managed by @ArabellaAdvisor.

He’s exploiting the “foreign influence loophole” to skirt the ban on foreign nationals influencing US elections. https://t.co/5ZyfyHrN8H pic.twitter.com/zdndwM97Qv

— Americans for Public Trust (@apublictrust) July 10, 2023

Wyss’ nonprofits have provided funding to prominent left-wing groups such as Planned Parenthood, the National Redistricting Action Fund, and the Sixteen Thirty Fund. These organizations play a significant role in advancing a progressive agenda, shaping policy debates, and influencing American elections.

While current federal law only allows U.S. citizens, noncitizen U.S. nationals, and foreign nationals with lawful permanent residency to donate to political candidates, parties, and PACs, Wyss has found a way to exploit this “foreign influence loophole” to support his preferred political agenda.

It is worth noting that billionaires George Soros and Pierre Omidyar, who also support left-wing causes, have utilized Arabella Advisors to manage their philanthropy. However, unlike Wyss, they are U.S. citizens.

Wyss, a long-time resident of Wyoming, has not disclosed his immigration status in the U.S. According to The New York Times, he co-founded and serves on the board of directors of the Center for American Progress, a left-wing nonprofit described by Politico as the “most influential think tank of the Biden era.”

In 2021 alone, Wyss’ nonprofits directed $62.7 million towards advancing the Biden administration’s political agenda. The report also highlights instances of potentially illegal political activity, with Wyss donating $120,000 to Democratic candidates between 1990 and 2006, although he was never prosecuted due to the statute of limitations.

Thank you Hansjörg Wyss for your transformational gift to support the Institute, ensuring that we can continue to make a positive impact on the world for years to come. @WyssCampaign https://t.co/XgxpwOoEEL

— Wyss Institute (@wyssinstitute) November 11, 2022

Wyss’ left-wing views are openly expressed in his biography, written by his sister, Heidi. She states that Wyss aims to reinterpret the U.S. Constitution in light of progressive politics.

While a representative of the Wyss Foundation and Berger Action Fund claims that the groups do not engage in political campaigns, Arabella Advisors has not responded to requests for comment.

The post A New George Soros? Watchdog Warns Foreign Billionaire Is Using ‘Loophole’ to Push Leftist Policies in US appeared first on The Western Journal.

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