Top Biden PAC receives funds from Bloomberg, Soros-backed group, and major donors
The main super PAC supporting President Joe Biden’s 2024 reelection, Future Forward, received significant financial contributions recently, with notable donors including Michael Bloomberg and organizations funded by George Soros. Bloomberg contributed roughly half of the $39.5 million raised by the super PAC in May. Additional substantial funds came from the Soros-backed Democracy PAC and late investor James Simons. This fundraising effort follows a report of a group linked to Democratic superlawyer Marc Elias, which funneled more than $2 million to Future Forward in April.
Despite this financial inflow, Future Forward faces criticism from some Democratic activists for not effectively using its resources to promote Biden’s agenda. The super PAC is reportedly planning a $10 million social media campaign to counteract Republican efforts highlighting Biden’s public gaffes. Meanwhile, the upcoming election, involving both Biden and former President Donald Trump, is expected to become the most expensive in history, with both campaigns aggressively raising funds.
The main super PAC supporting President Joe Biden‘s 2024 reelection campaign was cut large checks recently from Michael Bloomberg, a group bankrolled by George Soros, and other left-wing megadonors, new records show.
Future Forward, which can raise and spend unlimited sums to support Biden through advertising, hauled in $39.5 million in May, with roughly half of the money, $19 million, coming from ex-New York City Mayor Michael Bloomberg. The super PAC also received $5 million from the Soros-backed Democracy PAC and $6.6 million from James Simons, an investor who died one week after his donation, among other cash transfers, according to Federal Election Commission filings.
The haul comes one month after a Washington Examiner report on a mysterious and newly formed group linked to Democratic superlawyer Marc Elias funneling more than $2 million to Future Forward in April. But Future Forward, which has an affiliated nonprofit organization routing cash to the super PAC’s coffers, is also facing scrutiny from Democratic activists — some of whom say it is sitting on a large war chest but has taken limited steps to promote Biden’s agenda and platform.
Future Forward is raising at least $10 million to launch a social media campaign to push back against Republicans who have sought to highlight certain moments in which the president appears confused or awkward in public, according to a Thursday report. While Future Forward plots out how it will dish out the tens of millions of dollars it has on hand, the campaigns for Biden and former President Donald Trump aim to keep building out their own war chests ahead of what is expected to be the most expensive election in history.
But as the New York Times reported Thursday, Trump is rapidly outraising Biden after his felony conviction.
“Normal Americans who don’t eat, sleep, or eat politics look at what’s happening with this trial in New York and the sham conviction, and they’re terrified for their country,” Alex Bruesewitz, a Trump ally and Republican political consultant, told the Washington Examiner. “They don’t want this type of political system in our country. They want to protect our way of life and how we do things around here. And they want to protect democracy.”
Future Forward’s new campaign finance filing also lists donations from Chicago businessman Fred Eychaner, philanthropist Andrew Hauptman, venture capitalist Robin Donohoe, and Microsoft President Brad Smith.
The super PAC previously raked in $7 million from LinkedIn co-founder Reid Hoffman, among other Democratic megadonors.
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Trump is leading Biden by a slim 0.5 percentage points, according to a RealClearPolitics polling average.
Future Forward did not return a request for comment.
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