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Soros-backed orgs supported by invite-only club of billionaire donors received millions in PPP loans

Democracy Alliance backed groups accepted up to $20.7 million in PPP funds

Published: July 13, 2020 10:06am

Updated: July 13, 2020 4:57pm

More than a dozen groups backed by the donor network Democracy Alliance, co-founded by George Soros, sought and received millions of dollars in Paycheck Protection Program loans during the coronavirus shutdown. 

The 18 groups received as much as $20 million among them. The partner-founders of the Democracy Alliance recently plotted out a $275 million spending plan ahead of the 2020 elections. 

Notably, Soros-backed liberal watchdog group Media Matters for America received a loan of $1 million to $2 million. Media Matters reported receiving nearly $15 million in contributions on its most recent tax filings.

Many of the other Soros-backed groups that applied for and accepted the forgivable government loans run multi-million dollar, anti-Trump networks. The Center for Popular Democracy, for instance, which received $1 million to $2 million in PPP funds, leads an $80 million anti-Trump network. 

Members of the Democracy Alliance pledge to donate a minimum of $200,000 annually to organizations backed by the club. While organizations involved with the group have become more publicly known in recent years, members of the Alliance remain secret for the most part. The club is invite-only and has been connected to billionaires Tom Steyer, Donald Sussman, as well a real estate investor Patricia Bauman and Scott Wallace.

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