Billionaire Democratic kingmaker George Soros spent a staggering $102.8 million in the midterm election cycle — reportedly making him the largest individual donor to date and chief architect of the party’s seismic shift toward the radical left.
With the November elections still more than four months away, Soros could shatter his own spending record of $128 million set during the last midterms four years ago, when he was the biggest single donor.
“Money talks, and Soros money says the most insidious, unconstitutional, costly tax hikes in American history are on the table,” said Douglas Kellogg, state projects director for Americans for Tax Reform.
George Soros spent a staggering $102.8 million in the midterm election cycle so far, according to FEC data.AFP via Getty Images
Soros is a “wannabe Bond villain,” responsible for the radical takeover of the Democratic Party, he added.
Only a fraction of this cycle’s contributions — $793,800 — were made in the 95-year-old mega donor’s name, a review of publicly available Federal Election Commission data reveals.
Almost all of the money — $102 million — was funneled through the Democracy Political Action Committee, the super PAC Soros launched in 2020, which acts as the family’s main political arm, obfuscating efforts to know which radical candidates the clan is propping up.
And that’s without counting the family’s main organization, the Open Society Foundation — which funds efforts to decriminalize drugs, open the border and abolish the police — and its lobbying wing the Open Society Action Fund, which is even more obscure as it doesn’t have to disclose political spending because it’s registered as a nonprofit claiming to do mere advocacy work.
In previous election cycles, the Open Society Action Fund’s cash flowed to groups backing lefty stars like “Squad” Rep. Alexandria Ocasio-Cortez (D-NY) and embattled pal Rep. Ilhan Omar (D-MN), but its tax filings for 2025 aren’t yet available.
George Soros, 95, handed over the reins of his empire to his younger son Alex in 2023.Alex Soros/X
Control of the dark money Democracy PAC where the bulk of the family’s money went changed before the 2024 presidential election, with the elder Soros handing over the reins of his empire to his “more political” son Alex Soros, the fourth of five children.
“He wants to be more political than his dad, this is the first midterm cycle where he is in control,” Parker Thayer, investigative researcher at Capital Research Center, told The Post.
“George is not in control, he hasn’t been in control in some time.”
Donations made in the elder and younger Soros’ names were largely in step this cycle, backing many of the same left-wing candidates — with Alex Soros personally adding another $140,525 to the family’s midterm push.
The fat cat’s spawn also maxed out donations to Jimmy Choo-wearing Omar, who’s been slammed for allegedly knowing about the widespread fraud involving the Somali community in her Minneapolis district. Omar has denied wrongdoing.
In all, the Soros’ have already poured an eye-watering 52% more into the family political slush fund than in 2024, when they channeled $67 million into the Democracy PAC, according to campaign filings.
Omar received a direct maximum personal contribution of $7,000 from Alex Soros this midterm election cycle.Getty Images
George Soros, who President Trump singled out in September when he ordered the FBI to crack down on “left-wing terrorism,” has been the driving force behind extremist campaigns in the United States and abroad.
“The Soros family is angrier than ever at American politics,” said Thayer. “They would prefer to remake America into something entirely different.”
The family’s grant network has denied it’s a terrorist organization, insisting its mission is to strengthen democracy.
Just like his progeny, the Soros patriarch also gave a maximum contribution to Platner, and both father and son handed $7,000 each to Rep. Pramila Jayapal (D-WA), who last month admitted to sneaking oil into Cuba despite the US blockade.
“There are two guarantees in life — death and George Soros writing a blank check for Democrats,” lambasted Republican National Committee Spokeswoman Delanie Bomar.
“They don’t have the cash or resources that Republicans have, which is why they are turning to antisemitic dark money from a billionaire.”
Jayapal, who last month admitted to sneaking oil into Cuba despite the US blockade, is backed by both father and son.Ken Cedeno/UPI/Shutterstock
George Soros’ contributions make him the single largest individual donor in the 2026 midterm election cycle, a Washington Post analysis that looked at 49 other donors found.
Soros, born in Budapest to a Jewish family, moved to the United Kingdom after surviving the Nazi occupation of Hungary, and set up his first hedge fund, becoming known as “the man who broke the Bank of England” for making a profit of $1 billion shorting the pound during 1992’s “Black Wednesday.”
His native Hungary passed “Stop Soros” laws in 2018, forcing the magnate to move his Open Society Foundation’s European operations elsewhere.
His son Alex, a New York University graduate, was a longtime bachelor before marrying Former Hillary Clinton aide Huma Abedin in a glamorousHamptons wedding last summer, where A-list guests included famed Vogue editor-in-chief Anna Wintour, the Obamas and the Clintons.
Representatives for the Soros family did not immediately return The Post’s request for comment.
as Germany Risks Becoming a Contract Manufacturing Base for Chinese Automakers
Volkswagen faces its deepest crisis in a decade since Dieselgate Failed EV transition and weakening China operations fuel management turmoil German automakers seek revival through partnerships with Chinese firms
Volkswagen, once hailed as “Germany’s people’s car” and a dominant force in the global automotive industry, is confronting what may be the gravest crisis in its history. Internal voices within the group have gone so far as to acknowledge that the company’s current business structure is no longer sustainable. A failed electric-vehicle strategy and a rapid erosion of its position in China, formerly its most important market, have combined to shake the industrial giant at its foundations. Proposals now being discussed include sharing European factories with Chinese manufacturers. The German automotive industry, which once dominated the Chinese market, now finds itself contemplating the role of providing European production bases for Chinese EV makers.
Six of Nine Directors Warn of “Risk of Collapse,” Operating Margin Falls to 2.8%, Worst Since Dieselgate
According to a report by German business magazine Manager Magazin on June 18 (local time), citing the results of an internal survey submitted to Volkswagen’s supervisory board in April, six of the company’s nine directors described Volkswagen as being at “risk of collapse,” while the remaining three characterized the situation as “urgent.” All directors agreed that the current business model lacks profitability. Every board member also reportedly concluded that the company’s strategies in China and North America are not sustainable. Earlier, Chief Executive Officer Oliver Blume publicly referred to Volkswagen as a “restructuring case” (Restrukturierungsfall).
Volkswagen’s financial performance supports that assessment. Net profit for the first quarter fell 28.4% year over year to $1.80 billion. Operating profit declined 14.3% to $2.83 billion, while revenue slipped 2.5% to $86.96 billion. On a full-year basis, operating profit dropped 53% from the previous year to $10.24 billion, pushing the operating margin down to 2.8%. It marked the company’s weakest performance since the 2015–2016 Dieselgate emissions-cheating scandal, when Volkswagen incurred massive one-off costs.
The deterioration in earnings has translated into credit-rating pressure. Moody’s downgraded Volkswagen’s credit rating last year from A3 to Baa1, marking the first downgrade since the Dieselgate scandal a decade ago. Fitch currently rates Volkswagen at A-, while Standard & Poor’s assigns a BBB+ rating. Moody’s cited four factors behind its outlook: escalating trade tensions, structural challenges associated with the EV transition, intense competition in China, and software investment risks. The agency warned that operating performance would remain under pressure over the next 12 to 18 months.
China Sales Collapse as Critics Quip, “The Sausages Sell Better Than the Cars”
Volkswagen continues to struggle in China, one of its key markets, even as global EV demand loses momentum. According to China EV DataTracker, a Chinese EV market analytics platform, Volkswagen’s EV sales in China totaled just 4,552 units in January, down 71% from a year earlier. Sales of the flagship ID.7 electric sedan collapsed from 2,269 units last year to only seven units in January. As China’s auto market rapidly shifted toward electrification, Volkswagen failed to adapt to changing consumer preferences. Local brands such as BYD and Nio expanded aggressively through competitive pricing and technological innovation, sharply narrowing Volkswagen’s market position.
Cariad, Volkswagen’s automotive software subsidiary, has become a persistent burden. The company recorded an operating loss of $2.64 billion last year, an increase of $40 million from the previous year. Volkswagen established Cariad to support its transformation into a Tesla-style fully electric vehicle manufacturer. However, the software has been widely criticized for frequent glitches, touchscreen failures, and driving-related errors.
As Volkswagen Group’s efforts to vertically integrate its EV and software operations encountered setbacks, its market share steadily eroded. Persistent software problems were compounded by a lack of compelling new technologies and vehicle launches. The overwhelming brand power Volkswagen once enjoyed in the internal-combustion vehicle era has lost much of its effectiveness. Performance at its Chinese joint ventures deteriorated sharply, and a market that once generated a substantial share of group profits has become a growing liability. The company’s global sales foundation itself is under significant strain.
As Volkswagen’s management challenges deepen, some critics have begun mockingly referring to it as a “sausage company.” Since 1973, Volkswagen has produced its own currywurst sausages for factory cafeterias and regional sales in Lower Saxony, where its headquarters are located. Last year alone, the company sold 8.552 million sausages, approaching its vehicle sales volume of 9.037 million units. Commenting on the figures, German newspaper FAZ remarked that “sausage sales appear poised to overtake automobile sales,” adding that it was unclear whether this constituted good news or bad news for the company.
The Humiliating Reality Facing German Automakers
An even more painful signal is emerging from Lower Saxony, Volkswagen’s home base. State Premier Olaf Lies publicly proposed allowing Chinese automotive brands to manufacture vehicles in Volkswagen’s German factories. The suggestion reflects a growing sense of urgency: rather than treating Chinese EV makers solely as competitors, Germany could preserve jobs by producing their vehicles under contract at Volkswagen facilities. The fact that the leader of Lower Saxony—the state that serves as Volkswagen’s second-largest shareholder—would make such a proposal underscores the difficult reality confronting Germany’s automotive industry.
CEO Blume has also expressed support for the idea. He recently stated that “joint utilization of excess manufacturing capacity in European plants with Chinese companies could be a very intelligent solution.” After Blume previously identified defense-industry contracts and factory-sharing arrangements with Chinese firms as potential remedies for Volkswagen’s difficulties, speculation emerged that partnerships similar to those recently formed between global automakers and Chinese manufacturers could be under consideration. While Blume denied that any plans or discussions with Chinese manufacturers were currently underway, he acknowledged that a transition from Germany-centered export models toward localized production models in major markets, including China, had become unavoidable.
Volkswagen has already reduced production capacity by approximately one million vehicles and is moving forward with workforce reductions in Germany. Given the strong influence of labor unions, plant closures and restructuring efforts remain politically and socially difficult. As a result, management is examining shared production arrangements as a means of raising factory utilization rates. The company is also reportedly exploring expanded cooperation with Chinese partners. According to Euronews, Volkswagen is considering introducing vehicles jointly developed with SAIC Motor, FAW Group, Horizon Robotics, and XPeng into the European market.
The rationale behind such cooperation is clear. Volkswagen needs solutions to improve utilization rates at European factories, while Chinese automakers require local manufacturing bases to circumvent European Union tariffs on EV imports. In October 2024, the EU imposed definitive countervailing duties on Chinese-made battery electric vehicles. Additional tariffs of 17.0% for BYD, 18.8% for Geely, and 35.3% for SAIC Motor were added on top of the existing 10% import duty. By manufacturing within Europe, Chinese companies can reduce tariff exposure while improving access to subsidies and public procurement markets.
Such developments are already becoming reality across Europe. Chery Automobile has partnered with Spain’s EV Motors to begin vehicle production at the former Nissan plant in Barcelona’s Zona Franca district. A European automotive factory left vacant after Nissan’s withdrawal has effectively been revived as a production base for a Chinese brand. While the Chery-Ebro joint venture has been framed as a job-creation initiative, its industrial significance is far more consequential. Production facilities that Europe failed to preserve are being repurposed by Chinese manufacturers as platforms for expanding their presence in the European market. Stellantis, the world’s fifth-largest automaker, is likewise embracing a manufacturing role for Chinese firms. The company plans to produce Leapmotor’s B10 electric SUV at its Zaragoza plant in Spain. Hongqi, the premium marque under China’s Dongfeng Motor and FAW Group, is also expected to outsource production to Stellantis. Even with full awareness of China’s strategic ambitions, European automakers increasingly find themselves in a position where surrendering market share has become a growing risk.
House Oversight Committee Chairman James Comer, R-Ky., issued two subpoenas to Leon Black after Comer said the private equity billionaire refused to answer some of the committee's questions about convicted sex offenderJeffrey Epsteinduring Black's closed-door appearance before the panel Friday.
Black, who was appearing before the committee as part of its ongoing probe into the government's investigation of Epstein, walked out of his transcribed interview during questioning.
Comer told reporters that the two subpoenas compel Black to appear for a deposition on July 16 as well as produce purported nondisclosure agreements that he was questioned about.
"During today's voluntary transcribed interview, Mr. Black stated he wouldn't answer questions about NDAs. Answers about the terms and substance of these NDAs are critical to our investigation," Comer said. "We owe it to the American people to provide transparency and ensure accountability for survivors."
"NDAs are between him and other women. We want to know, was Jeffrey Epstein involved in the NDAs? Was he involved in writing? Was he involved in awarding funds to the women for the NDAs? What was the reason for the NDA? We don't know everything about the NDAs, so that's very important to our investigation, so the subpoenas were issued. We expect to see [him] back here in a few weeks," Comer said.
"This is very important for our investigation," Comer said. "We knew for a long time there were NDAs out there by various people. Obviously, they're very hard to obtain, and with this subpoena, we expect to get those NDAs in hand."
Asked about Black's responses during the interview, Comer said, "His response was that he wasn't allowed to discuss the terms of the NDAs."
Leon Black, a billionaire who was close with Jeffrey Epstein, walks out of the Rayburn House Office Building at the Capitol after his interview about Epstein with the House Oversight Committee, in Washington, June 26, 2026.
J. Scott Applewhite/AP Photo
Ranking committee member Rep. Robert Garcia, D-Calif., said he agreed with Comer's decision to issue the subpoenas.
"The NDAs are central to us understanding what actually happened. There are real accusations, and there are survivors who have accused Mr. Black of horrific things," Garcia told reporters.
Black's attorney, Susan Estrich, claimed to reporters that the decision to serve Black with the subpoenas during the interview was "a premeditated political decision" and claimed that Epstein "had no involvement" with the purported nondisclosure agreements.
"They made a premeditated political decision to serve him with subpoenas after less than an hour of questioning, and before they even asked a single question about his legitimate payments to Epstein," she said. "This was nothing more than a planned political stunt. Mr. Epstein had no involvement with any NDAs, whether they exist or not."
The latest in a series of rich and powerful people questioned about their relationship with Epstein as part of the Oversight panel's probe, Black maintained a social relationship with Epstein since the mid-1990s and eventually paid him more than $170 million for "tax and estate planning advice," according to the Senate Finance Committee.
Former CEO of Apollo Global Management Leon Black arrives to testify at a closed-door interview with the House Oversight Committee on Capitol Hill, June 26, 2026 in Washington.
J. Scott Applewhite/AP Photo
Black has denied wrongdoing or knowledge of Epstein's crimes, though his financial payments to Epstein served as a lifeline to the convicted sex offender in the years after Epstein's 2008 prison sentence for soliciting a minor for prostitution.
Rep. Suhas Subramanyam, D-Va., told reporters after Black's appearance, "This is the first time" a witness during this probe has walked out in the middle of an interview.
"It's because we had very important questions about Leon Black's past with Jeffrey Epstein," he said. "This is also the first time I heard someone gush poetically about how smart and how great Jeffrey Epstein was."
"He was smug," Rep. Yassamin Ansari, D-Az., said of Black's appearance. "He refused to answer the questions but at the same time was emphasizing how he was being transparent because this was voluntary. But when pressed on critical questions about his own sexual abuse and the allegations against him and nondisclosure agreements, he absolutely refused to answer these questions," she said.
Ansari said Black was "speaking fondly of Epstein while also claiming they were not close."
'Bona fide advice'
In his appearance before the committee Friday, Black said he was unaware of Epstein's "demonic life" and that the money he paid Epstein was for legitimate services and "bona fide advice," according to a copy of his opening remarks reviewed by ABC News.
Black's prepared remarks during his closed-door interview cast him as the victim of "ugly and vicious" narratives around Epstein, saying he has been the subject of baseless allegations and conspiracy theories about Epstein and that "extraordinary damage has been done to me and my family."
"I wish I had never met Epstein. I regret ever doing business with him. My association with him, the frivolous but destructive litigation, the endless rumor mill, have created a toxic environment for my wife and family, which I deeply regret," the prepared remarks said.
Addressing the massive amount of money he paid Epstein, Black, in his remarks, said those were legitimate payments and that he was never blackmailed by Epstein.
"Let me state unequivocally that I have never abused a woman. I have never been with an underage woman. I have never engaged in sex trafficking. I have never paid Epstein for access to women. I was never blackmailed by Epstein. I was not involved with, and had no knowledge of, any of Epstein's heinous conduct," his prepared remarks said.
According to Black, Epstein lived a "Jekyll and Hyde" existence and that he, at first, only saw the positive side, including his "unrivaled network of relationships with individuals in finance, academia, science, politics." Black, in his remarks, said his relationship with Epstein began as personal but grew over time to helping manage his family investment office.
"With hindsight, I now see that Epstein exaggerated, embellished, manipulated, and outright lied -- prolifically and without concern for me or my family. And I now see that his deceit was not limited to me but also extended to numerous highly sophisticated individuals," Black's prepared remarks said.
While Black said that Epstein "took credit for other people's ideas" and made false claims about investments, Black also argued Epstein was able to resolve "a massive estate problem" for him that "would have destroyed enormous value." According to Black's remarks, he originally thought he was paying Epstein $95 million in net fees, though that was actually $158 million because Epstein lied about the tax deductibility of the payment.
Black also said in his prepared remarks that he was aware of Epstein's 2008 conviction for soliciting a minor for prostitution, but that Epstein lied about the nature of the crime.
"Epstein told me that it was an isolated incident resulting from a fake ID. Five years after his conviction, I gave Epstein a second chance, as did many others. I wish I had not," he said, according to his prepared remarks.
According to Black, he cut ties with Epstein in 2018 after Epstein failed to repay most of a $30 million loan. Black said he grew "tired of his relentless pursuit of more and more money from me for professional services."
While Black, according to his remarks, said that he was "glad" to answer the committee's questions, he noted that he will "not speak about the personal lives of adult women" that he believes should not be connected to Epstein.
"I am here to voluntarily answer questions about the work that Epstein did for me and for the services for which I paid him. I am not here to answer questions about my personal life which would be hurtful to my wife, children and family. And I will not speak about the personal lives of adult women who have not chosen, and do not deserve, to be connected, by me or anyone else, to Epstein," Black said, per his remarks.
'The most groundbreaking deposition'
Comer told reporters before Friday's proceedings that Black's appearance "could be a pretty significant" interview.
"So, of all the witnesses that have come thus far, this one has the potential to be the most groundbreaking deposition, in my opinion," Comer said.
"There's a lot of concerning things in the documents. There are a lot of statements from the survivors that are very concerning as well, with respect to Mr. Black," Comer said.
The chairman said the committee would ask Black "hundreds and hundreds of questions about financial transactions, about bank violations, about emails, documents, pictures, and communication with survivors."
Comer said the committee's investigation is "on a timeline."
"This Congress will expire the end of this year, so we want to certainly get done as quickly as possible, said Comer, who added that "we hope" acting Attorney General Todd Blanche will sit for an interview.
"I'll remind everyone the purpose of our investigation to get the truth to the American people and determine how the government failed the survivors by not prosecuting Epstein," Comer said.
Garcia told reporters prior to Black's appearance that Epstein "would not have been able to commit the horrific crimes without the support of Mr. Black."
Rep. Suhas Subramanyam, D-Va., said, "We want him to answer the tough questions about what he knew about Jeffrey Epstein and whether he was involved with some of the crimes himself."
"Leon Black was one of Jeffrey Epstein's primary sources of income, flooding him with cash at a time when he was already a registered sex offender. Black has not yet offered a compelling explanation regarding the origination and execution of Epstein's extraordinary compensation scheme for alleged tax advice," Sen. Ron Wyden, the ranking member of the Senate Finance Committee, wrote in a letter to the House Oversight Committee earlier this month. The Senate Finance Committee is leading its own investigation of Epstein's finances.
Former CEO of Apollo Global Management Leon Black arrives to testify at a closed-door interview with the House Oversight Committee on Capitol Hill, June 26, 2026 in Washington.
Kevin Dietsch/Getty Images
Black has long been scrutinized over his relationship with the disgraced financier -- describing it as a "horrible mistake" -- and was forced out of his firm, Apollo Global Management, following an external investigation that revealed payments to Epstein totaling at least $158 million.
"Knowing all that I have learned in the past two years about Epstein's reprehensible and despicable conduct, I deeply regret having had any involvement with him," Black said during a 2020 Apollo earnings call. "With the benefit of hindsight, working with him was a horrible mistake on my part. I am not seeking to excuse that decision, but I do believe it may be helpful to convey some relevant facts."
While the investigation concluded that Black and others were aware of Epstein's 2008 conviction, a report summarizing its findings said that Black was not "involved in any way with Epstein's criminal activities at any time" or aware of the "scope and details" of Epstein's sex trafficking. Black has never been charged with a crime.
"When Black first retained Epstein, he believed that Epstein had served his time for the originally charged offenses and believed that it was not inappropriate to give Epstein a second chance, as many other prominent figures in business, science, politics and academia had done," the report said.
'Saving you from yourself'
The release of the Department of Justice's Epstein files earlier this year cast more scrutiny on Black, whose name appears in the files more than 8,000 times. Epstein at one point appeared to serve as a middleman to pay $100,000 to a woman with whom Black allegedly had an affair, according to emails included in the files, and routinely served as a fixer for issues involving his finances.
"Leon, as you are well aware, there is little I won't do for you or at least try to do as a friend, and a great deal that I have already done (both known and some things that will need to remain unknown)," Epstein wrote to Black in a 2014 email. In another email in 2017, Epstein described his relationship with Black as "saving you from yourself."
In a statement to ABC News, Black's attorney Susan Estrich pointed to the external investigation conducted for Apollo that found Black "had no awareness of the criminal activities that led to Epstein's arrest in 2019" and noted that Black has called for an independent investigation of his relationship with Epstein.
Wyden of the Senate Finance Committee has called on the House Oversight members to scrutinize the $170 million that Black paid Epstein between 2012 and 2017 for purported tax and estate planning. According to Wyden, those payments are sixty times more than what Epstein paid his other tax and estate professionals during the same timeframe.
"Black is a well-advised businessman with access to sophisticated attorneys, yet it appears Epstein was able to shake him down for money that he wasn't legally owed. This suggests that Epstein may have extorted Black or performed other unseemly tasks on his behalf," Wyden wrote earlier this month.
Attorneys for Black have pushed back against Wyden's accusations, accusing him of harassment and saying that the billionaire has cooperated "voluntarily and without compulsion."
"We are aware of no other private citizen subjected to more written requests from you over the same period," Black's attorneys wrote in an April 2026 letter to Wyden. "Your continued attempts to invade into matters pertaining to Mr. Black's personal life -- without the support of any legitimate legislative purpose -- appear targeted to unfairly harass Mr. Black in a manner that completely disregards the proper scope of Congress's investigative powers."
According to the 2021 external report, Epstein was paid proportionally to the amount of money he saved Black and that Epstein "provided advice that conferred more than $1 billion and as much as $2 billion or more in value to Black"; however, the report also acknowledged that Epstein's advice was often not useful and that he was "generally a disruptive and caustic force."
The external report said investigators found "no evidence suggesting that Black ever compensated Epstein for any service other than Epstein's legitimate advice on trust and estate planning" and other issues.
