The Daily Beast Says George Soros Does Not Fund #BlackLivesMatter

Rumors about George Soros’ financial involvement with Black Lives Matter may be greatly exaggerated. According to an article written by Ben Collins for The Daily Beast, rumors naming Soros as the bankroller of the movement are just wrong.

Ken Zimmerman, director of U.S. programs at Open Society Foundations, said Soros did not give money to the three activists who created the #BlackLivesMatter hashtag. The Foundations focus on building societies with accountable governments where all people can participate in civic engagement in an open society. Soros founded the nonprofit organization in 1979.

In his article, Collins pointed out that #BlackLivesMatter has caused disruptions for Republicans and Democrates. He cited interrupted speeches by Bernie Sanders and Jeb Bush.

Bill O’Reilly gave fuel to the fire on July 28 during a segment on his Fox News show, The O’Reilly Factor. His guest, Kelly Riddell, an investigative reporter for The Washington Times, detailed her research connecting Soros with #BlackLivesMatter. She concluded that because Soros’ nonprofit funds organizations that employ the three activists who started the movement, Soros’ indirectly funded #BlackLivesMatter. Riddell even had a specific dollar amount: $33 million.

Some of the disruptions linked to #BlackLivesMatter and George Soros had no official ties to the movement until the action was taken. According to a recent report by The Daily Beast, #BlackLivesMatter founders did not know ahead of time that local activists would interrupt Sanders’ speech. Another angle linking Soros to disruptions of Sanders’ speeches is his history of fundraising for Hillary Clinton. Sanders’ recent gains in the polls could be seen as a threat to Clinton’s campaign and the $2 million Soros has raised in PAC money.

Zimmerman said Open Society Foundations does not fund protests. Their approach to grant making is to continually look for new voices of platforms ranging from immigration to criminal justice reform. Zimmerman confirmed that the Open Society Foundations has donated money to groups working on issues related to the movement. According to Zimmerman, there is no way to direct funds to something without a structure.

According to Forbes.com, George Soros is ranked #16 on the Forbes 400 list. He is #29 on Forbes Billionaires list; #19 in United States; and #2 on the Forbes list of Hedge Fund Managers. As a teenager, he survived the Nazi-occupation of Hungary and fled to England.

A profile written by Richard Loth on Investopedia details Soros daring move that gained him international notoriety in September 1992. Risking $10 billion on a single currency speculation, he shorted the British pound. His move resulted in a profit of almost $2 billion. He is internationally known as “the man who broke the Bank of England.”

 

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