A New George Soros? Watchdog Warns Foreign Billionaire Is Using 'Loophole' to Push Leftist Policies in US
A Swiss-born left-wing billionaire is using a “loophole” in federal law to exert influence on American politics by funding two 501(c) non-profit groups, according to a new Americans for Public Trust report.
Hansjörg Wyss, a citizen of Switzerland and biotechnology magnate with an estimated net worth of $4.9 billion per Forbes, has sent more than $475 million of his money to two nonprofits, which then transmit funds to “left-wing advocacy groups” in the United States, according to the APT report released Saturday.
The two organizations — the Wyss Foundation and Berger Action Fund — are incorporated under 501(c)(3) and 501(c)(4) of the Internal Revenue Code, respectively, which allow them to accept foreign donations and donate to political causes.
Most of the money has been directed to the Arabella Advisors Network, a for-profit consultancy that manages “dark money” donations from left-wing donors, according to the APT report.
Wyss’ nonprofits have funded prominent left-wing nonprofit groups such as Planned Parenthood, the National Redistricting Action Fund — a group led by Obama administration Attorney General Eric Holder that supports lawsuits to redraw congressional districts drawn by Republicans — and the Sixteen Thirty Fund, a venture capitalist-style fund that incubates social justice organizations, per the report.
🚨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
“These groups utilize their significant resources to advance a progressive agenda, mold policy debates and decisions, and ultimately, influence American elections,” the report said.
Currently, only U.S. citizens, noncitizen U.S. nationals and foreign nationals with lawful permanent residency in the United States may donate to political candidates, parties and PACs, with foreign nationals being criminally barred from such donations, according to the Federal Election Commission.
Billionaires George Soros and Pierre Omidyar, who have supported left-wing causes, have also used Arabella Advisors to manage their philanthropy, according to Fox News — though they are both U.S. citizens.
Wyss is a long-time resident of Wyoming, though his immigration status in the U.S. is unclear, according to The New York Times.
Apart from donations, he also co-founded and sits on the board of directors of the Center for American Progress, a left-wing nonprofit that Politico described as the “most influential think tank of the Biden era.”
Wyss’ co-founder, John Podesta, is currently a senior adviser to President Joe Biden on climate issues, and the group’s immediate past president, Neera Tanden, heads the White House Domestic Policy Council.
In 2021, donations from the Wyss nonprofits directed $62.7 million to groups seeking to advance the Biden administration’s political agenda, according to APT.
Some of Wyss’ U.S. donations have amounted to “seemingly illegal political activity,” with him donating $120,000 to Democratic candidates between 1990 and 2006, though he was never prosecuted due to the statute of limitations, the report said.
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 touted in his biography, which was written by his sister, Heidi. “Wyss aims to reinterpret the U.S. Constitution in light of progressive politics,” she wrote, according to APT.
A representative of the Wyss Foundation and Berger Action Fund told the Daily Caller News Foundation that the groups “do not support or oppose political candidates or parties, or otherwise engage in political campaigns.”
Arabella Advisors did not immediately respond to a request for comment.
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