President Joe Biden warned during his farewell speech in the Oval Office on Wednesday dark money in politics is dangerous and a threat to democracy.
Dark money is a reference to political donations not disclosed to the public through sophisticated financial instruments.
Biden’s comments came two weeks after he awarded George Soros, a billionaire Democrat donor kingpin linked to dark money, the Medal of Freedom.
“George Soros is an investor, philanthropist, and founder of the Open Society Foundations,” Biden’s White House wrote of Soros for the award ceremony. “Through his network of foundations, partners and projects in more than 120 countries, Soros has focused on global initiatives that strengthen democracy, human rights, education, and social justice.”
Millions of dark money contributions link back to Hungarian-born Soros, who quietly financed soft on crime district attorneys, radical left candidates, and a host of Democrat initiatives.
“In my farewell address tonight, I want to warn the country of some things that give me great concern. And that’s a dangerous concentration of power in the hands of a very few ultra wealthy people,” Biden said Wednesday. “The dangerous consequences if their abuse of power is left unchecked.”
“Today, an oligarch is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms and a fair shot for everyone to get ahead,” he added.
The Campaign Legal Center explained the particulars of dark money in politics:
For some wealthy special interests, dark money groups are one way to influence high-stakes elections while avoiding accountability — both for themselves and for the candidates who benefit from their secret efforts.
Majority Forward, a Democratic-aligned dark money group closely allied with Senate Majority Leader Chuck Schumer, was the primary funder of Last Best Place PAC, a super PAC that spent millions of dollars attempting to upend the Republican Senate primary in Montana.
Billionaire philanthropist and self-proclaimed nonpartisan Bill Gates quietly donated $50 million to the 501(c)(4) arm of Future Forward, one of the biggest spenders in support of Vice President Harris, and his donation will never appear on a public campaign finance filing.
Wendell Husebo is a political reporter with Breitbart News and a former RNC War Room Analyst. He is the author of Politics of Slave Morality. Follow Wendell on “X” @WendellHusebø or on Truth Social @WendellHusebo.
