WSJ: Major Democratic donors hold back funding ahead of midterm elections

Several prominent Democratic Party donors, including billionaire investor George Soros and his son Alex Soros, have yet to contribute to the Democratic National Committee (DNC) ahead of the November 3 U.S. midterm elections, highlighting fundraising challenges for the party.

Campaign finance records show that George and Alex Soros donated more than $400,000 to the DNC during the 2018 midterm elections and more than $1 million during the 2022 midterm cycle. So far this year, however, neither has contributed to the party's central fundraising organisation, according to The Wall Street Journal.

Other major Democratic donors have also reportedly scaled back their support. Reid Hoffman, the co-founder of LinkedIn, who had made regular donations to the DNC in previous election cycles, has not contributed to the committee during the current midterm campaign.

The slowdown in donations has fuelled concerns within the Democratic Party as it prepares for congressional elections that will determine control of the U.S. House of Representatives and part of the Senate.

According to party strategists, some major donors remain dissatisfied with how campaign funds were spent during the 2024 presidential election, when Democratic nominee Kamala Harris raised more than $1 billion but ultimately lost after a compressed nomination process.

Others point to continuing divisions within the Democratic donor base over the war in Gaza, concerns about antisemitism in the United States and ideological disagreements involving the party's progressive wing.

The United States will hold its midterm elections on November 3. Voters will elect all 435 members of the House of Representatives, who serve two-year terms, as well as 33 of the 100 members of the Senate, who serve six-year terms.

By Sabina Mammadli