by Andrew Trunsky
The Open Society Foundations, the philanthropic group founded by George Soros, announced Monday that it would pledge $220 million towards initiatives focusing on racial equality in the United States.
The investment will transform the efforts of political and civil rights groups across the country, and comes as protests continue nationwide over the death of George Floyd while in the custody of Minneapolis police, The New York Times reported.
Of the $220 million, $150 million is allocated for groups “that helped to create and now sustain the momentum towards racial equality,” according to a press release from the Open Society Foundations. These groups include the Black Voters Matter Fund, Repairers of the Breach and political organizations like the Equal Justice Initiative. The money will be given out in five-year grants.
The remaining $70 million will be given as local grants to groups supporting changes to policing and criminal justice, according to The New York Times. The money will also be used to promote civic engagement across communities and political engagement from younger voters.
“It is inspiring and powerful to experience this transformational moment in the racial justice movement,” said Patrick Gaspard, the president of the Open Society Foundations.
For decades, our founder George Soros and we at Open Society have supported the movement against systemic racism. Today, we build on this history by announcing $220 million to build power in Black communities and promote bold new anti-racist policies. https://t.co/6G7yZsc1cm
— Open Society Foundations (@OpenSociety) July 13, 2020
“We are honored to be able to carry on the vital work of fighting for rights, dignity and equity for oppressed people,” Gaspard added.
“This is the time for urgent and bold action to address racial injustice in America,” added Alex Soros, deputy chair of the Open Society Foundations and son of George Soros. “These investments will empower proven leaders in the Black community to reimagine policing, end mass incarceration, and eliminate the barriers to opportunity that have been the source of inequity for too long.”
The senior Soros has donated billions to liberal and progressive causes throughout his later career, often supporting the efforts of “marginalized people” across the world, The New York Times said.
Soros survived the Nazi’s occupation of Hungary before emigrating to the United Kingdom in 1947, according to the Foundation’s website.
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Andrew Trunsky is a reporter at Daily Caller News Foundation.
Image “Black Voters Matter” by Black Voters Matter.