Bloomberg and Billionaire Politics
How billionaires from Michael Bloomberg to George Soros to Peter Thiel use personal wealth to reshape politics, and whether this constitutes a new form of oligarchy.
Different Models of Billionaire Politics
Not all billionaire political spending looks the same. Michael Bloomberg has spent over $1 billion on gun control advocacy through Everytown for Gun Safety, making him the single largest funder of gun reform in America. He also spent $900 million on his own 2020 presidential campaign. George Soros has spent billions through his Open Society Foundations to promote democracy, human rights, and progressive district attorney candidates. Peter Thiel funded JD Vance's Senate campaign and other populist-right candidates aligned with his techno-libertarian worldview.
Each represents a different model: Bloomberg funds causes and institutions, Soros funds movements and civil society, and Thiel funds individual candidates who share his vision. What they share is the capacity to single-handedly shift political outcomes in ways unavailable to ordinary citizens.