Bloomberg reported on Friday that Soros Fund Management plans to shut down its Hong Kong office as part of a surprise “administrative reorganization” after 14 years of operations.
The move may signal preparations by the Soros family to make major changes in the way their soft power empire operates with Trump back in power.
The campaign by the elder Soros and his son and heir apparent Alex to keep a Democrat in the White House has failed to pay dividends, despite the Soros’ Fund for Policy Reform’s transfer of $60 mln to Future Forward, a pro-Democrat dark money super PAC. That’s on top of a $15 mln donation by an Open Society Foundations subsidiary in 2023.
Along with money, the Soros family invested significant personal capital into the campaign against “MAGA-style Republicans” in 2024. In the spring of 2023, Alex Soros announced a dramatic scaling back of OSF’s operations in Western Europe to focus on Ukraine, Moldova, the Western Balkans, and the United States, with the effort to stop Trump becoming a top priority.
George Soros first sounded the alarm over Trump’s “America First” foreign policy in 2016, when he pumped millions into Hillary Clinton’s presidential campaign but failed to see his preferred candidate elected. After Trump won, Soros funded an anti-Trump “resistance movement,” manifesting itself in street protests, court challenges to his domestic agenda, secret lobbying of members of his administration, support for lawmakers promoting a neoliberal foreign policy, and even $1 mln in cash spent on the infamous debunked ‘Trump-Russia collusion’ dossier.
Soros and the OSF’s noticeable shift away from meddling abroad to interfering in US domestic politics earned the ire of Trump backers, who sought to declare him a “domestic terrorist,” strip him of his assets, and expel the Hungarian-born billionaire from the country.
In 2022, Soros channeled $125 mln into a ‘Democracy PAC’ to support anti-MAGA candidates in the midterms.
In 2023, as criminal indictments began to come down on Trump, the former president immediately linked the political “witch hunt” against him to Soros and his “hand-picked and funded” Manhattan DA Alvin Bragg, to whose 2021 campaign Soros is known to have donated at least $1 mln.
“I expect that Trump will be found guilty at least in some cases, and will be in jail by election day in November 2024,” Soros said in an August 2023 interview. “If I am right, he is unlikely to win the election. But if I am wrong, the US will face a constitutional crisis that is likely to bring on an economic crisis as well.”
Something seems to have gone terribly wrong in the billionaire’s calculations, with Soros’ ex-money manager, Stan Druckenmiller, warning in mid-October that the markets were “very convinced” that Trump would win.
With the Soros family dealt a major blow in Tuesday's election and set back to where it started in 2016, only time will tell whether the OSF empire will restart its anti-Trump "resistance" movement, and if the president-elect's inner circle - steeled by over eight years of efforts to sabotage Trump and undermine his ability to govern - will tolerate Soros-style attacks on the US political system and constitutional order.