Swiss Billionaire Bankrolls Biden Agenda With $63 Million in Dark Money

A Swiss billionaire is evading bans on foreign donations to political candidates and committees by giving tens of millions of dollars to a web of nonprofits to bankroll President Joe Biden’s agenda. 

Hansjörg Wyss, who made billions in the medical device industry, is positioning himself as a megadonor to Democrat-aligned groups despite being forbidden from making political donations as a foreign national. Wyss gave $72 million in 2021 to the Berger Action Fund, which directs money to nonprofits that don’t have to disclose their donors or expenditures. By donating to the fund, Wyss can bypass bans on foreign political financial involvement. 

Wyss created the fund in 2007, and it has donated $339 million to left-leaning groups since 2016, according to the Associated Press. Wyss’s representatives claim the tens of millions go to “issue advocacy,” addressing the environment, for example, and not partisan interests. 

Yet groups that received Wyss’s money have spent heavily backing Biden and Democrats, the AP reported

Of the $72.7 million donated in 2021 by Wyss’ Berger Action Fund, $62.7 million went to two groups that were focused on building public support for Biden’s agenda, according to tax documents and a statement from the group.

Since switching his focus to nonprofits, two closely related organizations that play a role in Democratic politics have been among the biggest recipients of Wyss’ money. 

The Sixteen Thirty Fund and the New Venture Fund — two organizations that share the same founder, address and management firm — collectively received $245 million donated by Wyss’ groups since 2016, tax records show… 

Caitlin Sutherland, executive director of Americans for Public Trust, said Wyss’s giving must come under “immediate scrutiny.”

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Author: HP McLovincraft

Seeker of rabbit holes. Pessimist. Libertine. Contrarian. Your huckleberry. Possibly true tales of sanity-blasting horror also known as abject reality. Prepare yourself. Veteran of a thousand psychic wars. I have seen the fnords. Deplatformed on Tumblr and Twitter.

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