Swiss billionaire Hansjörg Wyss is allegedly exploiting a “loophole” in federal law to inject foreign influence into American politics, according to a new report released by Americans for Public Trust. Wyss has donated nearly $500 million to “left-wing advocacy groups” through the Wyss Foundation and Berger Action Fund, two non-profits incorporated under 501(c)(3) and 501(c)(4) of the Internal Revenue Code, respectively.
The spokesperson for the Wyss Foundation and Berger Action Fund explained to the Daily Caller News Foundation, “These groups do not support or oppose political candidates or parties, or otherwise engage in political campaigns.”
An estimated net worth of $4.9 billion per Forbes, Wyss has mainly funneled donations to the Arabella Advisors Network, a for-profit consultant group that manages “dark money” donations from left-wing donors. According to the report, Wyss’ nonprofits have funded Planned Parenthood, the National Redistricting Action Fund, and the Sixteen Thirty Fund.
The report alleged that most of the money has been directed to the Arabella Advisors Network, a for-profit consultancy that manages “dark money” donations from left-wing donors. Wyss’s lawyer, Richard Callahan, states, “Mr. Wyss’s philanthropic donations are in compliance with all applicable laws and regulations.” Despite this, the report suggests that some of the donations have been illegal, with past donations amounting to $120,000 donated to Democratic candidates between 1990 and 2006.
Wyss is also on the board of directors of the Center for American Progress, a left-wing non-profit. According to Fox News, billionaires George Soros and Pierre Omidyar have also utilized the Arabella Advisors Network to manage their philanthropy. However, unlike Wyss and the other billionaires, both of these men are United States citizens.
?Swiss Billionaire Hansjörg Wyss has funneled nearly $500 million into the liberal dark money network, largely managed by @ArabellaAdvisor.
He’s exploiting the “foreign influence loophole” to skirt the ban on foreign nationals influencing US elections. https://t.co/5ZyfyHrN8H pic.twitter.com/zdndwM97Qv
— Americans for Public Trust (@apublictrust) July 10, 2023
Mr. Wyss’s donations have amounted to $62.7 million in funds to groups seeking to advance the Biden administration’s agenda in 2021. “We applaud the work of non-profit organizations that seek to contribute to progress in the public interest,” said a spokesperson for both the Wyss Foundation and Berger Action Fund. Americans for Public Trust’s report highlights how foreign donations, even if technically legal, need heightened scrutiny due to the risk of foreign influence over domestic politics.