Los Angeles, CA – George Soros, the multibillionaire investor who helped bankroll three initiatives to change drug laws in California, endorsed the marijuana legalization initiative Monday and plans to make a major financial contribution to the campaign.Join our WhatsApp group
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Soros, who invested $3 million in the medical marijuana initiative and two other measures, made his announcement in an opinion piece published online by the Wall Street Journal. “Proposition 19 already is a winner no matter what happens on election day. The mere fact of its being on the ballot has elevated and legitimized public discourse about marijuana and marijuana policy in ways I could not have imagined a year ago,” Soros wrote.
Soros, who runs a hedge fund and founded the Open Society Foundations, has not yet donated to the campaign. But Michael Vachon, an advisor to Soros, said that “he plans to make a significant contribution.”
The initiative was the brainchild of Richard Lee, an Oakland medical marijuana entrepreneur who has spent at least $1.5 million to draft the measure, collect signatures to qualify it for the ballot and pay for a campaign. The wealthy donors who have helped to pay for past efforts to change California’s drug laws had largely stayed out of the campaign until the last few weeks.