By The Financial District
Apr 10, 20231 min
The Berger Action Fund is a nondescript name for a group with a rather specific purpose-- steering the wealth of Hansjörg Wyss, a Swiss billionaire, into the world of American politics and policy—Brian Slodysko reported for the Associated Press (AP).
Photo Insert: In 2007, Wyss expanded his giving, creating the Berger Action Fund, which has donated $339 million to left-leaning nonprofits since 2016.
Newly available tax documents show that his giving through the fund, which describes itself as advocating for “solutions to some of our world’s biggest problems,” swelled in 2021 to $72 million, cementing Wyss’ status as a Democratic-aligned megadonor.
In 2007, Wyss expanded his giving, creating the Berger Action Fund, which has donated $339 million to left-leaning nonprofits since 2016, records show.
Representatives for Wyss insist they have put in place strict policies limiting the use of donations to “issue advocacy” — not partisan electoral activities. 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 —received $245 million donated by Wyss’ groups since 2016, tax records show.
Those same groups have helped to bankroll efforts to lift President Joe Biden’s agenda and paid for TV ads promoting Democratic congressional candidates ahead of last year’s midterm elections.