George Soros has an investment firm that he uses to fund campaigns for DAs in major progressive cities. Often times his candidates win, and lawlessness and chaos ensue. Examples are Los Angeles, New York, San Francisco, and others. He also writes big checks for companies the Biden Administration supports, like the now-bankrupt electric bus company that Soros lost nine figures on.
Yeah, $105 million went up in flames because Proterra was a disaster. The company went public in 2021, and Soros Fund Management gobbled up 7.75 million shares as an early investor in the green energy company. Since the IPO, it’s been one losing quarter after another, and investors have been bailing. Proterra has filed Chapter 11 bankruptcy, and the losses for Soros Fund Management reached about $105 million.
Proterra failed despite huge support from Biden’s administration. In April 2021, the 81-year-old president claimed that companies like Proterra would help the United States “own the future.” Proterra fit right in with the massive $1.9 trillion infrastructure plan, of which $5 billion had been earmarked for electric school buses.
Biden appointed Proterra’s CEO Gareth Joyce, to the President’s Export Council this past February. On top of that, Biden’s Department of Energy Secretary Jennifer Granholm used to be a board member of Proterra and held up to $5 million in stock options.
Proterra proved one thing during their run of incompetence; they had no clue what they were doing. There was $24 million worth of Proterra buses set to take kids in Philadelphia to and from school, but all the buses were taken off the road because their electric batteries could not provide enough juice to allow the buses to finish their routes.
The stock price for Proterra is now valued at 8 cents a share, and according to the most recent filing, Soros’ firm still owned 2.3 million shares.
Up next? Lawsuits. Investors are ticked and believe the company “made false and/or misleading statements and/or failed to disclose” financial information that affected the share prices, according to a Daily Wire report.
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