Having squandered all the money, BLM is now lashing out at one of its biggest Sugar Daddies. After somehow blowing through more than $90 million in corporate donations, “Black Lives Matter Global Network Foundation Inc. [BLMGNF] is suing in California state court its one-time partner, the Tides Foundation, saying the fund is withholding and has ‘egregiously mismanaged’ more than $33 million in donations earmarked for Black Lives Matter,” Bloomberg Law reported May 7.
The first thing that needs emphasizing is that Tides is a crucial conduit in notorious progressive billionaire George Soros’ dark money spider web. Soros gave Tides more than $20 million from 1998 to 2018, watchdog website Influence Watch stated.
BLM +Tides = Soros
In July 2020, as the Summer of George Floyd was rampaging across America, Tides partnered with BLM. “Tides Foundation has launched the Black Lives Matter Support Fund, which will support BLM’s grantmaking activities,” Tides announced in a statement. “This unique partnership will further amplify the extraordinary, unparalleled successes of BLM’s chapter-led, decentralized organizational model, while also allowing BLM to build the necessary infrastructure for sustainability.”
That sustainable infrastructure never materialized. Amazingly, despite all the trendy corporate and philanthropic cash thrown its way, by 2023 BLM Global was facing bankruptcy. Where did all the money go? BLM Global leaders splurged on luxury homes, hired friends and associates for lucrative “contracting” positions, and have been accused of treating the organization’s coffers as their personal piggy bank.
Now that the intoxicating ride is over, the BLM bigwigs are turning on the hugely influential Tides operation. “Tides Foundation, which has managed hundreds of millions in donations for progressive groups since it was founded in 1976, has ‘refused to honor its promises and continues to commandeer BLMGNF’s donations,’ according to the 285-page lawsuit filed in California Superior Court, Los Angeles County, on [May 6],” The New York Post detailed.
Wouldn’t it be interesting if BLM is the flawed instrument that ends up exposing the murky underbelly of Soros’ infamous dark money network?
‘Tides Operates With Minimal Regulatory Scrutiny’
“Tides has engaged in deceptive business practices and has operated in a quasi-banking capacity without appropriate regulatory oversight of licenses,” the BLMGNF lawsuit asserted, as The Post reported. “Tides operates with a level of autonomy and minimal regulatory scrutiny that is starkly at odds with the regulatory framework imposed on traditional financial institutions,” BLM claimed. Strong words.
“Tides manages over $1.4 billion in assets – more than many regulated community banks – allegedly acting like a bank without licensing, while preying on black- and brown-led organizations, according to the complaint,” Bloomberg Law related.
“Tides benefits at the expense of black- and brown-led charitable organizations, whose assets the fund holds, by charging donors a disproportionately large percentage for each contribution in fees, according to the complaint,” Bloomberg continued. Very interesting. Can we get comment from Soros on that?
No matter how the BLM suit plays out, Tides is in a mess of its own making. It fully got into bed with Patrisse Cullors, the BLM co-founder who was forced to step down from her leadership post in 2021 after being accused of numerous major financial irregularities.
“At the individual level, people can get involved by buying black,” Cullors told Tides in a fawning February 2021 interview posted on the Tides website. “Shop at your local black-owned small business, support black creators, and consider donating to black movements and organizations across the country. Look to your workplace and ask: Are we supporting the movement?”
Around the same time she was saying these things, BLM Global was reportedly purchasing mansions in Los Angeles and Toronto and paying the father of Cullors’ child $970,000 to “produce live events” and provide “creative services.”
Wasn’t Black Lives Matter supposed to help all black communities?
Wouldn’t it be ironic if Soros’ modus operandi ends up finally shedding much-needed light on what wiggles and crawls beneath the jagged rocks holding up his empire?
