In a move that has sent ripples through the world of progressive philanthropy and Democratic politics, the Bill & Melinda Gates Foundation has quietly ended its longstanding financial relationship with Arabella Advisors, a Washington, D.C.-based consulting firm known for managing a vast network of so-called "dark money" funds supporting left-leaning causes. The internal announcement, made on June 24, 2025, and first reported by The New York Times, marks a significant shift both for the foundation and for the broader ecosystem of liberal advocacy groups that have come to rely on Arabella’s financial and operational infrastructure.
The Gates Foundation, the world’s largest charitable organization with an endowment of approximately $77 billion, has disbursed or pledged about $450 million to nonprofit funds administered by Arabella over the past sixteen years, according to PJ Media. While the foundation’s internal memo did not directly mention politics, it signaled a new direction: "Teams are increasingly working directly with programmatic partners — organizations that are deeply embedded in the communities we serve and closely aligned with our mission," the memo stated, as cited by The New York Times. "As we look ahead, this is a chance to build deeper, more durable relationships with those partners — and to reinforce the kind of legacy we want to leave behind."
The Gates Foundation’s official statement to The New York Times framed the decision as “a business decision that reflects our regular strategic assessments of partnerships and operating models.” The foundation clarified that it would not create new investments with Arabella-related entities, such as the Redstone Strategy Group, a consulting firm acquired by Arabella in 2023, and would also seek to “pursue early exits” from certain long-term investments.
Arabella Advisors, founded in 2005 by Eric Kessler—a veteran of the Clinton administration and longtime staffer at the National Democratic Institute and the League of Conservation Voters—has come under increasing scrutiny in recent years. The firm manages a sprawling network of nonprofit funds, including the Sixteen Thirty Fund, New Venture Fund, Hopewell Fund, Windward Fund, North Fund, and Telescope Fund. These organizations have been instrumental in channeling hundreds of millions of dollars into left-of-center political organizations and advocacy groups, often without disclosing their donors, a practice that has drawn criticism from across the political spectrum.
According to The Atlantic, Arabella Advisors “undeniably benefited from the rush of panicked political giving on the left during the Trump years.” In 2020 alone, the Sixteen Thirty Fund donated $410 million toward defeating Donald Trump and securing Democratic control of the U.S. Senate. In 2022, Arabella raised over $1 billion and poured millions into liberal causes nationwide, reported the Daily Caller News Foundation. The consulting firm’s influence has extended into battleground states, where nonprofit groups managed by Arabella spent over $4 million on voter engagement and registration efforts during the 2022 midterms.
Arabella’s business model has long relied on its reputation as a safe and effective conduit for progressive donors—including billionaires like George Soros and Pierre Omidyar, who have publicly disclosed multi-million dollar contributions to the network. Between 2005 and 2021, Arabella reportedly took in $6.5 billion, with the vast majority flowing to left-wing policy and litigation groups, according to Hot Air and Wikipedia entries cited by multiple outlets.
But the tide appears to be turning. The Gates Foundation’s withdrawal is not merely a symbolic gesture; it represents a substantial financial blow to Arabella’s operations. As PJ Media noted, “losing a benefactor to the tune of nearly half a billion dollars is a helluva lot more than ‘symbolically significant.’ $450 million is significantly significant.” The impact is already being felt, with some nonprofits that work with Arabella reportedly seeking to distance themselves from the firm to preserve their relationships with the Gates Foundation, which is best known for its global health initiatives.
The decision comes at a time of heightened scrutiny and anxiety within the world of progressive philanthropy. Five anonymous sources told The New York Times that some Arabella clients, worried about the possibility of investigations under a potential second Trump administration, have been exploring ways to reduce their reliance on Arabella’s services. In March 2025, billionaire Elon Musk alleged that Arabella’s groups and the Democratic fundraising platform ActBlue were part of a “left-wing NGO cabal” coordinating anti-Tesla protests. Musk has called for investigations into Arabella Advisors’ activities, further intensifying the spotlight on the firm.
Arabella Advisors has consistently defended its role. In a statement provided to the Daily Caller News Foundation, a spokesperson said, “We are proud of the work we’ve done and continue to do with the Gates Foundation and the impact we’ve helped support through their giving to the New Venture Fund. Arabella Advisors provides operational support to hundreds of philanthropic clients pursuing social change and we remain committed to providing this support. We do not have donors, make grants, or engage in political activity.”
Despite these assurances, the perception of Arabella as a central hub for “dark money” on the left has become increasingly problematic. Politico has described the Sixteen Thirty Fund as a “left-leaning, secret-money group,” illustrating how the left has embraced undisclosed donations to fight for its causes—even after years of criticizing similar practices among Republicans.
Arabella’s fortunes have also shifted on the business front. The firm was acquired in 2020 by Concentric Equity Partners, a private-equity firm. Internal studies revealed that Arabella generated over $60 million in revenue in 2022, yet earlier this year, Concentric quietly removed Arabella from its public investments page—a move that some observers interpret as an attempt to distance itself from mounting controversy.
For the Gates Foundation, the move away from Arabella may reflect a desire to insulate itself from the increasingly fraught world of partisan politics. While the foundation’s leadership has not publicly cited political concerns, the timing and context of the decision have fueled speculation that Bill Gates is seeking to “build deeper, more durable relationships” with partners more closely aligned with its core mission and less entangled in the country’s political battles.
Ultimately, the Gates Foundation’s decision is emblematic of a larger trend: major donors and philanthropic institutions are reassessing their relationships with political advocacy groups, particularly those operating in the shadows of campaign finance disclosure. As the Democratic National Committee and its allied organizations face dwindling resources and shifting donor priorities, the loss of Gates Foundation support could mark a turning point for Arabella Advisors and the broader liberal funding landscape.
Whether this signals a lasting retreat from the world of "dark money" or simply a recalibration of philanthropic strategy, one thing is clear: the Gates Foundation’s break with Arabella Advisors has left an unmistakable mark on the world of political giving, and its effects are likely to be felt for years to come.
