In the weeks following coordinated investigative reporting efforts uncovering the hidden fortunes of global elites and the ultra-wealthy, media actors ranging from QAnon influencers to foreign state broadcasters have mobilized antisemitic conspiracy theories to dismiss the massive exposé.
On October 3, the International Consortium of Investigative Journalists and various global media outlets began publishing a series of financial investigations looking into a system of offshore tax havens utilized by international elites, politicians, and billionaires. The investigation was based on a massive leak of 11.9 million financial records, nicknamed the Pandora Papers, and it revealed a complex web of global companies — operating from South Dakota to the British Virgin Islands — that some of the wealthiest people in the world are seemingly using to dodge taxation and launder money.
Fringe media outlets and QAnon adherents have viewed prior financial investigations of the global elite, like the Panama Papers, as a tool to expose and validate their conspiracy theories about the way the powerful and wealthy operate. A similar pattern occurred with the release of the Pandora Papers, as right-wing forums hyped the new reports and even alleged there was a hidden meaning behind the date of the papers’ release (though many pivoted to try and discredit the coverage once a link to George Soros was suggested).
It did not take long for conspiracy theory communities to reverse their initially positive expectations of the Pandora Papers’ release and instead push antisemitic smears undermining the new reporting.
QAnon and far-right media latch onto antisemitic conspiracy theories
Within hours of the journalism consortium’s announcement of the publications, a cascade of QAnon influencers and conspiracy theorists reversed their stance or outright condemned the merits and authenticity of the leaks.
Noticing that the ICIJ’s supporters page mentioned the Open Society Foundations, a grantmaking organization founded by Jewish philanthropist and perpetual conspiracy theory target George Soros, QAnon influencers crafted a narrative that dismissed the group and its reporting on the basis of antisemitic conspiracy theories. This is a familiar pattern across similar financial investigations of global elites: Fringe communities latch onto hope that released documents will prove their theories, only to immediately discredit the reporting once Soros’ involvement is suggested.
Some QAnon influencers retained their positive outlook on the Pandora Papers' contents while still questioning the nature of Soros’ involvement with the ICIJ. One influencer known as Qtah told followers that despite the potential for foul play in the Pandora Papers, “Digital soldiers” -- a term used by self-identified QAnon adherents -- “still need to highlight” the story as an example of elite corruption.
Conspiracy theories undermining the legitimacy of the Pandora Paper were not contained to the QAnon online fringes of the far-right.
On October 5, the popular far-right blog Gateway Pundit published an article accusing the Pandora Papers of being the latest in a “series of illegal hacks released to damage certain companies and high-profile figures” that have “so far produced little evidence of any real crimes,” such as revealing Soros’ supposed offshore activities. Gateway Pundit’s article was amplified by the conspiracy theory website Natural News, as well as Spanish-language QAnon accounts on Telegram. Others on the far right, ranging from conspiracy theorist Jack Posobiec to Spanish-language outlets Trikooba and NosMintieron.tv, further perpetuated conspiracy tales of “elite squabbles” and depicted the Pandora Papers as Soros-funded, CIA-hacked non-stories.
Russian state media has more of a discernible incentive to promote the Soros conspiracy theories than most other right-wing actors because the Pandora Papers name several key figures with links to Russian President Vladimir Putin, including some who seemingly attempted to avoid U.S. sanctions using the offshore system. Putin himself was not named in the Pandora Papers, and his government dismissed the leaks’ revelations about Russian individuals. Russian state media nevertheless utilized the Pandora Papers findings to attack geopolitical rivals, such as Ukraine.
Panama Papers misinformation set the foundation for the Pandora Papers response
The deployment of antisemitic tropes to discredit the ICIJ’s reporting on the offshore banking and finance industry is not unique to the Pandora Papers.
The widely acclaimed 2016 Panama Papers investigation was also initially hyped by fringe communities before revelations about Soros’ affiliation with the outlets ended support. Over the years, and notably in the aftermath of the assassination of Maltese Panama Papers journalist Daphne Caruana Galizia, the Panama Papers gained greater legitimacy in many conspiracy theory circles, despite early dismissals. But as coverage lapsed over time, there was not much reinforcement of theories dismissing the leak as disinformation. Yet those wanting to selectively incorporate the leaks into their own conspiracy theories continued to do so.
Almost five years later, identical Soros conspiracy theories deployed to discredit the Panama Papers are now repurposed wholesale to discredit the ICIJ’s work, often by the same bad actors, ranging from RT to Alex Jones.” Users on Reddit’s r/Conspiracy forum in 2016, like QAnon users discussing the Pandora Papers in recent weeks, claimed that the Panama Papers were part of a disinformation campaign to attack enemies of the U.S. establishment.
