The billionaire told CNBC on Friday he recently pledged $20 million to Democratic groups because he felt the need to act after hearing some of the rhetoric coming from Republicans — particularly during the Republican National Convention.
"I think it's apparent to every American that this is a special election. The stakes are extremely high," he said in an interview with "Power Lunch."
"We just felt really compelled to, sort of, get off the sidelines and help ensure that the Democrats were able to win the election."
"The polarization in America today has yielded a race that is about much more than policies and ideas," he wrote. "It has become a referendum on who we want to be — as individuals, as a nation and as a society."
The money will be split among several organizations, including the League of Conservation Voters and For Our Future political action committee.
Meanwhile, at Moskovitz's former company Facebook, there was a debate over whether some of Trump's posts should be removed for violating the site's rules on hate speech, according to The Wall Street Journal.
Ultimately, CEO Mark Zuckerberg ruled it would be inappropriate to sensor Trump, the paper reported.
Moskovitz said making those types of decisions is difficult.
"They have a lot of difficult situations like this in terms of what kinds of speech they protect and which they decide is really just in the realm of paid speech or inciting violence," he said.