Sign in to comment!




Billionaire Soros gives $1M to super PAC backing Obama


Sept. 14, 2012: Hungarian born US billionaire philanthropist and Honorary Chairman of Board of Trustees of Central European University George Soros, left, waves as he arrives with President and Rector of CEU John Shattuck, right, for the ceremonial opening of the new academic year of the university in the session hall of the Hungarian Academy of Sciences in Budapest, Hungary. (AP/MTI)

Liberal billionaire George Soros is giving $1 million to a "super" political action committee backing President Barack Obama.

Soros' contribution to the super PAC Priorities USA Action comes as the group raised a record $10 million last month. It has launched television ads highly critical of Republican challenger Mitt Romney.

Priorities USA Action confirmed the amount of the donation on Thursday.

Soros gave $1 million earlier this year to the pro-Democratic super PAC American Bridge 21st Century. He's contributed millions of dollars during previous presidential elections.

Soros' contribution may signal that Democratic-leaning donors of elections past are starting to come around to super PACs. Those organizations can raise and spend unlimited sums of cash but can't coordinate with the candidates.