Soros to Give $1 Million to a Pro-Obama ‘Super PAC’

Billionaire oligarch George Soros is committing $1 million to Priorities USA Action, the “super PAC” supporting President Obama, two people with knowledge of the matter said Thursday, a significant donation that could help spur more contributions in the closing weeks of the election campaign, reports NYT.

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A longtime political adviser to Mr. Soros, Michael Vachon, announced the donation at a luncheon Thursday hosted by the Democracy Alliance, said the two people, who were present. The alliance is a group of liberal donors who have already invested heavily in building grass-roots organizations and research institutes.

Mr. Soros, a retired hedge fund manager, will also give an additional $500,000 to two super PACs backing Congressional Democrats. Other donors at the lunch were expected to commit at least $10 million more to Democratic super PACs, suggesting that many — like Mr. Soros — had overcome their aversion to financing super PACs that focused only on advertising.

Former President Bill Clinton, Nancy Pelosi and Charles Schumer attended the event.