Billionaire hedge-fund manager George Soros has pledged to donate $1 million to the pro-Obama Priorities USA super PAC, The New York Times reported on Thursday. Soros will also give $500,000 to super PACs supporting Democrats running for House and Senate seats.
An adviser to Soros announced the contributions at a luncheon featuring former President Clinton, Sen. Chuck Schumer, D-N.Y., and House Minority Leader Nancy Pelosi, D-Calif. Democrats have lagged badly in super PAC fundraising, in part because of the opposition of many liberal donors, including Soros, to the Supreme Court ruling in the Citizens United case that prompted the creation of the new breed of political action committee.
Soros told The Times in an e-mail that he was “appalled” by Republican presidential nominee Mitt Romney’s fundraising efforts to the point of overcoming his aversion to super PACs. Though he had given to super PACs earlier this election cycle, in May Soros hinted that he would not donate to Priorities USA, the newspaper said.