WASHINGTON, Sept 27 Billionaire financier George
Soros has committed $1 million to the "Super PAC" group that is
helping fund President Barack Obama's re-election bid, a person
familiar with the pledge said on Thursday.
The move by Soros could trigger more big checks from liberal
donors who have previously avoided giving to Super PACs due to
their concern over the unlimited spending power of such groups.
Until this year, Soros held the record as the biggest
contributor in an election cycle for his 2004 political giving.
His record has been eclipsed by Las Vegas casino owner Sheldon
Adelson, who has said he has given $70 million to help
Republicans in the 2012 election.
Soros's $1 million pledge to Priorities USA Action was first
reported by The New York Times as revealed at a big-donor
meeting in New York on Thursday.
In August, Priorities USA for the first time raised more
than its Republican counterpart that backs Mitt Romney in his
bid for the presidency. At the end of last month, Priorities USA
had $4.8 million left in cash on hand, compared with the $6.3
million left in the coffers of the pro-Romney Restore Our
Soros had remained largely on the sidelines of this year's
Super PAC donations like many other Democratic donors who are
uncomfortable with the notion of an unlimited-funding group that
focuses predominantly on ads.
Soros has estimated that in 2004 he spent $27.5 million,
giving to outside groups in a failed effort to defeat Republican
President George W. Bush.