(CNN) - Billionaire financier George Soros has donated $1 million to the left-leaning super PAC American Bridge, a source with the organization said Monday.
The donation marks the first major foray into the 2012 presidential race for Soros, a high-profile supporter of President Barack Obama. In 2008 Soros helped the president raise a record amount of campaign cash.
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In a statement, American Bridge's founder David Brock said Soros' donation would help his organization influence the 2012 election.
"American Bridge is committed to being a permanent part of the progressive community by providing strategic support to organizations across the country and working to influence elections in 2012 and beyond," Brock wrote. "Thanks to investments by progressive leaders like Mr. Soros we have been able to build a cutting edge organization that we will continue to build upon in order to keeping providing effective and efficient services to the progressive movement."
Soros has been critical of Citizens United, the 2010 Supreme Court decision that made possible the creation of super PACs, which are allowed to raise and spend unlimited amounts of money on a candidate as long as they don't coordinate with campaigns. In February, told CNN's "Fareed Zakaria GPS" the new political organizations would "create an unequal playing field, which will further destroy the political system."
He made the comments shortly after Obama's re-election team announced it would urge donors to contribute to a super PAC supportive of the president's candidacy called Priorities USA. Records filed with the Federal Election Commission in April show Soros has not yet contributed to Priorities USA.
Super PACs backing Republican candidates played a major part in the GOP primary process, spending millions on mostly negative ads in early voting states. The super PAC supporting Mitt Romney, Restore Our Future, spent $38.9 million in the first three months of 2012, much of it on campaign television commercials in support of Romney and critical of his rivals for the GOP presidential nomination.
CNN's Jim Acosta, Ashley Killough and Kevin Liptak contributed to this report.