(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.
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Yeah, the Koch Bros., and Crossroads can spend $100 million buying the GOP and TEA Party candidates, but listen to them scream about the evl of one man and his donation to the Democratic Party PAC. Shoot, Romney's PAC money came from about 24 people. This stuff is just great for America- let the richest 1% buy the best government (for them) that their money can buy.
Based on George's past actions it is clear that he would like to see the U.S. go down in flames, what better way than supporting Obama.
Sorriest man that ever lived. I would beware of any candidate he supported must less OBAMA.
Soros is a patriot who cares about people – not just the rich.
That's an awfully small contribution when you consider how much money soros will make in oil off the coast of Brazil courtesy of obama's actions.
I can't stand this guy, he reminds me of 'la grenouille'.
Thank you Mr Soros,Bill Maher and Warren Buffett for your patriotic help in reelecting Pres.Obama to his second term.His second term will be brighter and more energized than the first,so thanks again for your contributions to a great cause....
I hate the political decision of Citizens United decision by the Republican-led Court. I do not agree with Super PACs but for President Obama to stand a chance in this attack on our democracy he must have an equal chance to compete with the corrupt Republican Party. Thank you Soros for leveling the field for President Obama to be able to have a fair chance with all the hidden and corrupt money from Republican donors and lobbyists who have bought Republican votes for the corporations and the rich. We need President Obama so we can clear out the Supreme Court and reverse all the extremist, destroying state Republican laws of workers, women and even the right to vote.
I can hear Glen Beck bouncing off his padded walls.
Have another drink, George!
Hmm.. no outrage from the left about billionaire donors buying elections? No? Own that hypocrisy folks.
Thank you, Mr. Soros. We are thankful for your donation. All 2008 voters for Obama, it's time to go to work. We are the ones that are going to make change and President Obama needs are help.
Soros got rich by manipulating the economic system and using Reagan's neoliberal policies to his advantage. He's had a change of heart in recent years and now realizes that neoliberalism is killing the average person. Good for him.
What now, Sheldon?
No large surprise here. I love the way the article points out that the SuperPac is Progressive and George Soros is Progressive. it is the code word for socialist.
Is this guy Cheap or what ?
The Koch brothers will put him in the trailer !
Mitt Romney / John Bolton 2012
Stop the Communist , Socialist , Extremist , Liberal , Jihad !
Thank you Mr. Soros.. You are a wise an generous man.
Let me guess, all the conservatives will be absolutely outraged over this and rant about Soros wielding too much influence. Yet when we have billionaire after billionaire donating millons and millions to all the Republican candidates and running their own super-pacs – that is perfectly acceptable.
About time. Just the sociobishop himself can give himself all kinds of millions.
That's cheating. Citizens United is only supposed to benefit the right.
I admire. I make mine too..
1 million from Maher, now 1 million from Soros. Where are all the liberals complaining about PAC money? Where are all the 99% that are sick of our government being bought? The true colors are showing. You aren't against all of this special interest money, you are just against it going to conservatives.
Beats the 10K that I gave to the same group – but then I'm not George Soros........
Shoot thats supposed to be a surprise
Good for him. He openly speaks the truth. Unlike others who conduct their business behind closed doors in hushed tones. Thanks, George.