George Soros gives $1 million to support Obama

(CBS News) Billionaire George Soros has donated $1 million to Priorities USA Action, a "super PAC" backing President Obama, a spokesperson for the group has confirmed to CBS News.

This is Soros' first donation to Priorities USA Action, though he announced$2 million in donations to two Democratic groups in May. He will also give another $500,000 to super PACs backing Democrats in Congress. Super PACs can raise and spend unlimited funds to influence elections, though they cannot legally coordinate with campaigns.
The New York Times, which first reported Soros' latest donations, reports that they were announced at a Thursday luncheon hosted by the Democracy Alliance, a liberal donor group, and headlined by former President Bill Clinton. The Times reported that others at the luncheon were expected to commit at least $10 million to Democratic super PACs.

Source :http://www.cbsnews.com/news/george-soros-gives-1-million-to-support-obama/