George Soros to donate $2 million to Democratic organizations

George Soros, a liberal philanthropist, has pledged $2 million to two pro-Democratic organizations, his first donations of the 2012 election cycle, Bloomberg Businessweek reported. 

Soros, who donated more money to political groups in 2004 than anyone else, will give $1 million to America Votes, a democratic group that focuses on environmental policies, civil rights groups, and abortion rights, and $1 million to American Bridge 21st Century, a super PAC that conducts election-based research, the New York Times reported.

The donations are likely to prompt other donors to start pumping funds into Obama's re-election efforts, according to the New York Times. They are among the largest by an individual Democratic donor in the 2012 election thus far, the Wall Street Journal reported. 

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“As he has in the past, George is focusing his political giving in 2012 on grassroots organizing and holding conservatives accountable for the flawed policies they promote,” wrote Soros' political adviser Michael Vachon in an email to donors on Monday night, according to the Washington Post. “Both groups are part of a progressive infrastructure, or center left establishment, that plays an increasingly important role in elections.”

Soros is worth an estimated $22 billion, and is considered one of "the most sought-after donors on the left," the Los Angeles Times reported. During the 2004 race, he donated a total of $27.5 million to Democratic groups like Americans Coming Together, according to the LA Times. 

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However, most of the billionaire's funding goes towards reaching out to voters and educating them, the LA Times pointed out. Soros has noticeably not donated to Priorities USA Action, the super PAC which supports President Obama’s re-election and has had difficulties matching the Republicans' fundraising efforts. 

“The idea that we’re going to engage in an arms race on advertising with the Republicans is not appealing to many liberal donors,” said David Brock, the founder of American Bridge 21st Century, according to the New York Times. 

At the end of March, Priorities USA Action had $5 million in funds, while GOP backer American Crossroads had $24 million, according to the Washington Post. DreamWorks Animation CEO Jeffrey Katzenberg and his wife were the largest donors to Priorities USA ever, giving the pro-Obama super PAC a total of $2 million last year, according to the Journal. 

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