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Soros to Contribute $2 Million to Aid Democratic Groups

Soros Fund Management LLC George Soros
George Soros, founder of Soros Fund Management LLC. Photographer: Namas Bhojani/Bloomberg

May 8 (Bloomberg) -- Billionaire investor George Soros, who gave more money to outside political groups in 2004 than anyone else, is pledging $2 million this year to two pro-Democratic organizations, a spokesman said yesterday.

Soros, founder of Soros Fund Management LLC, will give $1 million to American Bridge 21st Century and $1 million to America Votes, spokesman Michael Vachon said in a letter to “friends and colleagues.”

American Bridge is a research group that will focus on Republican candidates, and America Votes is a coalition that includes unions, environmentalists and women’s groups. Both organizations are based in Washington.

“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,” Vachon wrote.

Soros contributed $23.7 million in 2004 to pro-Democratic political organizations, more than any other donor, according to the Center for Responsive Politics, a Washington-based research group.

This year, he hasn’t contributed to Priorities USA Action, the political action committee backing President Barack Obama’s re-election. Last year, he gave $175,000 to two super-PACs supporting congressional Democrats.

‘Strategic Support’

American Bridge was founded by David Brock, who also set up the media watchdog group Media Matters.

“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 said in a statement. “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.”

Obama has 10 times more money in the bank than the presumptive Republican presidential nominee, former Massachusetts Governor Mitt Romney. The pro-Romney super PACs have been able to reduce Obama’s financial edge.

To contact the reporter on this story: Jonathan D. Salant in Washington at jsalant@bloomberg.net.

To contact the editor responsible for this story: Jeanne Cummings at jcummings21@bloomberg.net.

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