Obama Super PAC Gets Billionaire Campaign Donor

Monied new and repeat donors shore up Democratic super PAC just in time.

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The White House/Getty Images

Following news of slow campaign fundraising in President Obama's election run against Republican nominee Mitt Romney, Politico reports an upswing in donors for the president.

Priorities USA Action spent $7.9 million last month -- mostly on ads scrutinizing Romney's tenure at the private equity firm Bain Capital -- and finished June with $2.8 million in the bank, according to a report filed late Friday with the Federal Election Commission.

The report offered some encouraging signs for a PAC that had been worrying Democrats with its sluggish fundraising, revealing a mix of new mega donors and returning ones who increased their contribution levels and drawing heavily from the worlds of entertainment and gay rights activism.

Its biggest donation -- $2 million -- came from telecom billionaire Irwin Jacobs, who had not previously given to the Obama super PAC. And Priorities received $1 million each from Chicago media mogul Fred Eychaner, an Obama campaign bundler and prominent gay rights supporter who had previously donated $500,000, and star actor Morgan Freeman, a newcomer to big-political-check writing.

Read more at Politico.

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