George Soros backs pro-Hillary Clinton super PAC

Story Highlights

• George Soros joins Ready for Hillary's national finance council
• Council members contribute or raise $25,000 for the super PAC
• In 2004 election, Soros donated $24 million to Democratic groups

WASHINGTON — Billionaire financier George Soros is joining forces with others urging Hillary Rodham Clinton to run for president in 2016, becoming the best-known Democratic donor to provide his money and name to the Ready for Hillary super PAC.

The move, announced Thursday by the super PAC via Twitter, could attract other big-name donors to a possible Clinton candidacy, potentially making it harder for other Democrats to compete financially with Clinton should she decide to seek the nomination.

Soros will serve as a co-chair of the super PAC's national finance council. Each member commits to contribute or raise at least $25,000 for the political action committee. The council meets Nov. 12 in New York City.

PAC officials would not disclose the number of people serving on the council. Other members include Houston trial lawyer Steve Mostyn and Susie Tompkins Buell, a key Clinton backer from the 2008 campaign and a co-founder of the Esprit clothing line. During the first six months of this year, 24 individuals had contributed $25,000, federal campaign records show.

Super PACs can raise and spend unlimited amounts of money. Ready for Hillary has opted to cap donations at $25,000.

Ready for Hillary, launched this year by some of Clinton's most enthusiastic supporters, has positioned itself as the vehicle for building grassroots support for a Clinton candidacy should she decide to run. It has more than 1 million Facebook supporters.

The former secretary of State has not announced her intentions. Clinton has been collecting awards and giving speeches since leaving her Cabinet post this year. She also is writing a book.

Priorities USA Action, a super PAC that aided President Obama's re-election last year, is expected to raise money to run advertising on Clinton's behalf if she launches a campaign. Mostyn donated more than $3 million to the group in the 2012 campaign.

Soros became one of the biggest names in liberal fundraising circles after donating $24 million to Democratic groups working to oust President George W. Bush in 2004. He's taken a lower profile in electoral politics in recent elections. In the 2012 contests, he gave nearly $2.8 million to Democratic super PACs, including $1 million to Priorities USA Action.