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Obama to raise money at Qualcomm founder's home

Jacobs is the former chairman of tech and mobile company Qualcomm. The billionaire has given more than $2 million to super PACs supporting Obama.

By Josh Lederman
The Associated Press

3/12/2014

WASHINGTON — President Barack Obama will travel to California in May to raise money for House Democrats at the home of Qualcomm Inc. founder Irwin Jacobs.

That's according to an invitation obtained by The Associated Press.

The May 8 lunch in La Jolla is among at least six fundraisers Obama will hold for the Democratic Congressional Campaign Committee in coming months. House Democratic leader Nancy Pelosi of California will also attend.

The cost: $10,000 per person. Couples who donate $32,400, the legal maximum, also get a photo op and VIP reception.

Jacobs is the former chairman of tech and mobile company Qualcomm. The billionaire has given more than $2 million to super PACs supporting Obama. He's also donated to Ready for Hillary, a group backing a potential Hillary Rodham Clinton presidential campaign.

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