Clooney, Hollywood Poised to Raise Record $12 Million for Obama

Actor and activist George Clooney is organizing what the Hollywood Reporter describes as the biggest political fundraiser in history — a party that will raise an estimated $12 million for President Obama in a single night.

An estimated 150 high rollers — including studio heads, celebrities and an array of entertainment industry execs — have paid $40,000 apiece to dine with the president at Clooney's Studio City home on May 10.

The New York Times recently reported that, because of anger with Obama on Wall Street, donations have fallen off and the campaign is demanding more money than ever from liberals like Clooney in Hollywood.

DreamWorks Animation chief Jeffrey Katzenberg, the president's major entertainment industry fundraiser, has been spearheading the event along with Hollywood political consultant Andy Spahn.

The dinner alone at Clooney's house will bring in between $5 and $6 million for the president's campaign coffers. Online donations could hit an additional $6 million.

The demand for tickets at the event was so great that organizers tried to limit the guest list to those living in Southern California. The campaign has even been conducting an online sweepstakes with the winner to receive two seats at the head table with the chief executive and Clooney. The winner of the contest is expected to be announced by the campaign in the coming days.