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May 02, 2014 AT 2:37 PM
President Barack Obama is traveling to California next week to raise money for the Democratic Party and receive a humanities award from film director Steven Spielberg. Obama will raise money for the Democratic National Committee and the House and Senate arms of the party. His fundraising hosts include Disney Studios Chairman Alan Horn, billionaire and former Qualcomm Chairman Irwin Jacobs, and Yahoo CEO Marissa Mayer.