Major GOP donor eyes $100 million in donations
June 18th, 2012
03:05 PM ET
2 years ago

Major GOP donor eyes $100 million in donations

Washington (CNN) – Fresh off a major donation to the pro-Mitt Romney super PAC, Nevada billionaire and major Republican donor Sheldon Adelson is expected to continue his support for some other GOP causes and may donate as much as $100 million this campaign cycle, a source with knowledge of his donations told CNN.

He doesn't want to put all his eggs in one basket, according to the source, and wants to see how the groups to which he contributes perform before deciding whether to give more.

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Among the potential recipients: the advocacy group Crossroads GPS co-founded by Karl Rove and an organization aligned with billionaires Charles and David Koch, who are sponsoring several different groups whose priority is aimed at helping Republicans to get out the vote vs. airing television ads. Crossroads and representatives for Koch have each asked Adelson for $10 million, but he has made no firm decisions about the level of commitment, according to the source contradicting some other reports.

"The requests are coming fast and furious," the source said. After months of speculation Adelson and his wife Miriam donated $10 million to Restore Our Future, the pro-Romney super PAC, making them its largest donors. This $10 million would be included in the $100 million total Adelson is looking to give during this campaign cycle.

The Huffington Post first reported the possible expansion of Adelson's contributions.

The casino magnate, whose worth is estimated at almost $25 billion by Forbes Magazine, is ranked as the 7th richest man in America.

Adelson and his wife contributed $20 million to the super PAC Winning Our Future, which was largely responsible for helping keep Newt Gingrich's campaign alive last winter by airing a series of attack ads aimed at Romney. In an interview with Forbes last winter he talked about possibly supporting Gingrich's campaign to the tune of $100 million.

Once Gingrich's campaign faltered, many political analysts wondered when he would switch his support for Romney and at what level.

Those close to Adelson had said he had always vowed to support whoever emerged as the Republican nominee because associates said his primary goal was to prevent the president from getting re-elected.

"He wants to beat Barack Obama," said one friend of his who requested anonymity.

With the second fundraising quarter coming to a close at the end of June, Adelson felt it was the right time, according to the friend.

"The race is on," said the friend. "He will do everything he can."

What may have also helped Romney's cause is a lunch Adelson hosted for the presumptive Republican nominee at his Las Vegas office lasting for more than an hour last month.

One source also addressed concern criticism by Arizona Sen. John McCain that foreign money was making its way into the campaign because much of the revenue of Adelson's Sands Corporation comes from overseas, including in Macau, an administrative region under the control of China.

The source, who is close to Adelson, fought back saying "it is the same revenue stream from four years ago when John McCain took the money," referencing McCain's 2008 campaign.

Representatives of Adelson have refused to speak about his contributions because the casino magnate prefers his political activities be kept private.

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Filed under: 2012 • Fundraising • Mitt Romney
soundoff (284 Responses)
  1. Larry

    A fool and his money...

    June 18, 2012 03:11 pm at 3:11 pm |
  2. Thomas

    The buying of a President 2012. The Supreme "Court" (really just another ideological political arm of the Republicn party) should be impeached for unleashing this disaster on American politics. Anyone who supports Mittens should remember who owns him...Adelson and his Chinese gamblers.

    June 18, 2012 03:13 pm at 3:13 pm |
  3. dave whynot

    this is nothing but disgusting and the buying of an election.

    June 18, 2012 03:16 pm at 3:16 pm |
  4. SafeJourney

    There you have it folks, Citizen United buying elections just like Justice Stevens said they would. Supreme court, your ruling was wrong. Reverse it. Even John McCain now says it was wrong.

    June 18, 2012 03:16 pm at 3:16 pm |
  5. nilla

    Or, he could invest this money in a company that can then hire American workers. His choice.

    June 18, 2012 03:17 pm at 3:17 pm |
  6. v_mag

    "Billionaire Las Vegas casino owner" is the same as saying "hooked up mobster involved in organized crime". This is the guy Rob-money takes millions from, and the guy who will be pulling Rob-money's strings if he ever gets into the White House.

    When is CNN going to get the courage to investigate Adelson's mob connections?

    June 18, 2012 03:18 pm at 3:18 pm |
  7. Larry

    Why worry about keeping it private? I can smell him from here.

    June 18, 2012 03:19 pm at 3:19 pm |
  8. Rudy NYC

    This is your tax cuts to a jobs creator at work, folks. Working to gain larger tax cuts for himself.

    June 18, 2012 03:21 pm at 3:21 pm |
  9. Sagebrush Shorty

    It's his money and he can spend it as he sees fit.

    June 18, 2012 03:22 pm at 3:22 pm |
  10. Jeff in San Diego

    When Romney wins and we invade Iran we will all know who paid for that decision.

    June 18, 2012 03:22 pm at 3:22 pm |
  11. Obama - Protecting the rights of ILLEGAL ALIENS to invade our country while SUING states to make sure they can vote as well

    Anybody that would contribute that kind of money to save this country from Obama and his cabal of lawless leftists is a TRUE PATRIOT!! THANK YOU, THANK YOU, THANK YOU!!!!

    June 18, 2012 03:23 pm at 3:23 pm |
  12. Rudy NYC

    Most people really do not realize how much a billion really is. Let me put it into perspective.

    Imagine a taxi cab that costs $1 per foot of travel. Drive a mile, and it costs 5280 bucks. A billion dollars is approximately enough money to take that same taxi cab from here to the moon, 230,000 miles away.

    June 18, 2012 03:25 pm at 3:25 pm |
  13. California

    Jealous democrats.

    Democrats recently were so proud that Hussein was going to crack the Billion dollar mark on his campaign funds. Now democrats are quiet on that front.

    June 18, 2012 03:25 pm at 3:25 pm |
  14. Kathy5565

    This whole super pac thiing makes me sick. I'm sure the founding fathers never intended to allow the presidency to be purchased by those who had the most money. The Supreme Court made a big mistake but they knew it would benefit the GOP because that's the party of the weathy.

    June 18, 2012 03:25 pm at 3:25 pm |
  15. Jeff

    I can think of a lot better ways to waste 100 million dollars. You might as well just dump it all in the sewer or overbid on a Wrestlemania program on ebay.

    June 18, 2012 03:26 pm at 3:26 pm |
  16. Gurgyl

    This idiot from Texas has no brain. This idiot is wasting money–I am glad, it is spent in USA. All say yes on Obama12.

    June 18, 2012 03:26 pm at 3:26 pm |
  17. Woman In California

    Ask yourself this: IF the president is doing such a bad job as the republicans want you to believe – why ALL this?

    June 18, 2012 03:30 pm at 3:30 pm |
  18. Joan

    The election system in the US is becoming a joke. True democracy went out the window with the Supreme Court ruling and everyone knows which party was behind that. How can a country tout democracy around the world when it is a farce at home? Best elections money can buy.

    June 18, 2012 03:32 pm at 3:32 pm |
  19. ladyfon

    For you complaining, what about the rich celebrities that gave millions to Obama? Didn't see you complaining then.

    June 18, 2012 03:32 pm at 3:32 pm |
  20. cali girl

    Money is as money does... oopps, I meant Stupid is as stupid does.
    No end in site of the money roll. Maybe all the super PAC people and the donors should have an official background check before it is accepted. And not by the SCOTUS, but the Secret Service, FBI and CIA

    June 18, 2012 03:33 pm at 3:33 pm |
  21. Buds

    Mitt Romney sells his Mormon soul to the Industry of Sin. Apparently his moral compass points to Las Vegas or is it China. Mitt embraces the dirty foreign money. What do you think Adelson expects to get for his $100M? i'm pretty sure it's something.

    June 18, 2012 03:34 pm at 3:34 pm |
  22. ladyfon

    I can't seem to figure out why you people refer to Romney as Robme or Rob-money. Did he steal one dime from you? No, instead he turned around a lot of companies that employ many of you. Yes a few did not make it, but atleast he tried to turn it around. I think we could use someone that turns around a faltering business.

    June 18, 2012 03:35 pm at 3:35 pm |
  23. Wire Palladin, S. F.

    Adelson has made more in profits under President Obama's tenure, than during any other time if recent history. While most of his profits comes from foreign casinos, he is willing to lose it all just to be able to get an even bigger tax break from Mittens.

    June 18, 2012 03:36 pm at 3:36 pm |
  24. Mary - dallas

    The rich wants to buy this election because they know if Romney wins, they win big. He will make sure they reap what they sow by their contributions. They want to continue to get the tax break, no regulation of how they do business etc. It has nothing to do with how Obama is handling the economy because they know too well the economy would have been better if the Republicans had worked with him. After all, McConnell & all repub said it the first day Obama took office, that he will be a "One Term President”. The never gave him a chance to get the economy back although he has somehow brought it back in spite of all the oppositions. They don't care about the regular folks or the economy, but just to enrich themselves. The sad thing is that ordinary folks are so brainwashed that, they don't realize they will suffer worse if Romney wins this election. It is even worse when some people are more after defeating Obama than seeing the big picture. What a shame what this country has become. God help us all

    June 18, 2012 03:36 pm at 3:36 pm |
  25. Kevin in VA

    So now we know what it cost to buy a president and the sad part is , he will write it off of his taxes

    June 18, 2012 03:38 pm at 3:38 pm |
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