Major GOP donor eyes $100 million in donations
June 18th, 2012
03:05 PM ET
3 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.

Also see:

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Lawmakers mum on health care contingency plans

Romney sees bright side of rain-soaked campaign event


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

    Thanks to a partisan activist Court, the common American has been priced out of the freedom of speech.

    June 18, 2012 10:38 pm at 10:38 pm |
  2. josh rogen

    someone has got to counter the billions in elitist bribe money the president has raised

    June 18, 2012 10:39 pm at 10:39 pm |
  3. Lisa

    Mitt Romney deserves 1% of the vote. He will work hard for those people. Why anyone else would vote for him is a complete mystery to me.

    June 18, 2012 10:40 pm at 10:40 pm |
  4. Lisa

    Here's a man with principles. He tried to bankroll the Newt that wouldn't quit. Now it's on to Romney. Ever think of using that money to feed poor kids, Shel?

    June 18, 2012 11:03 pm at 11:03 pm |
  5. Matt6123

    Obama is finished. Romney, first things first lets get rid of that idiotic obamacare that costs trillions of dollars.

    June 18, 2012 11:05 pm at 11:05 pm |
  6. Kenji

    How is this corruption? please do tell...........If Bill Maher had thay kind of money ya'll would be cheering by the thousands in D.C.

    June 18, 2012 11:05 pm at 11:05 pm |
  7. TPPvsFreedom

    Money is power, Power corrupts.

    Look at ACTA and the upcoming TPP. The little guy (you and me) aren't even invited to this closed room discussion. BIG money doners from the RIAA and MPAA will dictate how they want the new laws written, even if the public were informed (CNN any news on TPP or ACTA?????????) No is your lack of reporting because you support these treaties and know if the public were informed of them they would be outraged?

    The funny thing is that TPP and ACTA would be hated by the left and the right(and everyone in-between) but we just won't inform you cause we the media companies want them.

    June 18, 2012 11:08 pm at 11:08 pm |
  8. Harel Ho

    Thanks to an activist partisan Court, the common American has been priced out of the freedom of speech.

    June 18, 2012 11:13 pm at 11:13 pm |
  9. Robert

    Some weak minded Democrats say that Mitt "only wants to give money to the rich"
    Why????? Mitt is already rich. Do you think he'll get better parking at the contry club???
    Mitt wants what is best for ALL AMERICANS.
    Critical that we elect this exceptional candidate. btw I voted for Obama

    June 18, 2012 11:24 pm at 11:24 pm |
  10. Elbert

    Gee thank God Obama never got any money from corrupt billionaires and other rich folks that he felt obligated to do favors for, put their wives in high administrative positions or kick stimulus money to their companies! Long Live Big Brother Obama!

    June 18, 2012 11:30 pm at 11:30 pm |
  11. Keith

    How much Democracy can you buy for 100 million dollars? When the revolution starts make sure his name is on the list and the Legislators that take his money.

    We can stop them in the Streets of Charlotte and Tampa. We can make 1968 look like a picnic; your vote will not make any difference, your voice in the street will. Let’s stop them all at their conventions this year.

    June 18, 2012 11:33 pm at 11:33 pm |
  12. Ant

    Im telling u U.S will loose its value if they dont change that path

    June 18, 2012 11:51 pm at 11:51 pm |
  13. Steve

    In other news Obama has raised almost 1 BILLION dollars..and useing tax payer money to do it. But thats ok right libs?

    June 18, 2012 11:52 pm at 11:52 pm |
  14. Karm99

    And Romney claims to be for the middle class............

    June 18, 2012 11:52 pm at 11:52 pm |
  15. Steve

    In other news Obama has raised almost 1 BILLION dollars..and useing t ax payer money to do it. But thats ok right li bs?

    June 18, 2012 11:53 pm at 11:53 pm |
  16. Jeb

    In a country where money is speech, only those with the most money will ever be heard again.

    Goodbye Democracy. You had a nice run.

    June 18, 2012 11:59 pm at 11:59 pm |
  17. Prariedoc

    How can it not be obvious that these astronomical amounts of money being given to "Super PACs" mean that foreign money may well be trying to influence the American political system. Adelson, the Koch brothers and other billionaires and corporations have (somehow) bought the right to influence our election process with a Supreme Court saying that they have the right to do so as it's a form of "free speech". Corporations are NOT people. They're businesses. Their money comes from foreign investments and earnings along with their U.S. profits. This is inherently wrong and must be repealed and never allowed again!

    June 19, 2012 12:09 am at 12:09 am |
  18. Drveruju

    This is the hideous result of the outrageus citizens united decision by the supreme court, it is a decision that must at all costs be overturned.

    June 19, 2012 12:14 am at 12:14 am |
  19. packerfans

    Vote for Mitt Romney who can save America!! Obama can not save America and his end first term peroid!!

    June 19, 2012 12:19 am at 12:19 am |
  20. Fred

    I'm a firm believer in Mr. Adelson's right to give money to whomever he likes. I'm also a very firm believer that all the money in his checking account can't buy my vote and I'd venture to guess that that money won't buy enough votes to make the difference in November.

    June 19, 2012 12:20 am at 12:20 am |
  21. textee

    When will members of the Democrat party agree to prohibit the billions and billions and billions and billions of unregulated and unlimited dollars spent campaigning for Democrats and producing consistently, reliably bogus, false attack ads against Republicans by virulent, militant, hardline, fundamentalist, extremist, leftist Super PACs like ABC, NBC, CBS, PBS, NPR, A-Mess-NBC, the New York Times-Democrat, the Washington Post-Democrat, the execrable Associated (with terrorists) Press, al Reuters, al Jazeera, al McClatchy, et al.?

    June 19, 2012 12:27 am at 12:27 am |
  22. aurelius

    This man is a curse!

    June 19, 2012 12:37 am at 12:37 am |
  23. Larry

    Well if its founded by a criminal who had to have his buddy g w pardon him its got to be legit and fighting the good fight. what a joke the republicants are huge pieces of crap and the tea party is a joke those supporting it are too dumb to realize its supported by multi million and billionaires who want their taxes lower and yours higher and dont want their companies to have to give out benefits or good paying jobs and want business regulation gone so they can rip us off even more

    June 19, 2012 12:42 am at 12:42 am |
  24. cedaly1968

    I am curious how much this guy paid in taxes this year? My guess is he kept his money off shore, avoided taxes, and is now funneling money into American politics. Just out of curiosity, what would prevent the Chinese government from donating $1billion to a Super PAC? Nothing. I think SCOTUS is looking for a way to fix Citizens United – they know they made an error. Even Justice Stevens thinks so...

    June 19, 2012 12:47 am at 12:47 am |
  25. RA Hamilton

    What an impossibly immoral thing - waste $100 billion trying to defeat a president whose focus is on the lower and middle classes. Think of the impact he could have had on the world spending that money in more productive ways.

    June 19, 2012 12:51 am at 12:51 am |
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