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.

Also see:

Golfer-in-chief hits 100th round as president

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. A.W.Messenger

    Lest we forget that one of the largest billionaires on the planet owns Obama: Soros.

    June 19, 2012 01:38 am at 1:38 am |
  2. B.W.Messenger

    How many Millions upon Millions of $$$ has Soros given to Obama??

    June 19, 2012 01:40 am at 1:40 am |
  3. D.W. Smith

    Soros Soros Soros.....

    June 19, 2012 01:41 am at 1:41 am |
  4. Carlos

    It is amazing to me how they can invest millions of dollars in political campaigns but they refuse to imvest in creating jobs. Yet hear them complain about getting their taxes raised.

    June 19, 2012 01:43 am at 1:43 am |
  5. Peoples Power

    Money cannot buy everything...especially votes and democracy...the sane majority will eventually win..

    June 19, 2012 01:56 am at 1:56 am |
  6. Joe Clark

    Does he have to show a photo ID to contribute millions to buy votes?

    June 19, 2012 02:06 am at 2:06 am |
  7. mike

    His 100 million will have the same effect as Meg Whitman's 100 million.

    June 19, 2012 02:07 am at 2:07 am |
  8. NameJoe

    I hope Obama wins!!!!!

    June 19, 2012 02:40 am at 2:40 am |
  9. lwood

    Wow that could buy a lot of health care .

    June 19, 2012 03:02 am at 3:02 am |
  10. Rafael

    this should be illegal, from start to finish, no one should be able to put that much money into one person bid for presidency, i know it does not guarantee a presidential win, but at the same time... advertising does influence a lot of people, money does change the game, and money should not come from one person, its ridiculous and has gotten out of control.

    June 19, 2012 03:08 am at 3:08 am |
  11. Jay

    I think the most unbelievable aspect of this is that the people with money don't care about you, or democracy. It's all me me me. As they buy politicians they also spurt out something about America being the greatest country. Slice it anyway you want, this is unethical, it's disgusting, it will ruin this country and steal away your 'rights'. Absolutely sickening.

    June 19, 2012 03:11 am at 3:11 am |
  12. sherwin

    It's sad when I see people of American fighting each other over which party is better or worst. In reality both parties are controlled by corporate America. The republican is corrupted for the rich while the democrats is corrupted for the poor/middle class. Both parties are designed to divide and conquer us citizens, so we can not fight back wall street. If you notice, they(both parties) can never seem to layout any strategic plans for jobs creations or economic recovery. All they do is point finger at each other and scare the American public about how scary the economy is going to be, but think about this, if you are able to access a computer to read my comment here on yahoo, then I'm sure most of you are not that "poor". We have to unite as one to take back our country, and stopping the lobbists are the first step. It is a legal way buy off your politicians through super pac and other "donations". GO AMERICA!

    June 19, 2012 03:13 am at 3:13 am |
  13. Tammy lambert chandler az

    Big mistake Sheldon, Romney doesnt even like you.

    June 19, 2012 03:29 am at 3:29 am |
  14. Iamnotfooled

    Does anyone care that America is being bought by a few billionaires? and a few millionaires? That they want to set their agenda and will buy Romney to do it? They don't care about America. They don't care about the middleclass and poor. How can you Repubs vote for Romney if they are selling out America to the highest bidder? I thought you loved this country? Wake-up. They are doing everything you should be against.

    June 19, 2012 03:37 am at 3:37 am |
  15. amerrealist

    All that Macau casino money pouring in so we'll defend Israel at all costs. Won't it be fun when China starts buying our elections?

    June 19, 2012 04:27 am at 4:27 am |
  16. amerrealist

    All that macau casino money flowing in guaranteeing we'll defend Israel at all costs! Won't it be fun when China starts buying our elections?

    June 19, 2012 04:29 am at 4:29 am |
  17. thatguy

    Hey idiots we aren't a democracy

    June 19, 2012 04:37 am at 4:37 am |
  18. luigim

    So....this is where Democracy is headed. Hmmm. Sounds like some third world country being in control by the 1 percenters. But, this is supposed to be the United States of America. It is a sad day that the elections are now controlled by the elite, ultra rich. Yes, there is a lot of chatter about Unions donating money but at least they are disclosed and NOT the same degree of $$$. And, the Unions are disclosing their contributions. These Number Oners, for the most part, do not disclose where these monies are coming from. Adios Democracy....welcome to the new world. I hope that the Supreme Court is happy now for what their decision has created.

    June 19, 2012 06:12 am at 6:12 am |
  19. Ftrampush

    IT'S sad for this OLD,OLD billionaires to viciously spend a 100 million dollars on a guy who will lose in Nov 2012.Just think what this OLD man could do if he was a Patriotic and spent this money in the USA to create Jobs for all Americans
    Maybe he could use a tad of this money to build an OUT HOUSE for the Mitter In the Caymen Islands.He could call it Mitts OUTHOUSE Library.Maybe even Joey the Plumer can join him in this brand New OUTHOUSE.Does Missoula Montana come to mind.

    June 19, 2012 06:12 am at 6:12 am |
  20. fryuujin

    used to be that a fool and his money are soon parted. now it's that fools can be fooled with money that buys lie ads. Are people really getting dumber every day? to quote that last fool these fools elected "fool me once ahh err can't get fooled again." get ready to be fooled again and again and again.

    June 19, 2012 06:47 am at 6:47 am |
  21. Bart

    Its his money and he can spend it anyway he wants.
    GE was a major contributor to the Democratic Party and was giving special treatment through legislation which is perfectly 'legal'. Adelson is giving his money and GE was giving the stockholders money.

    June 19, 2012 06:48 am at 6:48 am |
  22. ThisIsNotAmericaShaLaLaLaBowie

    THANKS U.S. Supreme court!! For a governmental agency (because that's what you've become-I no longer see you as an instrument of justice) you sure are inconsistent. For most big cases you ponder the question "..what will the effect be if we decide for plaintiff or defendant...." But you obviously dropped that ball on this one. Millions of warnings came you telling you what the effect of this decision was going to be, but I guess that took a back seat to the mouth-watering experience you had pondering how rich this would make the GOP. Good going. I wish I could say "you're FIRED", but those lifetime appointments kinda get in the way. It's sad in this country when the disposition of justice is determined by the resignation order of a justice-whether he or she resigns during a left or right wing administration....this is only going to get worse.

    June 19, 2012 07:03 am at 7:03 am |
  23. luigim

    There goes Democracy as we knew it.

    June 19, 2012 07:05 am at 7:05 am |
  24. luigim

    And......there goes our Democracy. What a sad day for America.

    June 19, 2012 07:05 am at 7:05 am |
  25. nananette

    It is so obvious these billionaires are do everything in the power to buy this election!! Lord help us if Romney wins. All of us middle class and poor folks are screwed. And women's bodies will be governed by the GOP. Say bye-bye to planned parenthood which helps provide contraceptives, mammograms and pap smears to those who cannot afford it. Then see all the unplanned babies born and cancer rate go up for women. I think I may need to move to Canada or anywhere else but the US if Romney wins.

    June 19, 2012 07:15 am at 7:15 am |
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