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

    He is betting on that %1 tax cut that Romney propose

    June 18, 2012 04:24 pm at 4:24 pm |
  2. Dave Jaipersaud

    And here are 100,000,000 reasons why corruption will be rampant in a Romney Administration and why America should not elect Romney. This is a classic example why the Republicans philosophy is to give everything the rich folks and nothing to Real Americans. Middle Class folks, I hope you are paying attention.

    June 18, 2012 04:24 pm at 4:24 pm |
  3. Andrew

    How about these donors (on both sides) give the money to a real cause and not to people who already have more money than god....

    June 18, 2012 04:26 pm at 4:26 pm |
  4. sayer

    Here we go. Government of the rich, by the rich, and for the rich shall not perish...

    June 18, 2012 04:27 pm at 4:27 pm |
  5. ThinkAgain

    When President Obama during his State of the Union speech in January 2010 said that the Citizens United ruling would "open the floodgates for special interests – including foreign corporations – to spend without fault in our elections," Supreme Court Justice Samuel Alito mouthed "Not true!"

    I'd like to ask Alito how he feels now ...

    June 18, 2012 04:29 pm at 4:29 pm |
  6. John

    They spend a Billion dollar on Newt Gingrich and Now they are going to spend 100 Million on Mitt Romney, but they don't want to pay a little more In Taxes. It seem to If they were to pay a little more In taxes they would save a lot of Money. But you know the old saying Is a fool and there Money will soon part.

    June 18, 2012 04:29 pm at 4:29 pm |
  7. v_mag

    jake has it right: Bribery and corruption are the hallmarks of our electoral and governing processes.

    Right wingers like Daveinil try to spin it in terms of hypocrisy since Democrats also take PAC money. Well, I'm here to tell you that the REAL left is not represented by Democrats. Most Dems and ALL Repugs are fostering the decline of democracy into plutocracy. However, since our choices are extremely limited, proud lefties like myself have to turn to the lesser of two evils, which too often turns out to be a Democrat.

    June 18, 2012 04:34 pm at 4:34 pm |
  8. Tex Ann

    Just think how much good that $100 million could do in medical research? But I guess finding a cure or treatment for some devasting disease isn't important to this guy.
    Or perhaps helping people without jobs re-train in some other field? Or providing scholarship money for kiids to go to college? Just so many other places that kind of money could be put to much better use....

    June 18, 2012 04:35 pm at 4:35 pm |
  9. Andrew

    a government for the rich, by the rich.

    June 18, 2012 04:36 pm at 4:36 pm |
  10. amlcpamaine

    Romney has a very different value system than most: make money, and if you can make even MORE money by exploiting others, it's their fault so just make some more. His friends and colleagues are the same way. His Bain partners have been censured in Mass. for setting up dummy corp's to hide their donations to his gov campaign, because to them "democracy" is a game for getting whatever you want, even if society has to pay for it. And if you figure a way to get MORE then you get more points in the game. This man and his partners stole my colleagues' retirements and shipped all our jobs overseas, colluded with management to pay them off, then has the nerve to tout himself as a "job creator" in "free enterprise." Romney has a very very stark thing coming when he approaches the Pearly Gates.. he'll buy his way into everything, maybe even the white house, until then.

    June 18, 2012 04:37 pm at 4:37 pm |
  11. RMJ

    The amount of money being raised by BOTH sides is obscene. There is no way that anyone can accept that kind of money from one person/company and not be beholdent to the donor...a donor who has an agenda and will play that card when it serves him. Our government, including our President (regardless of the winner of the election) has been bought and paid for. Sigh...

    June 18, 2012 04:39 pm at 4:39 pm |
  12. Obama - Protecting the rights of ILLEGAL ALIENS to invade our country while SUING states to make sure they can vote as well

    It sounds like the lefties in here want to ban the hundreds of millions of dollars that the unions contribute almost exclusively to the Democrat Party!!! Correct lefties??? Corruption, right??? Buying influence, right???

    June 18, 2012 04:39 pm at 4:39 pm |
  13. ThinkAgain

    @Obama – Protecting the rights of ILLEGAL ALIENS to invade our country while SUING states to make sure they can vote as well:

    "Obama and the Democrats are the INVENTORS of massive campaign dollars!! Or is it just OK for YOU to raise large amounts and NOT your opponents? Yes, that is he real issue isn't it!"

    Not only is your screen name a lie (illegal aliens can't vote – anyone with a working brain knows that), here are the FACTS about the 2008 campaign contributions, according to the Federal Elections Commission website (google it, if you don't believe me). Pay particular attention to the "Size of Contributions" section:

    SUMMARY Obama 2008 campaign contributions:
    Individual $659,128,072
    PAC $1,580
    Party $850
    Candidate $0
    Federal Funds $0

    Size of Contributions
    $200 and Under $335,139,233
    $200.01 – $499 $72,214,807
    $500 – $999 $56,210,349
    $1000 – $1999 $72,764,448
    $2000 and Over $112,049,973

    President Obama was elected BY THE PEOPLE in 2008. Mittens thinks "corporations are people, my friend," so guess where his allegiance lies?

    Obama/Biden 2012 = The only sane choice

    June 18, 2012 04:40 pm at 4:40 pm |
  14. Mor Man NO!

    He's a Morman, no way is he going to get the real CHRISTAIN VOTE. Tell your friend's NO to a NON-CHRISTAIN.

    June 18, 2012 04:41 pm at 4:41 pm |
  15. ThinkAgain

    @Obama – Protecting the rights of ILLEGAL ALIENS to invade our country while SUING states to make sure they can vote as well: "And you sire are a gullible nitwit to believe ANY campaign doesn't get the majority of it's money from large contributors."

    YOU are the gullible nitwit to believe all the Fox/Limbaugh/Hannity nonsense you so obviously do! Try doing some independent research and you'll see just how much and often you've been lied to.

    Obama/Biden 2012 = The only sane choice

    June 18, 2012 04:42 pm at 4:42 pm |
  16. Rick in Phx

    I guess we can throw out the window that republican philosophy of the rich using their wealth to create jobs, and it's quite obvious that good ole Adelson doesn't want anything in return. GEEZ ! ! !

    June 18, 2012 04:44 pm at 4:44 pm |
  17. Xman

    Sheldon Adelson, the same windbag that floated Newt's campaign simply on the idea Newt, if he won, would pull all the pro Israeli strings he could muster? THAT Sheldon? I hear he's a nice guy, but giving money to any of the GOP clowns, least of all Mitt, is a joke as much as it is a waste of money.

    June 18, 2012 04:45 pm at 4:45 pm |
  18. ja

    the supreme court caused this mess to be possible, american politics are ran int the board room today more than ever before these flag and cross wearing sobs, claiming conservative values, more hatred, intolerance, exclusiveness, than anything else

    June 18, 2012 04:45 pm at 4:45 pm |
  19. JoeP

    Yes, we want to ban these huge contributions to BOTH parties. Money is corrupting our political system, no matter which party it's flowing to.

    June 18, 2012 04:46 pm at 4:46 pm |
  20. ThinkAgain

    @Silence DoGood: "Obama was the highest bidder in 2008 thanks in part to Big Money from corporations including Wall Street. Goldman Sachs, etc. from government audit records. The current president is a 1% guy. Hate to burst the bubble but it is time for everyone to wake up."

    From the FEC website:

    SUMMARY Obama 2008 campaign contributions:

    Individual $659,128,072
    PAC $1,580
    Party $850
    Candidate $0
    Federal Funds $0

    $200 and Under $335,139,233
    $200.01 – $499 $72,214,807
    $500 – $999 $56,210,349
    $1000 – $1999 $72,764,448
    $2000 and Over $112,049,973

    President Obama was elected BY THE PEOPLE. You'd know that, if you actually did a little research ...

    June 18, 2012 04:47 pm at 4:47 pm |
  21. Chris of Oregon

    It is fair game everyone -
    Obama = Billionaire George Soros and Hollywoods –VS– Romney = Sheldon Adelson

    Scared that the other camp will now have the same MONEY as Obama.. Eye for an Eye -

    June 18, 2012 04:49 pm at 4:49 pm |
  22. Ronda in Houston,TX

    Foreign countries can vote in our elections in the United States because of the ruling by the Supreme Court.

    June 18, 2012 04:49 pm at 4:49 pm |
  23. mslizc

    Everyone should take a good look at how much Romney and his rich goodfellas love this Great Country and the people in it. They are trying to turn this country back hundreds of years. It is not so much what President Obama has not done on somethings, the real reason is he is (Black). People before you cast your ballot in November, remember this Racism is not heriditary.(IT IS TAUGHT)

    June 18, 2012 04:50 pm at 4:50 pm |
  24. Mario

    Mitt Romney can get all the money in the world but he will not get the African American vote's and not the Hispanic vote's. He made his self clear in his debate when he talked about the Dream act and Immigration reform. He can lie and cheat his way to getting the republican nomination but it will not work in the General election. Please join the Million Vote Hispanic for turning TEXAS Blue campaign come in september.

    June 18, 2012 04:50 pm at 4:50 pm |
  25. Obama - Protecting the rights of ILLEGAL ALIENS to invade our country while SUING states to make sure they can vote as well

    The more free speech the better! The more money to enable more free speech, the better! Let the information flow! Let the people listen and digest it and decide! We don't need no stinking government censorship or restrictions!! We are FREE PEOPLE and can think for ourselves! At least most of us are. The brainless sheep on the left are on their own.

    June 18, 2012 04:50 pm at 4:50 pm |
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