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.

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Romney sees bright side of rain-soaked campaign event

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

    He is such an old decrepid idiot

    June 18, 2012 04:53 pm at 4:53 pm |
  2. v_mag

    One of the main reasons I got away from Christianity was that Christians only gave lip service to the values written in the New Testament.

    They said, "no man can serve both God and money", "the poor shall inherit the earth", and "pile up riches in heaven, where moth and rust don't corrupt". They read the story of the rich young ruler who was advised to sell his possessions and give the money to the poor. They told the parable of the camel passing through the eye of the needle.

    And then they hypocritically worshipped riches and the people who had riches, like Sheldon Adelson. They accepted people like Rob-money as Christians, despite all the evidence to the contrary. That will put anybody off religion.

    June 18, 2012 04:54 pm at 4:54 pm |
  3. anagram_kid

    Obama – Protecting the rights… of ILLEGAL ALIENS to invade our country while SUING states to make sure they can vote as well wrote – political contributions are NOT tax deductable.

    Well they soon will be as it is only logical. In the not too distant future corporations will simply select a candidate to run for office. They will fund the campaign and if elected the candidate will be expected to do their bidding. Since they are purchasing the office the candidate will hold to benefit their business, buying the election is technically a business expense.

    June 18, 2012 04:56 pm at 4:56 pm |
  4. Marie MD

    I would like to thank the old clueless farts in the scotus who voted to make corporations people.
    You are a demented bunch of old clowns. Sorry but when our judicial system becomes a partner for big corporations and selling our presidency I can't call you anything else but . . . .
    @obama yada, yada, yada – there is no way on Earth that any union or can collect $100M. Most union members are member of the vanishing middle class.

    June 18, 2012 04:56 pm at 4:56 pm |
  5. joe

    Thank you, Republican controlled Supreme Court, for completely corrupting the American electoral process.

    June 18, 2012 04:57 pm at 4:57 pm |
  6. ThinkAgain

    Just what did the 5 Supreme Court Justices who ruled in favor of Citizens United think would happen when the floodgates to unlimited, unaccountable political contributions were opened?

    Those 5 are either borderline retarded and should be thrown off the bench, or totally corrupt and in the pocket of multinational corporations – and thrown off the bench.

    June 18, 2012 04:57 pm at 4:57 pm |
  7. Jim, San Antonio

    Whether you're a Republican or Democrat, if you think clearly, you MUST be concerned of the effect of any one person or group giving $100 million to a political party. Our government must not be for sale to the highest bidder!

    June 18, 2012 05:00 pm at 5:00 pm |
  8. Squigman

    Good-bye democracy.

    June 18, 2012 05:03 pm at 5:03 pm |
  9. nipthedog

    $100 Million dollars. Enough money to provide $3000 per month for one year for 2,778 families. That is just sickening, and it should sicken you too.

    June 18, 2012 05:04 pm at 5:04 pm |
  10. Peggy

    The "Good Book" says that it is easier for a camel to go through the eye of a needle than for a rich man to enter the Kingdom of Heaven. There are many better ways to spend that amount of money to benefit Americans than to buy the Presidency for the pride of one and the benefit of a chosen few.

    June 18, 2012 05:04 pm at 5:04 pm |
  11. v_mag

    I'm a lefty, and very proud of it. If I support a Democrat, it is only because that is my best choice. Democrats don't represent the Left, so when you wingnuts use the terms interchangably, you're tarnishing the good name of the Left.

    People like me condemn oceans of money in politics, no matter which side they benefit. People like me want corrupt officials to go to jail, no matter which party label they wear. People like me want a democracy in this country, not a plutocracy. We are the patriotic Americans, not you narrow-minded wingnut righties.

    June 18, 2012 05:05 pm at 5:05 pm |
  12. Schalaine

    Republicans no longer hide the fact they are of, for and by the rich. Question is...will a majority of this country send a man to the White House who is owned lock, stock, and barrel by the 1%?

    I just don't think we will.

    June 18, 2012 05:06 pm at 5:06 pm |
  13. The Choobs

    Dear SCOTUS: It is clear now (as if it wasn't before?!) that Citizen's United opened the floodgates to allow weighted influence in elections by the wealthy and those who favor corporate interests. We know with certainty that money affects electoral results, based on numerous studies (and I know of no serious study refuting that claim). Your ruling, Justice Roberts et al, is helping to destroy democracy. "Free speech" via money does cannot/should not trump our population of our birthright – free, unfettered, and fair elections.

    June 18, 2012 05:07 pm at 5:07 pm |
  14. The Choobs

    It is clear now (as if it wasn't before?!) that Citizen's United opened the floodgates to allow weighted influence in elections by the wealthy and those who favor corporate interests. We know with certainty that money affects electoral results, based on numerous studies (and I know of no serious study refuting that claim). Your ruling, Justice Roberts et al, is helping to destroy democracy. "Free speech" via money does cannot/should not trump our population of our birthright – free, unfettered, and fair elections.

    June 18, 2012 05:07 pm at 5:07 pm |
  15. michael

    Has everyone forgotten the previous election so soon? The GOP raised nearly twice as much as Obama and Obama won by a landslide. The GOP never learns. They still think you can can simply buy an election. But the people can always speak louder than any amount of money. That's the beauty of this country!
    So, keep on wasting all that money on a Mormon who hates immigrants, women and the poor.

    June 18, 2012 05:08 pm at 5:08 pm |
  16. judy

    this counrty is being bought by foreign money and the repos are the most corrupt

    June 18, 2012 05:08 pm at 5:08 pm |
  17. acura2010

    These clowns throwing millions of $$$$'s in this elections wants favors. It's a d@mn shame. And Americans need to stop fighting each other and go after these greedy thugs!!!

    June 18, 2012 05:08 pm at 5:08 pm |
  18. GaryOwen27

    How I bought the White House.

    June 18, 2012 05:08 pm at 5:08 pm |
  19. Ryan

    Another example of the rich using their money to make themselves richer and more powerful rather than trying to create jobs. To me, it seems as if the private sector is doing fine, they just don't want to let the money trickle down unless they're sure they're going to get it all back with interest. In the case of Sheldon Adelson, he will when people go dump their hard earned money into his casinos. It's a bit ironic that we funnel our money to people who use it to keep us from getting any more money.

    June 18, 2012 05:11 pm at 5:11 pm |
  20. Bill

    2012 Election: Adelson vs. Obama
    $25,000,000,000 vs. $1,000,000.
    GOP Candidate: Guy worth 250M supported by guys with 25B vs. Dem candidate: guy worth 1M supported by a few poor.

    June 18, 2012 05:11 pm at 5:11 pm |
  21. cali girl

    I find it interesting that the rightys are all upset that President Obama is for the unions, big govt.
    Who is Robmey for? His friends are: NASCAR and NFL team owners, Country Clubs, Well Bred Horse owners; and now no unlimited donors up to $100 million each.
    His own deep pockets to his millions made off of liquidating companies and jobs and shipping them off to China. And his offshore non taxable accounts.
    Robmey is going to owe so many when this is said and done. Corruption comes to mind.

    June 18, 2012 05:12 pm at 5:12 pm |
  22. NOVA703

    This is why I say that we now have the worst Supreme Court EVER!

    June 18, 2012 05:15 pm at 5:15 pm |
  23. n

    Take a look America, pull back the curtain and see who is running this election for Romney. These fat cats is who Romney will be working for, not you, the middle class and most definitely not you the poor. Minority folks, don't even think about it. Show the fat cat's who has the power, put party aside this election, show the 1% who control this American House, We the people, collectively will vote for our interest and the 1%, let them eat cake! Obama 2012 . . . Because it's the right thing to do!

    June 18, 2012 05:16 pm at 5:16 pm |
  24. anagram_kid

    Why do ‘righties’ posters, (and I don’t mean that in any derogatory way) seem to think that us ‘lefties’ take no issue with campaign donations from unions, celebrities…etc. I do. I want money out of politics. I want campaigns to have fixed budgets and no more commercials, robo, calls, yard signs, billboards…etc. Just debates and open forums where candidates take questions from the audience. Elections have become less about decision making skills and more who can raise the most cash and present the most negative, splashy ads. Is this an election or a telethon?

    June 18, 2012 05:18 pm at 5:18 pm |
  25. Jane

    All that money at his disposal and does he help the poor, feed the hungry, shelter the homeless? Hell no! That money is for buying a sock puppet to install in the White House so Adelson can show his 'friends' that he owns a bunch of casinos, a lot of real estate, and the U.S. Government. Which confuses me, since he has stated vociferously how he hated wearing the U.S. uniform and would have preferred to fight for the Israelis. Why doesn't he just buy Netenyahu????

    June 18, 2012 05:20 pm at 5:20 pm |
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