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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Romney sees bright side of rain-soaked campaign event


Filed under: 2012 • Fundraising • Mitt Romney
soundoff (284 Responses)
  1. Obama - Protecting the rights of ILLEGAL ALIENS to invade our country while SUING states to make sure they can vote as well

    nipthedog – $100 Million dollars. Enough money to provide $3000 per month for one year for 2,778 families.
    =====================================================================================
    Not to worry, they are already getting far more than this from the government, ALSO paid for by the same rich people.

    June 18, 2012 05:21 pm at 5:21 pm |
  2. J.V.Hodgson

    Whether or not you or I wish to blame this money in politics farce on the SCOTUS being politically biased in its decision on Citizens United now becomes almost irrelevant.
    The why is simple. Much, much more money is feeding into political campaigns and cannot help but have an influence some how. And, it is a well respected concept that " money is the root of all evil" and as Senator McCain has said will ultimately lead to "corruption" somewhere or at least" undue influence".
    Regards,
    Hodgson.

    June 18, 2012 05:21 pm at 5:21 pm |
  3. Civitas

    Is he more AMERICAN than I am? Must be.

    June 18, 2012 05:22 pm at 5:22 pm |
  4. JohnReedjr

    The Rebublicans have the audacity to criticize Obama for attending so many fund raisers, which he has to do to have a chance. When will people see through their duplicity. These people who are shelling put multi-million dollar contributions want something in return. They are not just trying to get rid of their money because it's too heavy to carry around. What do you think they are looking for?

    June 18, 2012 05:27 pm at 5:27 pm |
  5. tony

    Own and govern your own Super-Power! Only one winner, so buy your ticket now. Offer expires November 20112

    June 18, 2012 05:29 pm at 5:29 pm |
  6. Mr. Moderate

    He wants us to go to war with Iran and he so wants to do it, he is willing to essentially buy the politicians who will do it.

    Yet again, someone showing us that the rich can pay more taxes without out it negatively impacting the economy.

    June 18, 2012 05:32 pm at 5:32 pm |
  7. Patriot

    Good by democracy hello plutocracy
    "Plutocracy" is formally defined as government by the wealthy, and is also sometimes used to refer to a wealthy class that controls a government, often from behind the scenes. More generally, a plutocracy is any form of government in which the wealthy exercise the preponderance of political power, whether directly or indirectly.
    Another of the million and one reasons never to vote for the GOP.

    June 18, 2012 05:32 pm at 5:32 pm |
  8. hwy9

    Could one of you conservative working folk out there please explain to me why you think that the billionaires of our nation want so badly to put Mitt in the White House, and why it is that you support that. I'll give you a clue – the big money guys – Adelson, the Kochs, et all – aren't pouring in the big bucks to help you, the 99%... OK, so go... Why do YOU think they want Romney in WH?

    June 18, 2012 05:33 pm at 5:33 pm |
  9. Larry L

    Thank you US Supreme Court Republicans. Democracy is dead.

    June 18, 2012 05:37 pm at 5:37 pm |
  10. tonyl

    It maybe legal to give such humongous amounts but this unethical behavior will be the reason for destruction of our nation as we know have known it since it's birth. This is clearly buying the politicians and it is 100% legal corruption. I hope the independent Americans are getting informed about this outrageous corrupt behavior. God help us.

    June 18, 2012 05:43 pm at 5:43 pm |
  11. kayla

    don't worry president obama, no money in the world will defeat you. God is on your side
    God Bless

    June 18, 2012 05:54 pm at 5:54 pm |
  12. John The Electrician

    Meg thought she could buy the governership here in California, didn't work for her and it isn't going to work for Mitt. I'm just sick of the ultra rich telling everyone how to live.

    June 18, 2012 06:03 pm at 6:03 pm |
  13. jamison

    The Supreme Court has totally screwed up Democracy for our country. Time to storm the Bastille and get rid of these so called "Justices."

    June 18, 2012 06:22 pm at 6:22 pm |
  14. gop hate america

    so much for using that money to create jobs.

    June 18, 2012 06:24 pm at 6:24 pm |
  15. Brad

    Why not send me a million, and everybody else, mabe then we would vote for the rich to win this election.

    June 18, 2012 06:26 pm at 6:26 pm |
  16. 2008

    In 2008 didn't Obama forgo public money so he could raise more money?

    June 18, 2012 06:30 pm at 6:30 pm |
  17. Roy B.

    Obscene! One voter can contribute $100 million. The Supreme Court's decision on this loosening has opened a Pandora's box that essentially says, "Screw the common voter. Let the rich rule."

    June 18, 2012 06:32 pm at 6:32 pm |
  18. studdmuffins

    So, nothing is mentioned of the supposed billion the president is purportedly raising for just his re-election bid but a tenth of that is headline material....?

    June 18, 2012 06:34 pm at 6:34 pm |
  19. Grace Blue

    this money will be injected in this poor economy, we need that, at lists tons of businesses and it's employees will benefits from it, now it's probably sitting in his saving accounts or possibly overseas.

    June 18, 2012 06:36 pm at 6:36 pm |
  20. Grace Blue

    When the president of this country uses the policy of Divide and Conquer and makes all of us fight between classes and who has more or less you know thing will end up badly. This great nation has been proposer and abundant when all of its citizens stand together. Blaming one another will take us no where, but will allow Mr. Obama to win this upcoming election.
    As an employee myself, if you help your employer if you work hard and help the company to be prosperous you be rewarded, but if you sit there complained and spent all day wasting your paid time blaming everyone else for your mediocre life you will nowhere. This is still the land of the opportunity, if you work hard and with honesty.

    June 18, 2012 06:41 pm at 6:41 pm |
  21. Grace Blue

    Also this government gave 1 billion dollars to a car company, just like that, 1 BILLION dollars, tax dollars, in hope this company will create employment and and create an alternative electric car. The person that was given this money, took the jobs overseas, didn't fulfill any of the agreements but walked away with all these tax money, treated US small businesses who provided him with proposal and work with nothing but arrogance and bought a masseratti for his personal leisure, all on tax money, SO ..... what is the difference than this money being given .

    June 18, 2012 06:45 pm at 6:45 pm |
  22. Bill in Calif

    IT must be very difficult for you lefties to get beaten down even after stacking the deck in your favor. If you can't stand the heat, get out of the kitchen.

    June 18, 2012 06:45 pm at 6:45 pm |
  23. Royce

    Sad that of all the causes this man could put $100 million towards, this is what he chooses.

    June 18, 2012 06:53 pm at 6:53 pm |
  24. Rick in Az

    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 –

    -------------------------------------------

    As an Independent I get the impression these liberals aren't scared. I get the impression the liberals are just being realist about right now. They seem to be posting that the rich are going to use their money to make themselves more money, no matter which party they belong to. All the while the conservatives seem to be living in Never, Never land trying to convince us Independents that the rich will use their money to create jobs and fix the economy... Between the Mormon Church and Adelson poor Romney is going to have to walk a very tight rope to please them both.

    June 18, 2012 06:53 pm at 6:53 pm |
  25. Fed Up

    The ultra wealthy spent 750 million dollars getting GW Bush elected, because they knew they would get that back plus more. And it worked. How many wealthy Americans got even more rich thanks to Bush's wars, selling weapons and how many billions did Halliburton and Dick Cheney make? When wealthy people give mass amounts of money to politicans, it's because they're planning on getting it back, plus more.

    June 18, 2012 06:56 pm at 6:56 pm |
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