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. Melo-D

    Can someon please explain to me why these people can't pay more taxes. Are we keeping their taxes low so they can give more million dollar political donations?? This country is warped!

    June 18, 2012 08:16 pm at 8:16 pm |
  2. DJ

    No matter who it for there should be a limit on donation during an Presidential election year. It is sad because so much of that extra money could help so many who are out of work and suffering.

    June 18, 2012 08:17 pm at 8:17 pm |
  3. Lewy

    Adelson originally made his money off the Las Vegas Comdex personal computer show, which is remarkable as he couldn't tell a PC from a window air-conditioner.

    June 18, 2012 08:26 pm at 8:26 pm |
  4. JJ

    This is the same loozer who bet on Gingrich???? HAAAAAAAAAAAAAAAAAAAAAAAHAHAHAHAHA!!!!!!!!!!!

    June 18, 2012 08:27 pm at 8:27 pm |
  5. dreamer96

    It really bugs me that our campaigns are raising that kind of money, but the rich are fighting against new taxes...This billionaire could buy robotic arms and legs for our returning soldiers or create renewable energy business..but he is using it to try to buy votes so he can buy a piece of our government..Tax him 100 million...

    June 18, 2012 08:28 pm at 8:28 pm |
  6. Wiley Thruster

    Sheldon Adelson is the kind of story Democrats despise....a success story.

    June 18, 2012 08:28 pm at 8:28 pm |
  7. john

    American presidency for sale–to the highest bidder.

    June 18, 2012 08:30 pm at 8:30 pm |
  8. Welcome to the Oligarchy

    RIP, democracy – guess we get whatever the richies want & to hell with the people's will

    June 18, 2012 08:32 pm at 8:32 pm |
  9. JoeFL

    New GOP slogan.

    Save a Billionaire.
    Vote Republican.

    June 18, 2012 08:34 pm at 8:34 pm |
  10. Spike2014

    Same on both sides. Big money both ways, whether you receive it from billionaires or Hollywood half wit morons. It's easy to say you fight for the poor when you live in a mansion in Hollywood...

    June 18, 2012 08:34 pm at 8:34 pm |
  11. CanterberryRT

    Go get 'em Addy. But just remember, there are some of us who don't like the idea of billionaires buying our presidents. Next time I'm in Vegas, I'll be sure and cross your Venetian off my list - I have no interest in supporting your political agenda with my hard-earned money.

    June 18, 2012 08:39 pm at 8:39 pm |
  12. sqeptiq

    November 2012: US government bought and paid for.
    Henceforth the oligarchs will just name the presidents and eschew elections except as farce.

    June 18, 2012 08:40 pm at 8:40 pm |
  13. ElectClinton

    Shouldn't this man be jailed for this?

    June 18, 2012 08:42 pm at 8:42 pm |
  14. Hap

    Which party blamed the other for legislating from the bench? This makes anything the lower courts have done look microscopic in comparison. The super rich have been working towards undoing everything the working class has achieved since 1900, what is so sad are the working class republicans that, for whatever reason, are helping them. It is sad and at the same time impressive that the real republicans are able to keep fooling them over (Reagan) and over (Bush 1) and over (Bush2), and now they're backing the biggest phoney of all, willingly and blindly, just amazing. One born every minute.

    June 18, 2012 08:43 pm at 8:43 pm |
  15. BO stinks

    Nice.

    June 18, 2012 08:43 pm at 8:43 pm |
  16. snowdogg

    "It all goes back to the US Supreme Court who in their wisdom (or lack of) said it was ok for elected office to be bought and paid for by bribery."

    Yeah, that.

    June 18, 2012 08:44 pm at 8:44 pm |
  17. Jatovi

    Here is an analogy:

    The strongest sport, The NFL
    The weakest sport, Boxing

    Seen as the most corrupt due to money, Boxing
    Has a strong Union, NFL

    Practices revenue sharing to strengthen the sport, NFL
    Dog eat dog, Boxing

    Which will survive the longest, NFL
    Which will not last unless there are major changes, Boxing

    Why is a quasi-socialist approach so bad for the US?

    June 18, 2012 08:49 pm at 8:49 pm |
  18. pjoe

    George Soros ... meet your alter-ego ... Mr. Sheldon Adelson.

    June 18, 2012 08:55 pm at 8:55 pm |
  19. Weiss

    The NFL NBA & BASEBALL all have salary caps ... It is long overdue for a campaign contribution salary cap to even the playing field for ALL.....

    June 18, 2012 08:56 pm at 8:56 pm |
  20. Liz the First

    Does anyone need any more clear proof that the Greed Over People party is for the rich and not for the rest of us????? this amount of money going to any political campaign is an obscenity. if this donor cared about the country, think of all the good he could do with this kind of money.

    June 18, 2012 09:00 pm at 9:00 pm |
  21. Core republican Values

    Wow. You would think a Jewish person would never support the party of narrow minded, intolerant bigots. Shame on you Mr. Adelson.

    June 18, 2012 09:18 pm at 9:18 pm |
  22. Joseph B

    Just remember to vote against these people who are trying to buy the election this year. And remember to vote for candidates who promise to overturn the Citizens United decision.

    June 18, 2012 09:20 pm at 9:20 pm |
  23. tony

    Why d0n't we just legalize buying votes? Far quicker and cheaper than going through the TV ads,

    June 18, 2012 09:21 pm at 9:21 pm |
  24. Mike

    A lot of people and a few redneck states have threatened to leave the US if America elects Obama a second time. Here is Americas chance to be rid of this countries worst part.

    June 18, 2012 09:22 pm at 9:22 pm |
  25. Edie Simmons

    The sad part is thier is so much good use he could do with that money like fund family planning, Donate to food banks open a company that puts people to work it's sad he would give it to Mitt Thier campaign has way to much money to waste ,Edie Simmons

    June 18, 2012 09:30 pm at 9:30 pm |
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