Major GOP donor eyes $100 million in donations
June 18th, 2012
03:05 PM ET
3 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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Filed under: 2012 • Fundraising • Mitt Romney
soundoff (284 Responses)
  1. Ben

    What a shame. So much good could be done with that money. No wonder people aren't patriotic anymore.

    June 18, 2012 09:32 pm at 9:32 pm |
  2. Gobsmacked

    SCOTUS, I blame you. You have completely neglected your duty by allowing Citizen's United to prevail. That vote was the beginning of the destruction of US democracy, and you out to feel so dirty for voting for it that you'll never be able to wash yourselves enough to get clean.

    June 18, 2012 09:32 pm at 9:32 pm |
  3. Camper

    The R in republican stands for Rich, you vote this party in and you lose...period!

    June 18, 2012 09:32 pm at 9:32 pm |
  4. USwatcher

    This is just one more reason why I can not vote for Romney.

    June 18, 2012 09:34 pm at 9:34 pm |
  5. Camper

    Romneys wife has not held a job in the public all her life. How can she even try t relate to other Women who have had to sacrifice for their family?

    June 18, 2012 09:35 pm at 9:35 pm |
  6. rconatser1

    What the Supreme Court did in their ruling, allowing this sort of election buying, shows they are not concerned with the law as much as pushing their party's agenda. It is disgusting. The lifetime appointments of the SCOTUS needs to stop. Now.

    June 18, 2012 09:52 pm at 9:52 pm |
  7. clarke

    This is so out of control. What will Mitt give him in return? Good way to launder money legally.

    June 18, 2012 09:53 pm at 9:53 pm |
  8. opinion8it

    Thank you Supreme Court - thanks to you the fate of the American people is in the hands of a small group of really wealthy men.

    June 18, 2012 09:53 pm at 9:53 pm |
  9. Cynthia L.

    I guess, the reason I have stopped voting Republican is that they have turned into something not worth voting for. I suspect that many people have dropped out for the very same reason. Thus, the void the big money guns are filling. The world is watching my friends. They have heard us bashing other countries for the very same thing in the past and now it's happening to us big time. Not good. Not good at all.

    June 18, 2012 09:54 pm at 9:54 pm |
  10. Americanmade

    I can use the money. Send me some and I'll vote for Romney. Heck just give the ordinary people your money to vote for Romney instead of the Media, advertising companies and lawyers.

    June 18, 2012 09:56 pm at 9:56 pm |
  11. sahara

    America is for Sale, the GOP was Auctioned many years back and now, they are about to sale the nation to the highest bidder, its a shame

    June 18, 2012 09:56 pm at 9:56 pm |
  12. Camper

    Try to compare the First Lady to Romneys wife as the next First Lady. Michelle Obama went to Princetown, then onto Harvard and is a lawyer. romneys wife (cute as she is) is a house wife, never worked a day in her life in public. Who do would you want to represent Our Country at a foreign affair dinner? Romneys wife can only tell how hard it was raising the boy's at home, especially when the servant didn't buy the correct ingrediants for tonights dinner. I don't know Y romney would put his wife in this position, oh yes I do...because she has no say so in any family matters. Shame on me for forgetting that, Romneys in charge!

    June 18, 2012 09:58 pm at 9:58 pm |
  13. Chipster

    We have the worst Supreme Court that money can buy so why should our government be any different?

    June 18, 2012 09:58 pm at 9:58 pm |
  14. sahara

    just watch how it will all unfold, they will go to many many wars, military contractors are waiting for Mitt to give them more wars, then after screwing us up again, another democrat will come and clean up their mess, then the GOP will be back with their stupid spin, jobs jobs jobs, we didnt do it, the other party did it, afterall they have it for two years, shame on you repubs

    June 18, 2012 09:59 pm at 9:59 pm |
  15. donchaknow

    Just goes to show you that those who believe this country will suddenly shed over 200 years of Christian tradition and suddenly become Muslim apparently have no clue to what an actual threat to America looks like. How can Jewish mobsters financing political campaigns not wake people up?

    June 18, 2012 10:00 pm at 10:00 pm |
  16. citizen9

    The tv stations and networks have got to love the Citizens ruling. Who would have thought the SCOTUS would be a stimulus creator.

    June 18, 2012 10:04 pm at 10:04 pm |
  17. Charles

    Wasn't Obama the billion dollar man in 2008? The money tree works both ways. If you look at the corporations that donated to Obama in 2008 you will find numerous large donations. I wish the candidates would be limited on how much their campaign can spend....and most importantly, I wish the media would treat all candidates fairly instead of promoting their agenda. Our politics are becoming a joke, but don't pretend that the problems only exist on the other side of the aisle.

    June 18, 2012 10:13 pm at 10:13 pm |
  18. SafeJourney

    Welcome to the United Corporations of America, in Profits we trust.

    Mitt sold his mormon soul to the sin city mob boss.

    June 18, 2012 10:15 pm at 10:15 pm |
  19. James Ruston

    What a disgrace. Roberts–are you paying attention? Your legacy as a Supreme Court justice will be a generation of political corruption.

    June 18, 2012 10:25 pm at 10:25 pm |
  20. Eric

    According to the Supreme Court (Citizens United) money is free speech. I'll probably donate $100 in this campaign to a variety of causes and candidates. Why does Mr. Adelson get 1 milllion times more "free speech" as me? Are his political views 1 millions times more valid than mine?

    June 18, 2012 10:26 pm at 10:26 pm |
  21. abbydelabbey

    the 1% purchasing politicians one at a time - buying political office one at a time -

    goodbye, democracy

    hello, plutocracy

    June 18, 2012 10:29 pm at 10:29 pm |
  22. COLBERT STEIN

    Democracy is now on sale in America.So why shd we be dictating to other nation how they shd govern when we dont get it after all in our own country?.

    June 18, 2012 10:31 pm at 10:31 pm |
  23. rand

    John Reed Jr.........."The republicans have the audacity to critisize Obama for having so many fundraisers" I almost fell over laughing. Obama has has 150 fund raisers and he STILL can't catch up to Romney. WHY? Because Obama needs to be running for reelection in SWEDEN!!!! That's more his European governing style....................

    June 18, 2012 10:31 pm at 10:31 pm |
  24. rand

    Funny how you didn't hear Liberals whining when all the big donations went Obama's way......like the record breaking donations from the last election. Hilarious!!

    June 18, 2012 10:33 pm at 10:33 pm |
  25. Vincent

    Does anyone actually believe that these guys are just throwing all this money at the candidates to be elected as POTUS and it wont be repaid to them in some form ? :D

    And of the $25Billion of his fortune, how many hundreds of millions did he save by tax evasion, only to use it then to buy a president and a nation ?
    Maybe thats the point. To save him many more hundreds of millions than what he put in to the election. Thats pretty good return on investment.

    I have conservative leanings myself when it comes to finances. But this destruction of democracy by allowing these people to buy elections has become ridiculous.

    June 18, 2012 10:38 pm at 10:38 pm |
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