Sheldon Adelson and wife give $10 million to pro-Romney super PAC
October 25th, 2012
11:02 PM ET
1 year ago

Sheldon Adelson and wife give $10 million to pro-Romney super PAC

Washington (CNN) - Thanks to $10 million in new donations from Nevada billionaire Sheldon Adelson and his wife, the pro-Romney super PAC Restore Our Future raised more than $20 million during the first half of this month, according to a financial disclosure form filed with the Federal Election Commission Thursday.

The group had more than $36 million cash on hand, and spent $12 million, as of October 17.

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The haul so far in October is almost as much as it raised in August and September combined.

The new contributions by the Adelsons bring the couple's total to Restore Our Future to $20 million.

Restore Our Future launched a major swing state ad campaign earlier this week, buying almost $18 million worth of commercial time in 10 states.

For the Adelsons, who rank as the top givers to outside political groups according to the non-partisan Center for Responsive Politics, this latest donation means they have given at least $61 million this campaign cycle to entities which have to disclose their donors: super PACs, campaign committees and candidates.

Mr. Adelson is a controversial Nevada magnate who operates casinos both in Nevada and overseas.

He has been the highest profile Republican donor this election cycle because of the growing influence of super PACs and his willingness to give to them. He and his wife donated millions to Winning Our Future, the super PAC that was largely responsible for helping keep Newt Gingrich in the GOP primary contest.

After Gingrich dropped out, Adelson was at first reluctant to support Romney. After several meetings and conversations, however, Adelson decided to embrace the Republican nominee. One reason, associates have said, is because Adelson is determined to do all he can to make sure President Barack Obama is not re-elected. Another key objective for him is the safety of Israel, and he believes Romney would be a stronger friend of the Jewish state than Obama, friends have said.

Adelson hosted a fund-raiser for Romney and went to Israel to join the Republican nominee during his July trip.

He has told friends he and his wife could spend as much as $100 million this election to help elect the Republican nominee and support GOP congressional candidates.

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Filed under: 2012 • Fundraising • Mitt Romney
soundoff (90 Responses)
  1. NoTags

    It looks like Sheldon Adelson is trying to buy us into a war with Iran.

    October 26, 2012 05:13 am at 5:13 am |
  2. Andrew

    SICK! These people who give this money away is really SICK! Romney and Obama are not qualify to be President of the USA! These people who give money away, why don't these people just create jobs! But no, they don't care about the people they are supposed help out! No, they only care about themselves! GREEDY people!

    October 26, 2012 05:16 am at 5:16 am |
  3. Bri-Guy35

    "Another key objective for him is the safety of Israel, and he believes Romney would be a stronger friend of the Jewish state than Obama, friends have said." Or maybe hes a millionaire and a typical greedy individual who doesn't feel like he should pay taxes! Typical GREED!

    October 26, 2012 05:30 am at 5:30 am |
  4. dina

    Money well spent, if you ask me. President Obama is no friend of Nevada or Israel. Nothing wrong with spending your own money any way you wish. President Obama said "you didn't build that" to business people. I hope this proves him wrong.

    October 26, 2012 05:30 am at 5:30 am |
  5. Orso

    $10 Million is peanuts compared to the amount of money he will save on tax exemptions for the rich if Romney gets elected. Good investment.

    October 26, 2012 05:33 am at 5:33 am |
  6. whitmanguy

    Such is the state of American democracy 2012. We have the Bush Supreme Court to thank for this unholy transfer of power from the people to the 1%.

    October 26, 2012 05:34 am at 5:34 am |
  7. Zenitram

    Yes yes, let them "self tax" in order to keep guys in the white house that benefit them and their kin.

    October 26, 2012 05:34 am at 5:34 am |
  8. John

    "Winning our future" – yeah right, billionaires winning their future

    October 26, 2012 05:34 am at 5:34 am |
  9. bobhamiltonchicago

    I hope that there is an even more wealthy donor giving President Obama money. It does appear that the Republicans are being out-raised by the Democrats, so far, in this election. I know it's the most money I have ever given, now totalling close to 100. No letters, just $100 dollars. What?! How much have you given to the President?

    October 26, 2012 05:35 am at 5:35 am |
  10. Save Social Security

    Adleson wants us/US to continue to spend trillions of dollars fighting Israel's wars. He doesn't care if it bankrupts America and forces drastic cuts to social security and medicare. Stop Adelson, vote Obama.

    October 26, 2012 05:36 am at 5:36 am |
  11. Concerned

    That's a good example why Citizens United must be overturned – so much influence on election from such a narrow group.

    October 26, 2012 05:38 am at 5:38 am |
  12. cool way

    To buy an election... Money should not buy votes.

    October 26, 2012 05:41 am at 5:41 am |
  13. Mark Yelka

    Election for sale.

    October 26, 2012 05:44 am at 5:44 am |
  14. packerfans

    Come on Vote for Mitt Romney and Paul ryan 2012!!! Unhappy other President Vote 2016 Or same second terms Mitt if he prove sucessful for four year his record!! Obama already falied so far way and bad record and keep forward worser fail and not understand buiness!! Obamacare pentaly after you 2013?? He taking away your freedom!!

    October 26, 2012 05:46 am at 5:46 am |
  15. crazeelegs

    I hope this guy spends all his money on Mitt and when President Obama wins, I hope this guy is homeless and has to sleep in an alley. Big money is ruining the election process.

    October 26, 2012 05:54 am at 5:54 am |
  16. mb2010a

    Here are the main reasons Adelson supprots Romney and the Republicans, and it has nothing to do with Israel:

    Romney’s tax plan would help Adelson in the following ways:

    • Cut top tax rates, saving Adelson approximately $1.5 million on his annual compensation as chief executive of his casino company.

    • Maintain the special low rates on dividends, potentially saving Adelson nearly $120 million on a single year’s worth of dividends, more than enough to recoup his political donations.

    • Maintain the special low rates on capital gains, allowing Adelson to make back his political donations in capital gains tax cuts just by selling a fraction of his stock.

    • Provide a tax windfall of an estimated $1.2 billion to Adelson’s company, Las Vegas Sands Corp., on untaxed profits from its Asian casinos, as well as a tax exemption for future overseas profits. Adelson’s casinos already enjoy a special foreign tax exemption from the Chinese administrative region of Macau, and Gov. Romney would make those foreign profits exempt from U.S. taxes as well.

    • Eliminate the estate tax, potentially providing a staggering $8.9 billion windfall to Adelson’s heirs.

    October 26, 2012 06:02 am at 6:02 am |
  17. werescrewed2012

    The whole "super pac" thing is outrageous. The system just becomes more corrupt as we watch our politicians being bought.

    October 26, 2012 06:16 am at 6:16 am |
  18. paul

    will donate 100 million not because he likes romney, but because he hates obama. where do these guys get this kind of monopoly money? good lord

    October 26, 2012 06:16 am at 6:16 am |
  19. St. James Place

    America bought and paid for by the mega rich. The losers in this election will be the middle class.

    October 26, 2012 06:17 am at 6:17 am |
  20. MrRickinNH

    This is the very thing that's wrong with our election system!

    October 26, 2012 06:20 am at 6:20 am |
  21. Roger

    This is one of the worst men in America. And his might makes right philosophy will be the end of Israel.

    October 26, 2012 06:22 am at 6:22 am |
  22. Frank in Pensacola, FL

    so much for the earlier claim that Mittens RMoney raised most of the cash through donations of $250 or less. As I posted back then, it was spin to get you to believe that he really does care about the 47%. Just like he cares about the Tea Party (until the nomination was his) and the mainstream Republican party (until he needs the moderate vote). The guy changes "core" beliefs any time he needs to win more votes and lies, lies, lies to get what he needs. Whatcha wanna bet old Sheldon's lucky his main purchase is getting Obama out of office. 'Cause if RMoney and Lyan win, that'll be all he'll have bought REGARDLESS of what RMoney's promised him.

    By the way, Mr. Morman RMoney, don't you have beliefs about gambling being immoral? Guess it's OK if the corruption of millions (according to your "beliefs") was necessary to get the money in your pocket.

    October 26, 2012 06:22 am at 6:22 am |
  23. Name kelvin chisakula

    Its your call Adelson

    October 26, 2012 06:25 am at 6:25 am |
  24. Get Big Businesss out of Politics!

    Not a surprise... This along with Israel cash that Adelson has already laundered through his casino. There is absolutely an agenda here folks. If Romney gets elected, the next stop for our guys and gals on the armed forces will be Iran. Our military will be officially for hire. How anyone Could consider a vote for Romney is beyond me, I've tried to understand it and it just doesn't make any sense. Things are not that bad and are getting better everyday, and you want to throw that all away for another war, two supreme court justices which will overturn Roe vs. Wade and an outright attack on women, their pay and their healthcare. I guess if you are voting Romney, you hate women, you love war and you want to see our economy tanked again by the old bush crew. Just look behind the curtain to see who's on Romney's staff. If that doesn't make you think twice, there is something wrong with you. Period.

    October 26, 2012 06:26 am at 6:26 am |
  25. cm

    Again! Money can't buy you Love.

    October 26, 2012 06:29 am at 6:29 am |
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