Thursday, December 6, 2012

Wow, Adelsons Gave $33 Million in Final Weeks of Campaign

Las Vegas casino mogul Sheldon Adelson and his wife contributed a whopping $33 million to a late Republican blitz to help Mitt Romney‘s effort to win the White House.
Campaign-finance reports released today covering the final three weeks of the election show that Mr. Adelson and his wife donated the money to a pair of Republican super PACs created to help the Republican presidential candidate.
Mr. Adelson and his wife, Miriam Adelson, donated $23 million to a super PAC created by Karl Rove called American Crossroads and another $10 million to a group run by former aides to Mr. Romney, called Restore Our Future.
Sheldon Adelson said he is not losing sleep over the election results, despite spending more than $100 million on Republican causes.

“I happen to be in a unique business where winning and losing is the basis of the entire business,” he told WSJ. “So I don’t cry when I lose. There’s always a new hand coming up.”

Adelson was in Washington D.C. earlier this week and reports are that he met with at least one Republican House leader.

He has plenty of money left for 2014 and 2016 elections. His net worth is estimated to be over $30 billion and the Sands Casino, of which he is the largest shareholder, is paying out a special dividend to beat coming tax hikes. It will put an additional $1.3 billion cold cash in his pocket.

If you want to see congressman jump, get a ticket to meetings he will hold with them.

1 comment:

  1. Speaking of the Sands Casino, I just finished two book that dealt with different eras of Las Vegas History. "Winner Takes All", which deals with the era of Steve Wynn, Kerkorkian, and Anderson. "When the Mob ran Vegas" deals with the time before Wynn came on the scene. Both are absolutely fascinating. But, I like reading about business history almost more than I like reading about economics.