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Billionaire casino magnate Sheldon Adelson agreed to cut a $5-million check to the Super PAC supporting Newt Gingrich's campaign late last week as a "last act of loyalty" to an old friend. But Adelson plans to spend many millions more than that -- no matter the eventual GOP nominee -- to defeat President Obama, two close associates tells NBC News.
One of the associates said that Adelson's contributions to the anti-Obama cause may be greater "by a factor of five" than the donation he made last Friday. That suggests he may give as much as $25 million to GOP Super PACs gearing up to run attack TV ads against Obama.
"This is about a 20-year friendship with Newt," said one associate, who asked not to be identified but who has participated in discussions about the $5-million contribution Adelson made to Winning Our Future, the pro-Gingrich Super PAC. "He wanted to do something to help his friend who needs his help."
"But in his mind, whatever fallout there comes from this will be more than made up by the support he brings to the table" for the fall campaign, the associate added. "He has made clear he'll spend whatever it takes to defeat Barack Obama and support whoever is the nominee."
Adelson "agonized over" the contribution, said a second source close to the casino magnate, in part because he knew that Mitt Romney's campaign would be "pissed."
But Adelson understood that "Newt's got to perform well" in South Carolina and "in a time of need, he felt he had an obligation to help his friend," the second source said.
The $5-million donation by Adelson is the largest known donation yet to so-called "Super PACs"-- groups that can take unlimited funds from wealthy donors and corporations. It dramatically illustrates the outside role that billionaire donors are having in shaping the GOP race.
After receiving the money from Adelson on Friday, Winning Our Future immediately made a $3.4 million ad buy in South Carolina in order to run blistering attacks on Romney's record as chief executive of Bain Capital, accusing him of reaping millions of dollars in profits by buying up companies and shutting down their factories. The ads will be based on clips from a 27-minute film, "King of Bain: When Mitt Romney Came to Town," that describes the GOP front-runner as a "predatory corporate raider."
Whether Adelson's contributions for the presidential race reach $25 million, or even exceed that, there is little question he has the resources to make such donations. The 77-year-old chief executive of the Las Vegas Sands Corp. -- who personally owns more than 40% of the stock of the international gambling firm -- is currently ranked as the eighth-richest American by Forbes Magazine, with a net worth of $21.5 billion.
A longtime generous GOP donor, he has been especially close to Gingrich, having given the former speaker's political organization more than $7 million in the last five years and making one of his jets available to fly Gingrich around the country to speaking engagements.
Adelson is also controversial: He has been involved in ferocious battles with labor unions in Las Vegas over his efforts to build non-union casinos. His worldwide gambling firm is currently under criminal investigation by the U.S. Justice Department and the Securities and Exchange Commission for allegedly paying bribes to Chinese officials to secure a casino license in Macau. (The firm has adamantly denied the charges and said they stem from unfounded allegations made by a "disgruntled former employee.")
He is also a staunch backer of Israel and owns a newspaper in that country -- a publication that has featured Gingrich on its front page. After Gingrich recently stirred controversy by saying the Palestinians were an "invented" people," Adelson rushed to his defense telling a pro-Israeli group, "Read the history of those who call themselves Palestinians and you will see why" Gingrich said what he did.
Ron Reese, a spokesman for Las Vegas Sands, declined to comment on Adelson's contribution on Monday.
The first Adelson associate acknowledged he was surprised to see that Adelson's money is being used to fund ads based on the film about Romney and Bain Capital. The movie features interviews with workers who lost their jobs and had their homes foreclosed allegedly because of Bain Capital's actions aimed at boosting the profits of the companies.
Adelson's own fights with union workers in Las Vegas -- and boost his own company's profits -- become so fierce that he was forced to retain full time security because of threats he received from the workers whose jobs were being jeopardized, the associate said.
"The whole thing is ironic," said the associate.
Leave a Comment:
A fool and his money are soon parted. Let him donate 25 million to defeating the President whose administration finally killed Osama bin Laden, if that's what he thinks will help the casino business. What a dope.
Amy,
Does the term "slimeball" pop into your head when thinking about this guy?
$25 million. One donor. One Super PAC.
I don't want to hear another word about Obama's billion dollar campaign. Republicans will easily spend just as much or more. At least the President comes by it honestly.
Mitt and Newt, by contrast, don't want anyone to know exactly how dirty they both are.
Actually since Obama slammed the CONVENTION industry back in 2009 and told companies "they should not go to Las Vegas" he in essence picked his own fight. Nevada has unemployment at something like 14% because Obama influenced who goes to Vegas. Conventions make tons of money for these hotel/casinos and Obama spoke before he used his grey matter - one of many times.
Let's see:
Have you closed Gitmo yet?
Have you stopped military tribunals yet?
Have you successfully tried terrorists in criminal courts yet?
Have you sewed the seeds of doubt in the economy preventing a recovery? The old adage, the deeper the recession the stronger the recovery seems to be false with Obama.
Have you demonized success in this country?
Have you ended to wars in Iraq and Afghanistan by WINNING them?
Have you ceded regional power to Iran?
Have you @!$%# all over Israel in the process?
Have you wasted enough tax payer money yet?
Have you run through enough non-transparent legislation? Obamacare?
How about Solyndra and Fast and Furious?
Have you played up to enough unions yet? Government Motors?
Have you improved our unemployment yet? No one should dare quote that 8.5 number here. It will be restated soon enough.
Yes, a lock for sure. To lose!
Why not Newt? Even though Newt is a greed driven, immoral, lying, elitist, backstabbing, cheating, corrupt, pompous, arrogant, war-mongering, out of touch, un-trustworthy, egotistical, racist, gas bag with mole like facial features, he still shines compared to Romney, just say'in.
Adelson is just another wealthy right wing chicken hawk who serves himself rather than his country. Don't let his support of Israel fool you he just wants to send more American Military to the middle east while cutting deals with China in order to line his pockets. This man is a disgrace to conscientious Jews everywhere.
Cheers for that one, Anna Molly!
AM what is dishonest about this?
Is it against the law?
Does give one pause to wonder what it is that Obama is not doing for him that he figures any 'ol Republican WILL do on his behalf. Just sayin'
Guess you libs are staying with a sinking ship! obama is going to take you down with him! obama already had thrown america under the bus 2008.
Obama is worse than any preident we have ever had. This country, our people, mean nothing to him. Every time he opens his mouth he is either lying or taking credit for something somone else has done. No matter what anyone says, Obama is a muslim. Supposed to be born in Hawaii. Wonder how much that cost. Look at the people in his adminastration. One is stepping down. Daly, ah that name brings a lot to mind. They once even had dead people voting. I truly hope that all of you who brag him up, will come face to face with some of the after effects. But I really wonder if you people are for real or perhaps you are getting paid to sing his praises. If you care for your families, your country and to the future, you had better wake up. Really take the time to check out your "idol" while there is still time. Tell you what, I have been checking out both sides and not just the presidential candidates. I have already made up my mind who won't be one that I vote for in 2012.
sure amy, obama jumped on a plane and killed osama. sure. he took 24 hours to mull the decision. who did he call for advice? he is a traitor, and a communist. he is singlehandedly dividing this country. the baracalypse is almost over amy. and youll be so grateful for the prosperity brought by gop policies. just like gop states! ahhh, but thats too much work for you to look up right? DEBT MAN WALKIN!
Gee, during the past election, didn't Obama receive a substancial bit of funding from those casino bosses in Sin City? Ah, that was prior to his famous statement about not visiting there.
And Amy, Obama didn't kill Osama, he only had to sign the order for a trooper to pull the trigger. The plan to find him, initiated after 9-11, happened on his watch.
Quit with the false statements that Obama did this so well.
So Amy, how is Obamanomics going for you today? Did you happen to have your shovel ready?
Well, I guess trying to buy a president is one way to win a fight over a union. After all, if one thinks it okay to bribe someone over a deal in China, why not?
Another billionnaire hating unionized workers.
Yeah, buy Newt the nomination!
Obama/Biden 2012!
And how much is Obama planning on spending in running to get reelected? Plleese!
I believe it's around 1 billion dollars!
You don't seriously think Democrats are going to drive 55 mph, while the Koch Brothers, Karl Rove & the rest zoom by doing 70, now do you? lol
The right wingers
demandedbought the Citizens United decision by the SCOTUS.DEAL WITH IT!
Maybe next time you all with be more careful what you wish for!
How completely naive you are.
Karl Rove alone plans to raise $250 million to defeat the President -- through no more than 5 or 10 donors. There are plenty more where those came from, like the Koch Brothers and Americans for Prosperity, just to name one more such unit.
Don't suppose for a moment that Republicans will sit back and do nothing -- they will outspend the President, but unlike him, they will do it below the table, and without getting their carefully manicured fingers dirty.
And the ignorant will be fooled. Guess who I'm talking about.
Duane, really? One sleazy-sounding Vegas shister gives $5 million to Newt, and maybe another $20 million to the GOP and the best you offer is to lament about how much President Obama will spend.
Fisty,
Why does Obama have to spend $1 Billion to win an election against such inferior competition? Seems odd to me. If he is so awesome of a leader and has done such a wonderful job to date then why should he have to spend so much?
Some would consider it wasteful with all those poor people hurting out there because he has not been able to get them jobs.
If I was the Republican I would run just such an advertisement.
Nothing more need be said.
So what you are saying it is OK for your guy to try to buy the election but not his opponent. I see. Someone would have to be naive to think President Obama doesn't have huge contributors too. Although I doubt MSNBC would consider that news.
That is freakin hysterical!
Coming from the party who invented SWIFT BOATING!
That's one thing I noticed about you right wing bullies - you're all bark until someone kicks you in the nuts!
The system is what it is - I don't like it but until it is reformed I would suggest you pull up your bug girl panties Duane lots of #'s and DEAL WITH IT!
The truth hurts, doesn't it, Duane.
Question:
Then why does this guy need to give any money? For that matter, why does anyone need to give money to support Republicans? Keep all that money home and create some jobs instead.
Answer:
The thing speaks for itself.
Obama's the one that sold out Israel.....
Decisions have consequences. Looks like about 25 million of 'em.
LOL...let it go Duane.
These left-wing loons want you to believe that Mr. Obama is going to fund his campaign with food stamps.....$1 at a time from the lowly grassroots...
The Obama campaign and their ilk have been bragging about one billion for months.....let em have it......TWO billion aint gonna help the Food Stamp President.
Obama Trauma is over in '12 ;)
Anna Molly,
Apparently after blowing a trillion dollars on stimulus, a billion no longer bothers Democrats, is that it?
If Obama is sooooooooo awesome then why does he have to outspend a Republican loser by 2X or more? You, Fisty and her Vagminions have no answer for that.
And any answer you give will be stupid so as your court appointed attorney I advice you to plead the fifth.
Too funny...good one!
Michael
I come here to remind The Red head, Bev in chi town, Jody... there are other points of view. God knows the Vine needs a lot more of conservative influence to keep it from listing completely over to the left!
Right on Duane but I am afraid your efforts will be in vain. Logic doesn't work in their world.
According to names you typed, someone will always be around to pay their bills. Just think mooches.
If you and your buddy Michael are sooooooooooo awesome, then you would both know that I already answered this question. Twice in fact. Just look up.
But since you apparently don't ....
He won't. Obama will be significantly outspent by the shadowy donors that don't want anyone to know who they are who will spend many, many millions on his opponent's behalf. That die was already cast in Iowa, in case you weren't paying attention because you were so busy licking your ... (oh, never mind).
So noted, but your kind offer to represent me is declined. They say that a lawyer who represents himself has a fool for a client, and you can assume I'll be living proof of that. I'm sure I couldn't afford you anyway as you are sooooooooo awesome.
No one pays my bills but me, Michael. Well, me and my clients.
Micheal
Being one of the few becons oftruth on the Vine is sometimes a lonely and thankless job. I am certain you know the feeling. Thank you For you help in this never ending endeavor. You can only lead the sheep to water. You can not make them drink.
Great......Now I'm just known as a "client"....:(
And ain't that the truth. ;-)
You should be so lucky.
lol....touche'
Gosh, does Feisty suffer from Erectis Permintus or what?
Do you really believe you grew a pair ole girl? Hate to bust you bubble Red, but no one but your libbie membership actually cares about your dribble.
But we do enjoy laughing at you!
Anna Molly thinks "shadowy donors" lurk out there to take down her man. I think I saw one last night when I took out the trash to the curb under the street light - it was me!
Logic dictates that if Obama were the favorite to win the race over an inferior opponent he would not have to outspend the opponent 2 fold. It really is that simple my dear.
Obama is spending even more this time over the last election - why?
Could the 1% make it more obvious whose side they are on?
and of course the GNOP still wants to cut taxes for these yahoos to "stimulate" job growth.....overseas....
Don't tempt them. ;-)
When will you people realize that the 1% are on both sides.
Obama, Clinton, Romney, Gingrich, Koch, Soros.......all 1%'ers.
Whining about the silly reports here at FR just makes you look naive.
And I love the comments about "A fool and his money"
Dude is a Billionaire. Probably can't be a fool and be a Billionaire.
Under investigation for allegedly bribing the Chinese, trying to make Vegas casinos non-union so he can avoid paying something more than minimum wage to workers so he can make even more millions on the backs of worker bees; giving $5 million to Newt and pledging maybe another $20 million to the GOP nominee so that he can buy government to help him break the backs of Vegas workers--and the GOP talks about having integrity.
People giving money to political candidates happens on BOTH sides of the aisle. Trying to make it look like this is only something that the GOP does is absurd.
On the other note you made, put yourself in an ownership role. If you were running a business would you rather have your employees in a union or non-union? If they are actually paid more in the casinos and you were running it, would you like to pay more to get the same results? And just because a person is non-union doesn't mean that they are paid less. In many cases non-union members are paid higher hourly wages to keep their workers out of a union. When I worked as a teamster with Pepsi, all drivers except those working for 7-UP were also teamsters. The 7-UP drivers were paid a better hourly wage, earned overtime pay after the first truck was delivered and had better benefits. 7-UP did this to prevent their workers from striking and using union leverage to save the jobs of poor performing employees. It worked great for them and I would imagine that it has worked well for other employers as well.
So the rich will do anything to stop President Obama! Sounds like it is on! Just more fuel to keep me Fired UP!!
President Obama 2012
Goodnes, gotta feel for a guy who can ONLY give 25 million of his personal earnings to buy his way. I can't imagine how much he would be able to give if the President's socialist, marxist, neo-Nigerian colonialist econ policies hadn't been in place eroding at the poor man's wealth.
Are you friggin kidding me?!!?!!
>supporting Newt Gingrich's campaign
stinky is as stinky do
What concerns me more is why insurance companies are allowed to decide who lives or dies in this country. Why are they allowed to ruin peoples lives?
What concerns me more is why insurance companies are allowed to decide who lives or die in this country. Why are they allowed to ruin peoples lives?
Mr. Adelson,
Please contact me concerning your willingness to invest in a constructive Super Pac filled with creative thinkers.
For 25 million dollars I am quite confident that your money will not only bring an attractive return on your investment, but will ultimately set the new standard for all Super Pacs in the future.
While I am not at liberty to discuss the legal ramifications afforded Super Pacs by the U.S. Supreme Court's ruling of Citizens United, If you trust me, then you will never be sorry.
Since you have made your money in the casino industry, it is apparent that you always favor the house rules. Why shouldn't a man stack the deck in his favor? I can assure you sir, that once you experience my legal method of Super Pac extravaganza, then you will leave the casino business for this much more lucrative enterprise.
Thank you Mr. Adelson for taking the time to consider my proposal. If you really want to make money instead of just throwing it away, then please feel free to contact me. However, I must let you know that there are a lot of Super Pacs being set up, and few if any can offer what I am suggesting. Furthermore, time is of utmost importance, and others are waiting to take advantage of this ground floor opportunity.
If you are interested in more information, then I am ready and willing to provide a prospectus, but certain things cannot be provided because of legalities. Thank you so much for your consideration, and I will look forward to working with you to establish this new and exciting industry.
Sincerely,
Disabled Voter