One Billionaire Has Spent $70 Million Trying To Get Republicans Elected In November
Casino mogul Sheldon Adelson has put his money on the line hoping to get Mitt Romney and other Republicans elected.
Adelson, whose holdings include The Venetian resort on the Las Vegas Strip, is the first person to spend $70 million to influence an election — all going to super PACs and other outside groups with ties to Mitt Romney, House Speaker John Boehner and House Majority Leader Eric Cantor, among other Republicans. Adelson has pledged he will spend as much as $100 million in the 2012 election.
By comparison, hedge fund manager George Soros gave $24 million to Democratic groups in 2004 — described by Politico as the previous record holder in terms of exerting individual influence. Put another way, Obama spent more than 10 times what Adelson has spent (or a total of $730 million) to win the White House in 2008.
Adelson’s net worth is $20.5 billion, according to Forbes magazine.