Sheldon Adelson: Inside the mind of the mega-donor
The Billion-Dollar Buy: About this series
Like never before, big dollars are having a big impact on politics and governance. This series examines how the new wide-open fundraising landscape will affect the 2012 campaigns.
See also: Inside Koch world | GOP groups plan record $1 billion blitz | Rove hits big: Birth of a mega-donor | Myth of the small donor | The IRS's 'feeble' grip on big political cash | The new normal: $9 million for a rural House seat | Secret money funds GOP door-knockers | The billion-dollar bust?
LAS VEGAS — At the Republican National Convention in Tampa last month, casino magnate Sheldon Adelson got high-fives from strangers; entertained Karl Rove, Rudy Giuliani and George Pataki in his well-stocked luxury box; ate dinner with House Speaker John Boehner; and had a private meeting with House Majority Leader Eric Cantor.
Last week, Adelson got a front-row seat — and a shout-out from Mitt Romney — at a $1 million campaign fundraiser at a Vegas casino. Paul Ryan held a private meeting with Adelson four days after being named Romney’s running mate.
Continue ReadingFull series: The Billion-Dollar Buy
Worth just over $21 billion and now in the cross hairs of the Justice Department and the Securities and Exchange Commission, Adelson has made history: He is the first person to spend $70 million to sway a presidential election, and he plans to spend more — perhaps as much as $100 million — by Election Day. An estimated $20 million to $30 million of the giving went to groups that do not disclose their donors and had not been reported before.
Adelson (pronounced ADDLE-son) is the dominant pioneer of the super PAC era — by far the biggest donor to the web of secretive groups that are adding nearly $1 billion to the more traditional spending by the Romney campaign and the Republican National Committee.
The 79-year-old literally spreads the wealth: He sent $5 million to the super PAC run by Boehner allies and $5 million to the super PAC run by Cantor allies.
(LIST: Republican mega-donors)
Despite his soaring influence as a party kingmaker and his mammoth financial footprint, Adelson is rarely seen or heard, and he has remained mysterious even to many top Republicans. He broke his silence to POLITICO to explain his methods and motives in the most detail he has yet offered.
Blunt and chatty during a two-hour interview in his owner’s suite at The Venetian resort on the Las Vegas strip, Adelson said he will continue to ante up — “whatever it takes” to defeat President Barack Obama, as he repeatedly put it. “I don’t believe one person should influence an election,” he said as he dined on salmon and mixed vegetables in his conference room, with a napkin tucked over his lavender tie. “So, I suppose you’ll ask me, ‘How come I’m doing it?’ Because other single people influence elections.”
(Also on POLITICO: Full series: The Billion-Dollar Buy)
He wants to beat them — and beat them badly: “I suppose you could say that I live on Vince Lombardi’s belief: ‘Winning isn’t everything, it’s the only thing.’ So, I do whatever it takes, as long as it’s moral, ethical, principled, legal.”
Adelson has already given about three times as much as the previous record-holder, hedge fund manager George Soros, who dropped $24 million to try to defeat President George W. Bush in 2004. And Adelson has already given about one-third of the amount that Sen. John McCain (R-Ariz.) spent on his entire campaign in 2008.
Everyone wants Adelson’s money, and so he knows why everyone loves him and comes calling. But he doesn’t really seem to mind getting hit up, enjoying the combat as an eccentric, happy warrior. “I meet with everybody, even people looking for small charity. If I have the time to take their call or to see them, I’ll do that.” Asked about unusual requests, he said with a laugh, “Well, money is money. So, I think the requests are all the same. They’re all looking for money.”
Readers' Comments (390)
dddsba Party: Green
Reply #1
Sep. 23, 2012 - 9:31 PM EST
- Reply
- Quote
-
gator68jd Party: Liberal
Reply #2
Sep. 23, 2012 - 9:31 PM EST
- Reply
- Quote
-
dddsba Party: Green
Reply #3
Sep. 23, 2012 - 9:31 PM EST
- Reply
- Quote
-
SallyC2 Party: NA
Reply #4
Sep. 23, 2012 - 9:36 PM EST
- Reply
- Quote
-
USAer Party: NA
Reply #5
Sep. 23, 2012 - 9:40 PM EST
- Reply
- Quote
-
not the last of shei... Party: Democrat
Reply #6
Sep. 23, 2012 - 9:43 PM EST
- Reply
- Quote
-
Homeguy Party: Independent
Reply #7
Sep. 23, 2012 - 9:46 PM EST
- Reply
- Quote
-
Askthechef Party: Republican
Reply #8
Sep. 23, 2012 - 9:47 PM EST
- Reply
- Quote
-
largebrneyes Party: NA
Reply #9
Sep. 23, 2012 - 9:50 PM EST
- Reply
- Quote
-
sbanicki Party: N/A
Reply #10
Sep. 23, 2012 - 9:50 PM EST
- Reply
- Quote
-
Which_Doctor Party: N/A
Reply #11
Sep. 23, 2012 - 9:51 PM EST
- Reply
- Quote
- Report Abuse
SallyC2 Party: NA
Reply #12
Sep. 23, 2012 - 9:51 PM EST
- Reply
- Quote
- Report Abuse
Old Dave Party: NA
Reply #13
Sep. 23, 2012 - 9:52 PM EST
- Reply
- Quote
-
gator68jd Party: Liberal
Reply #14
Sep. 23, 2012 - 9:53 PM EST
- Reply
- Quote
- Report Abuse
CaSierraFoothills Party: NA
Reply #15
Sep. 23, 2012 - 9:54 PM EST
- Reply
- Quote
- Report Abuse
JRichter7 Party: Independent
Reply #16
Sep. 23, 2012 - 9:55 PM EST
- Reply
- Quote
- Report Abuse
gator68jd Party: Liberal
Reply #17
Sep. 23, 2012 - 9:56 PM EST
- Reply
- Quote
- Report Abuse
carlo3b Party: NA
Reply #18
Sep. 23, 2012 - 9:59 PM EST
- Reply
- Quote
- Report Abuse
rigel Party: Democrat
Reply #19
Sep. 23, 2012 - 10:03 PM EST
I don't recall any criminal who said, "Hey, Feds, come and get me. I'm a crook!” This doesn't mean that Sheldon Adelson is a criminal, but it doesn't mean that he is not one either. As far as I'm concerned, the Justice Department under Obama has been far too reluctant to go after corruption on Wall Street and suspicious activities of people like Adelson. With his deep pockets, Adelson can easily afford to defend himself. Go for it Justice. While it is an outrage that Republican demean themselves by kissing Adelson's ring, unfortunately it is not shocking. Adelson's flat out legal bribery of Republicans and their being bribed is vulgar and disgusting. The Republican Party has become vulgar and disgusting! It has become the Party of anti-union, anti-teachers, anti-democracy, anti-charity, propaganda, and hate. Where are their Christian values? Where are Romney's Mormon values? - Reply
- Quote
- Report Abuse
drdarby Party: NA
Reply #20
Sep. 23, 2012 - 10:04 PM EST
- Reply
- Quote
- Report Abuse
Read all 390 comments in our forumHe doesn't look like a "million dollar baby!" A million dollar abortion maybe...
www.usatoday.com/news/politics/elections/poll-tracker-2
Link to latest national and swing state polls (Sept 23, 2012 9:30ET).
All that dough is really paying off, eh Shelly...I love the 1% - they smell good and will often spend-spend-spend.
Mitt's Pimp
He doesn't look like a "million dollar baby!" A million dollar abortion maybe...
www.usatoday.com/news/politics/elections/poll-tracker-2
Link to latest national and swing state polls (Sept 23, 2012 9:30ET).
All that dough is really paying off, eh Shelly...I love the 1% - they smell good and will often spend-spend-spend.
Old Sheldon needs to save his money-
Poll Shows Romney Losing Ground, Now Down By 8 Points; Wrong Track Voters At 52%
A new Zogby Poll of 860 likely voters nationwide, conducted online September 21 and 22, shows President Barack Obama opening up an 8 point lead over GOP challenger and former Massachusetts Governor Mitt Romney. Among likely voters, Obama now leads 49% to 41%; when leaners are factored in and minor party candidates are included, Obama’s lead widens to 9 points, 49%-40%, with 2% each voting for Libertarian Party candidate Gary Johnson and Green Party’s Dr. Jill Stein, and 1% for Constitution Party Virgil Goode.
The poll has a margin of sampling error of +/-3.4 percentage points.
Obama has a 14 point lead among independents (46% to 32%), 33 points among moderates (60% to 27%), 36 points among 18-29 year olds (65%-29%), 11 points among 30-49 year olds (48% to 37%), and is down among 50-64 year olds by only 2 points (45%-47%) and 3 points among voters over 65 (44%-47%). The President maintains his huge leads among Hispanics (68% to 26%) and African American voters (93%-0%).
Romney’s lead is only 50% to 39% among white voters and 48% to 40% among evangelicals.
Federal investigations swirling around Adelson’s casino empire, including probes into possible violations of the Foreign Corrupt Practices Act and money laundering. Adelson denies any wrongdoing. But those investigations also raise troubling questions as to why Romney would allow Adelson to cozy up to him and what the Las Vegas casino magnate wants in return for his outd donations.
nixon must be spinning in his grave, for obama has outwitted him in lack of transparency, enemies list, cronyism, justice dept corruption
Mike Allen, This is too funny! How many stories did you run about Soros corrupting the election process with that 24 million spent in the last presidential election. You liberals are so entertaining!
Put all of the money Ceasars and the SIEU (Casino Employees) has spent getting Reid re elected and donation toe the Democrats and I can see his point in wanting to beat him badly.
What's on Adelson's mind? Hmmm, how about Obama's commnt that Isreal's problem's with Iran is "just noise" for starters.
Or maybe e doesn't like watching America side down the drain. Or maybehe doesn't like socialism. Who knows?
How can Mitt Romney be the protector of free markets and small business when he will be indebted to the cronies who are destroying free markets?
On July 19, 2012 the Financial Times reported Paul Ryan saying,
"Both political parties have fallen victim to “partnership” with large and well-connected companies, especially in energy, housing, finance and healthcare. Republicans have been guilty of confusing our pro-market principles with pro-entrenched business policies.... A growing coalition of reformers ... reject this pernicious crony capitalism. Our solutions promote an opportunity society, one that is rooted in the US commitment to free enterprise."
Based on the source of their campaign funds, how is the Republican ticket going to say no to those filling their coffers? More
In just a few short months the new administration will give orders to "take down", at all costs, all bundlers and contributors to the democratic party (or socialist, or marxist, or retards, or liberal - whatever they go by...). Since the precedence has been set by the failed and worst president in American history, the looney left will have to suffer. Much like the endless suffering that they have created with their ideology.
Romney's campaign is so dead..the Mormons have baptized it.
But they will never go after George Soros will they? Not to mention any number of "shadowy characters" behind the Democrat scenes we never hear of.
Which_Doctor. Take your meds
This is the nightmare the rightwingers on the Supreme Court have brought down on us via "Citizens United"; an entire political party, and perhaps frighteningly, a presidential election bought and paid for by foreign gambling money. Are you Republicans proud of your sycophants Romney, Rove, Boehner, Cantor, et al sucking up to this vile person? Are you proud your party has been sold to asian gambling money? Is this what you mean by Democracy?
$1b is nothing if you get a tax cut of 20% on $24b. You make that back in two years. This is about an individual buying a tax cut and other benefits plain and simple. One such benefit may be to commit us to another war that will cost us trillions and lives.
This is a bad bargain for the country and I am confident the founders would have never intended this to be the way we elect our Presidents.
Oh I should have realized after a couple of the comments that this was linked to the Sludge Report. Now 300 rats will come crawling out of the wood work.
Ironic that this Democrat waited until the end to mention Soros, by far the largest donor in history before this election cycle.. Suddenly it's a problem.. All of this hand wringing and pearl clutching.. Don't worry, he always wins, and Soros will have wasted only a few of the millions he's received form the Obama stimulus .. You gotta love it!
www.facebook.com/richard.allbritton
Aldelson is no different from George Soros but at least Addelson is American rather than a forigner trying to influence US policy. Funny how the Dems take a page from Nixon using illegal tactics to quash decent in anyway. The DNC is like North Korea or Russia, using racism, half truths, and outright lies to spank anyone who does not toe the party line. They would have political prisons if they acted on what is in their hearts.
You must be logged in to comment
Not yet a member?
Register Now