Sheldon Adelson Donates $10 Million to Romney Campaign
Political polls may have Mitt Romney and Barack Obama running neck-and-neck, but at least one high-roller feels the Republican candidate is worth making a bet on – a big bet. Casino mogul Sheldon Adelson just donated $10 million to a Mitt Romney super PAC to help the conservative candidate win the November election, the Washington Post reports. The $10 million donation to the Restore Our Future super PAC is the largest single donation made to the Romney election fund.
Adelson is not a shy about sharing his wealth with political candidates he feels should be elected to office. During the early months of the 2012 presidential primary Adelson donated $20 million to a super PAC which supported candidate Newt Gingrich. Even though the first big money donation was to Romney’s competitor, Adelson was “comfortable” with a Romney win as well, notes the Wall Street Journal.
While the casino billionaire may be considered part of the “1 percent” now, he has very humble roots. Adelson was a college dropout raised in a poor Boston neighborhood by immigrant parents before becoming the eighth-richest man in the world. The entrepreneur used funds he earned in the computer industry to restore the Sands Casino and then helped create a major convention area on the Las Vegas strip. Adelson also donates large sums to causes in Israel, medical research as well as a host of other charities.
President Barack Obama has held more than 160 fundraisers and will participate in a $40,000 per plate event at the Plaza Hotel in New York later this week.