VIDEO – Las Vegas casino mogul, Sheldon Adelson, has donated $10 million to Mitt Romney’s Super PAC, Restore Our Future.
After single-handedly rescuing Newt Gingrich’s campaign through the funding of his Super PAC, Winning Our Future, Sheldon Adelson has now switched donations to the other Republican presidential campaign Super PAC with “Our Future” in its name. In a report by Forbes, a source close to Adelson with direct knowledge of the casino billionaire’s thinking says that further donations to Restore Our Future will be “limitless.”
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Sheldon Adelson is the best example of how one billionaire can influence the outcome of an election by funding millions of dollars worth of negative ads targeted at low-information voters in swing states. If negative ads did not work, these billionaires would not waste their money funding them. The fact is, negative ads on TV reach the disengaged swing voters that can tip the balance of an election. And thanks to the 2010 Citizens United decision by the Supreme Court, a billionaire such as Sheldon Adelson can now spend unlimited money to fund Super PACs. The same article by Forbes calculated that the $10 million donation by Adelson is basically “pocket change” to him – equivalent to $40 for an American family with a net worth of $100,000.