Saturday, January 28, 2012

US election 2012: Sheldon Adelson, the man keeping Newt Gingrich's bid afloat

Editor's Note: Here's ten million reasons Newt is still in the campaign....

If Newt Gingrich were to win the Republican nomination he would owe around ten million favours to Sheldon Adelson – one for each of the dollars the flamboyant billionaire has pumped into his presidential bid.


Sheldon Adelson

January 28, 2012
Mr Adelson, America's eighth-richest man, is responsible for almost single-handedly keeping the Gingrich campaign alive with what is thought to be the biggest donation in US political history.
The $10 million he has given so far to Winning Our Future – a pro-Gingrich Super-Pac – propelled the former Speaker to victory in South Carolina.
What the 78-year-old Mr Adelson wants in return is unclear. His casino empire already stretches from Las Vegas to Macao, generating a fortune estimated at $20 billion.
Like his candidate, Mr Adleson is a hawkish advocate of Israel. In 2007, the self-proclaimed "richest Jew in the world" founded Israel HaYom, a free right-wing newspaper that now has the largest circulation in Israel. The two men are thought to have met in the 1990s and bonded during Israel-related discussions.
But unlike the presidential hopeful, Mr Adelson says he is a "social liberal", and has not used his vast wealth or political influence to oppose gay marriage, abortion or other issues important to the Republican party's conservative wing.

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