January 9, 2012
Adelson gives $5 million to Super PAC supporting Gingrich
Casino and hotel magnate Sheldon Adelson donated $5 million to a group supporting Newt Gingrich for the Republican presidential nomination.
The Washington Post reported over the weekend that Adelson gave the money on Jan. 6 to Winning Our Future, an independent committee, or Super PAC, run by former Gingrich associates.
An unnamed source close to Adelson, a longtime Republican donor, told the newspaper that the billionaire planned to spend another $5 million during the campaign.
The first $5 million check is meant to keep Gingrich competitive in the Jan. 21 primary in South Carolina, according to the newspaper.
Adelson and his wife have given the maximum $2,500 to Gingrich’s campaign.
Super PACs can raise unlimited sums from corporations, unions and other groups, as well as individuals, and indirectly support a political candidate.
Adelson, chairman and CEO of the Las Vegas Sands Corp., is worth more than $21 billion, according to Forbes magazine. He is a major giver to Birthright Israel, which provides free 10-day trips to Israel for Jews aged 18 to 26.