Politico: Adelson Promises $10 Million for Koch Brothers Causes

Friday, 29 Jun 2012 11:23 AM

By Newsmax Wires

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Casino and hotel magnate Sheldon Adelson, perhaps the most generous donor to Republican candidates and causes this year, has just pledged $10 million to the Koch brothers for their efforts on behalf of Republican candidates this year, knowledgeable sources told Politico.

The promise came from Adelson aide Andy Abboud at David and Charles Koch’s donor summit early this week outside San Diego and was the largest of the confab. Investment mogul Charles Schwab offered up a seven-figure contribution of his own at the gathering.

Adelson, whose net worth is put at $25 billion by Forbes magazine, has made a host of political contributions this year, and other family members have joined in some of them.

The family combined to give more than $20 million to the super PAC supporting presidential candidate Newt Gingrich, almost single-handedly keeping his campaign afloat. Adelson also contributed $5 million to a super PAC affiliated with House Speaker John Boehner.

He has promised $10 million to the pro-Romney super PAC and $20 million to Crossroads Grassroots Policy Strategies and $5 million to one associated with House Majority Leader Eric Cantor, reports say.

Adelson also reportedly plans to donate $10 million to a non-profit group linked to the Kochs, in a contribution apparently separate from the latest commitment of support to the Kochs.

For those of you without a calculator, that adds up to a stunning $80 million. But the seventh wealthiest American by Forbes’ calculation may not be finished. He has said he may spend more than $100 million to help bring down President Barack Obama.

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