The campaign to re-elect President Barack Obama shows its fear of prodigious Republican donor Sheldon Adelson in a new fundraising appeal to its grassroots supporters.
News reports revealed last week that the hotel/casino mogul Adelson has made another $35 million of commitments to Republican causes, including ones supporting GOP presidential nominee-to-be Mitt Romney.
That would put Adelson’s donations to about $71 million for this campaign cycle. Forbes magazine pegs Adelson as the seventh-wealthiest American, with a net worth of $24.9 billion. He has suggested he will dole out $100 million to Republicans before the election is said and done.
As for the Obama mailer, which seeks donations as small as $3, it reads, “You need to know this name: Sheldon Adelson. He's on a personal crusade to defeat Barack Obama, and he's pledged ‘limitless’ donations from his multi-billion-dollar foreign casino fortune to do it,” Politico
The mailer notes that Adelson reportedly has started his latest round of donations with a $10 million commitment to Romney's super PAC Restore Our Future. “It would take more than 182,000 people like you giving our average of about $55 just to match that amount.”
Not many people tell Adelson “no,” the cash appeal says. “So I hope you'll enjoy being one of the first. Donate $3 or more to beat Sheldon Adelson and his friends, and help build this grassroots campaign.”
What may be most interesting about Adelson’s donations is what a small portion of his net worth they represent. If he indeed shells out $100 million, that would represent 0.4 percent of his fortune. It would be equivalent to someone worth $100,000 donating $400.
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