Magnate gives $5 million to Gingrich super PAC
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Casino and hotel magnate Sheldon Adelson donated $5 million to a group supporting Newt Gingrich for the Republican presidential nomination.
The Washington Post reported 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 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 trips to Israel for Jews ages 18 to 26. — jta
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01/16/2012 at 04:41 PM
It looks like Mr. Adelson has bet on a loser. Mr. Gingrich is expected to come in no better than fourth in the South Carolina primary. In the meantime, the Republic is gradually being eviscerated in a barrage of 30 second soundbites. The political class seems incapable of dealing with the deficit and the grim economic future facing many of the nation’s young people. For all the money that has been spent on Holocaust museums and memorials, we seem to have learned nothing from Germany’s Weimar years.
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