Gingrich backer willing to give $100M to benefit former House speaker

Sheldon Adelson

/ Getty Images

UPDATED 11:07 a.m. ET

The billionaire casino magnate backing Newt Gingrich said he is prepared to give $100 million to help the former House speaker in his quest for the White House if he decides it is necessary.

Sheldon Adelson, who has already given $11 million to the outside group backing Gingrich and is expected to give another $10 million in the coming days, told Forbes magazine he is prepared to spend five times that amount.

Adelson told the business magazine that those who criticize him for propping up Gingrich "like to trash other people."

"It's unfair that I've been treated unfair--but it doesn't stop me. I might give $10 million or $100 million to Gingrich," Adelson said. It was not clear when the comments were made.

The owner of the Venetian casino and resort said he does not like the way wealthy individuals are able to influence elections but he will continue to do it as long as he can.

Forbes estimated Adelson's net worth at $25 billion, making the $11 million already given to "Winning our Future" a mere 0.044 percent of his fortune. The Huffington Post has calculated Adelson makes about $3.3 million per hour.

"I'm against very wealthy people attempting to or influencing elections," Adelson said.

"But as long as it's doable I'm going to do it. Because I know that guys like (investor George) Soros have been doing it for years, if not decades. And they stay below the radar by creating a network of corporations to funnel their money. I have my own philosophy and I'm not ashamed of it. I gave the money because there is no other legal way to do it. I don't want to go through ten different corporations to hide my name. I'm proud of what I do and I'm not looking to escape recognition," he added.

The super PAC, "Winning our Future," bombarded the airwaves in South Carolina last month ahead of the primary there, and is largely credited with helping Gingrich win in the Palmetto state.

Adelson has previously indicated his support for Gingrich is based on their shared commitment to Israel. But the billionaire has indicated in the past that despite his ongoing support for Gingrich, he will maintain a commitment to whoever becomes the Republican nominee.

The publication asked the billionaire if he would support Rep. Ron Paul should the Texas lawmaker become the GOP nominee.

"If Ron Paul is chosen I certainly wouldn't do that," he said, prompting the editor to ask about former Massachusetts Gov. Mitt Romney.

"I don't want to say. Newspapers said I had two meetings with Romney and Gingrich (on Feb. 3), which is untrue. Most of what is being said about me in this current brouhaha is just not true. I know Romney; I like him. I know (former Pennsylvania Sen. Rick) Santorum; I like him. ... The likelihood is that I'm going to be supportive of whoever the candidate is. I just haven't decided that yet and will wait to see what happens," Adelson said.

[skitbit]

yet republicans clutch their pearls over George Soros - the hypocrisy is stunning

[javila2]

Who says money can't buy you happiness???
Dosen't make you want you to go out vote for this guy?

[venusvegasvada]

Well, I guess that only goes to show just how freaking stupid the Rich are in this country. (and how afraid they are of losing their tax perks and all the other free ride @#$# they have).

If you take a POS and give it a 100 million dollar paint job, guess what you have? A really great looking POS, but still a POS.

Good luck with that Adelson.

[occupy_cbs]

If we can't get our corrupt congresscritters to get rid of the ridiculous 'Citizens United' EVIL, by passing sane campaign finance reform, we are completely doomed as a country!


MONEY + POLITICS = PURE EVIL

[occupy_cbs]

"Gingrich backer willing to give $100M to benefit former House speaker"



What an outright hypocrite, saying "he does not like the way wealthy individuals are able to influence elections but he will continue to do it as long as he can."


Unfortunately, scuum like him should be deported!

[skeezix06]

I can respect the fact that people have the right to spend their money how and on whatever they want to spend it on. But at the same time I look at the $100,000,000 he says he's willing to spend on Gingrich (or any other political candidate for that matter) and I think about the fact that nearly 1/4 of the children in this country go to bed either hungry or not knowing where their next meal is going to come from. I can't help but think that $100,000,000 could be better spent feeding hungry children. The money flooding political campaigns has become obscene. Its nothing more than an attempt to buy power. In the past we would have called it corruption. Shame on them. Shame on the Supreme Court. And shame on us all for allowing it.

[Michael12540]

What is wrong with this Country and why are those who pick on the rich? Your above statement sir is so so correct!

[jrjjack]

Doesn't matter who gives Gingrich what. The man can give him Las Vegas, his casino, his house, his cars, his ranches, his children.....NO ONE has enough money to convince the public to put Gingrich in the White House! We may be crazy but we are NOT that crazy........

[esq777]

Note to self: never visit The Venetian or any other Adelson property, ever. The irony is that what he's doing here is what most people do in his casions -- throwing money away. Of course, being in the Willard 'mitt' Romney tax bracket, he has lots of money to burn.

[BWB2020]

It's all good, the GOP is toast, and this nut will be out of a lot of money. Gingrich will use his money for some extra "sompn-sompn-on-the-side" besides his current wife, and when Romney gets the final bid, will lose and spend his cut on some new magic underwear.
If Santorum (noun) gets the nod, he will use it to buy his private boyfriend's silence.

At any rate, it is money that will be wasted anyway.

[erpicferl]

so sad this guy is throwing so much money away on an obvious loser. he could give raises to all his employees at the venetian who are barely making ends meet instead, but hey i work for a jew too and try asking a jew for a raise.