Adelson to Give Koch Brothers $10 Million
Sheldon Adelson, the casino mogul, is reportedly making another substantial campaign contribution that is aimed at removing President Obama from the White House and electing Republicans. Adelson is one of the richest men in the world and is reportedly donating $10 million to David and Charles Koch, two billionaire brothers. A source close to Adelson said the $10 million pledge was confirmed on Friday, but the person requested to remain anonymous.
Prior to this donation, Adelson donated $10 million to a super PAC group that is backing the presumptive presidential candidate from the Republican Party, Mitt Romney. He also donated $5 million each to two groups promoting the election of House Republicans.
During the presidential primary for the GOP, Adelson and family members donated $21 million to one super PAC that was promoting Newt Gingrich the former Speaker of the House.
The Koch brothers have been nationally recognized for their support of conservative candidates and causes. The Koch brothers’ business Koch Industries has over 60,000 employees across the globe and annual revenues that exceed $110 billion. Their businesses include interests in fertilizer, chemicals, oil refineries, pollution-control equipment and paper.
In 2010, the Citizens United ruling by the U.S. Supreme Court and other rulings ended the restrictions on corporate political contributions, as well as those from millionaires, billionaires and labor unions.
The people in charge of President Obama’s campaign said he could become the first sitting president to be outspent by an opponent and the supporters of his opponent.