Campaign watch: Tracking the super-weathly donors

Sheldon Adelson, chief executive of Las Vegas Sands Corporation, is just one of the wealthy donors in the 2012 election. Photo by Wikimedia Common's user Bectrigger

When one thinks of who wields behind-the-scenes power during a political campaign, it would be easy to pick out an influential party leader, pollster, fund-raiser or strategist.

Not this year.  One of the most important people in Campaign 2012 may well be a casino magnate, Sheldon Adelson, who has vowed to spend up to $100 million of his $25 billion fortune to defeat President Barack Obama and make sure that Republicans get elected from the top of the ticket to the bottom.

For reporters covering the Presidential and other races this year, one line of reporting is not just focusing on the candidates themselves but on a new crop of super-wealthy donors who are playing an increasingly important in the wake of the Citizens United decision that has opened the floodgates to a flow of  unlimited money into the campaigns. All across the country, super donors are being identified and written about.

Heading the list is Adelson, chief executive of Las Vegas Sands Corporation, which gets the bulk of its earnings from casino operations in Singapore and Macao. With more money than most people can dream of and a burning desire to oust Democrats, Adelson is turning into one of the hidden – or increasingly not-so-hidden – power brokers of this campaign.  Adelson is best-known for his pro-Israel policies, from a vantage point to the right of the conservative lobbying group American Israel Public Affairs Committee, and is supporting candidates who share his views on that topic and on conservative issues in general.

Already, Adelson has spent $20 million to prop up the Presidential hopes of Newt Gingrich in the Republican primary. His money went to a Gingrich super-pac that aired a series of attack ads on Mitt Romney in the Iowa caucuses than many say lead to Romney’s second-place showing. While no fan of Romney, Adelson has turned his attention to the Romney campaign and to making sure that money flows from his checkbook to the pro-Romney super-pac, Restore Our Future, and other conservative campaign committees.  Mr. Romney and his top aides have also met with Adelson at his Las Vegas office to discuss Adeleson’s political views.

In prior years, Adelson might not have had the opportunity to hold such sway.  But the 2010 Citizens United decision now allows issue groups to spend unlimited amounts advocating the support or defeat of candidates. That, in turn, gave rise to super-pacs and the ability of Adelson and others like him to play a bigger role than ever.

Stop by OpenSecrets.org to learn more details about outside spending in the 2012 election.

Adelson’s political spending has reached $60 million on is growing. This includes the $20 million on Gingrich, $10 million to the  pro-Romney super-pac and another $10 million to one headed by Republican operative Karl Rove, along with $10 million to an effort headed by the conservative Koch brothers and another $10 million on a super-pac focusing on Republican Congressional candidates.

Adelson may be the biggest, but he is just one of the many sugar daddies who are worth watching this year.  It turns out that nine of the top ten individual donors are wealthy individuals supporting Republican candidates: businessmen from Texas, hedge fund managers on Wall Street, and energy company executives.

Statistics kept by Open Secrets.org, a nonprofit that tracks money in politics, show that the only Democrat ranked in the top 10 of super donors is Jeffrey Katzenberg, the Hollywood mogul and head of Dreamworks, who gave $2 million to the pro-Obama super-pac Priorities USA Action.   So far,  the pro-Romney super-pac  has raised $61 million, compared to $14 million raised by the pro-Obama super pac.

There are many reasons for this imbalance between Democratic and Republican super donors. On the most basic level, there have been strong historical ties between wealthy individuals and the Republican party.  Even more, Democrats, including President Obama, had earlier denounced the growth of these super-pacs.  Many wealthy Democrats see super-pacs as an unwelcome additional to the political scene and are steering clear.  That’s hardly the case with Adelson, and a wealthy crew of like-minded super donors with plenty of money to spend.