Casino mogul Sheldon Adelson has donated $10 million to the Koch brothersâ€™ efforts to elect Republicans and oust President Obama and other Democrats — forging perhaps the most powerful, well-financed political fundraising machine of 2012.
Adelson donated the money last weekend during a Koch brothersâ€™ fundraising summit in suburban San Diego. The private deal was confirmed Friday, according to the Associated Press and other news agencies.
Adelson has already contributed $10 million to Restore Our Future, which is the super political action committee that backs GOP presidential candidate Mitt Romney, and $5 million each to two organizations promoting House Republicans.
During the GOP presidential primary, Adelson, chief executive officer of the Las Vegas Sands, and family members gave $21 million to a super PAC promoting former House Speaker Newt Gingrich.
Charles and David Koch are billionaire oil executives and libertarians who founded the small-government, anti-tax group Americans for Prosperity.
Among the others who contributed at the summit was personal-investment tycoon Charles Schwab, who committed to a seven-figure donation. Also at the summit, the brothers announced a new candidate training academy, Grassroots Institute, according to POLITICO.
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