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  • 8
    Nov
    2012
    4:50am, EST

    Money can't buy happiness, or an election

    Casino magnate Sheldon Adelson poured $53 million into the 2012 elections via controversial super PACs to back these candidates. All lost. From left to right, Mitt Romney, Connie Mack, George Allen, Allen West, Joe Kyrillos, Rabbi Shmuley Boteach, David Dewhurst and Newt Gingrich. West is demanding a recount, however, claiming 'disturbing irregularities at the polls.'

    By Rachael Marcus and John Dunbar, The Center for Public Integrity

    Money can't buy happiness, nor can it buy an election, apparently.

    The top donors to super PACs in 2012 did not fare well — casino magnate Sheldon Adelson, the No. 1 super PAC contributor with more than $53 million in giving, backed eight losers at this writing.

    Adelson was top backer of the pro-Mitt Romney Restore Our Future super PAC, with $20 million in donations. Romney lost to President Barack Obama. In addition, Adelson's contributions to super PACs backing U.S. Senate candidates in Florida, Virginia and New Jersey were also for naught.

    He was not the only conservative billionaire who had a bad night.


    Contran Corp. CEO Harold Simmons, (No. 2), homebuilder Bob Perry (No. 3) and TD Ameritrade founder Joe Ricketts, (No.4), also bet on Romney. Collectively, the trio gave $13.4 million to Restore Our Future, and Ricketts' super PAC, Ending Spending Action Fund, spent an additional $9.9 million helping Romney's failed bid.

    AP

    Fred Eychaner, founder of Chicago-based alternative-newspaper publisher Newsweb Corp., was the only one of the top five donors to super PACs to back a winner -- President Barack Obama.

    The super donor winner of the night was Newsweb Corp. CEO Fred Eychaner (No. 5). Eychaner gave $3.5 million to pro-Obama super PAC Priorities USA Action through the most recent filing period, which ended Oct. 17, according to Federal Election Commission records.

    Decision 2012 on NBCNews.com: Senate election results

    Decision 2012 on NBCNews.com: House election results

    In Florida, Republican Rep. Connie Mack lost his challenge to the popular Democratic Sen. Bill Nelson, who won with 55 percent of the vote. Adelson gave $2 million to the pro-Mack super PAC Freedom PAC, and Simmons and Perry gave a combined $255,000 to the group.

    The hotly contested Senate race in Virginia attracted $2.5 million from Adelson and Perry, both giving to Independence Virginia, the super PAC supporting former Republican Sen. George Allen. His opponent, Democratic Gov. Tim Kaine, won the seat with 52 percent of the vote.

    Campaign spending by super PACs in this election cycle topped $1 billion – nearly four times the amount spent by such groups in 2008. Looking back now, how much impact did that money have on the race? Former White House Deputy Press Secretary Bill Burton and former RNC Chairman Michael Steele discuss.

    Adelson also invested in the re-election of Rep. Allen West, R-Fla., in Florida's 18th District, who narrowly lost to Democratic newcomer Patrick Murphy. On Wednesday, however, West's campaign called for a recount, citing "disturbing irregularities reported at polls."

    See which industries funneled the most money into presidential race

    The casino billionaire's $1 million to Patriot Prosperity, a New Jersey-specific super PAC supporting the Republican candidate for U.S. Senate, Joe Kyrillos, and the Republican candidate for U.S. House in the state's 9th District, Rabbi Shmuley Boteach, did not pay off.

    Shawn Thew / EPA

    Sheldon Adelson, chairman and CEO of the Las Vegas Sands Corp., pumped $53 million into the election, but apparently backed only one minor winner by helping defeat a Michigan ballot initiative.

    During the primary season, Adelson's $16.5 million in contributions to the super PAC Winning Our Future was not enough guide former House Majority Leader Newt Gingrich to a Republican presidential nomination, though it is credited with keeping him in the race longer than expected. Nor were Adelson's contributions enough to help Texas Lt. Gov. David Dewhurst win the GOP primary for Texas Senate earlier this year, a cause to which gave at least a quarter-million dollars.

    Karl Rove's election nightmare: Super PAC's spending was nearly for naught

    Adelson did score one point with his $2 million contribution that helped sink a Michigan ballot initiative seeking to enshrine collective bargaining in the state's Constitution. Adelson runs the only non-union casinos on the Las Vegas Strip.

     Win-Loss Rundown:

    (Giving to candidate-specific super PACs in the federal election)

    Sheldon Adelson, Republican, $53.7 million*

    • Mitt Romney — loss
    • Connie Mack (Florida Senate) — loss
    • George Allen (Virginia Senate) — loss
    • Allen West (House, Florida’s 18th) — too close to call, but leaning toward loss
    • Joe Kyrillos (New Jersey Senate) — loss
    • Shmuley Boteach (House, New Jersey’s 9th) — loss
    • Newt Gingrich (GOP presidential primary) — loss
    • David Dewhurst (GOP primary, Texas Senate) — loss

    © Flor Cordero / Reuters

    Billionaire Harold Simmons was the second-biggest donor to super PACs in the presidential race, with $26.9 million in contributions.

    Harold Simmons, Republican, $26.9 million*

    • Mitt Romney — loss
    • Connie Mack (Florida Senate) — loss
    • Rick Santorum (GOP presidential primary) — loss
    • Newt Gingrich (GOP presidential primary) — loss
    • Rick Perry (GOP presidential primary) — loss
    • David Dewhurst (GOP primary, Texas Senate) — loss
    • Orrin Hatch (GOP primary, Utah Senate) — win

    Bob Perry, Republican, $21.5 million*

    • Mitt Romney — loss
    • George Allen (Virginia Senate) — loss
    • Connie Mack (Florida Senate) — loss
    • Rick Perry (GOP presidential primary) — loss
    • David Dewhurst (GOP primary, Texas Senate) — loss

    Joe Ricketts, Republican, $12.9 million*

    • Mitt Romney — loss

    Fred Eychaner, Democrat, $12 million*

    • Barack Obama — win

    Tuesday marked the first presidential election under the new campaign finance regime installed following the 2010 Citizens United U.S. Supreme Court decision. The ruling paved the way for super PACs and nonprofits, allowing them to accept unlimited contributions from individuals, corporations and unions, which could be spent on advertising backing or opposing candidates.

    Full election coverage on NBC Politics

    *As of Oct. 17, 2012 for the 2011-2012 election cycle. Source: Center for Responsive Politics and Center for Public Integrity analysis of Federal Election Commission records. Totals include contributions from individuals, family members and corporations that are controlled by the individual super donor.

    The Center for Public Integrity is a non-profit independent investigative news outlet. For more of its stories visit publicintegrity.org.

    More from Open Channel:

  • See which industries funneled the most money into presidential race
  • Pulpit politics: Pastors endorse candidates, thumb noses at IRS
  • Election's enigmatic biggest corporate donor has contributed $5.3 million
  • Delphi retirees say Obama administration betrayed them
  • Wind, flames, Our Fathers: the inside story of Breezy Point's terrible night
  • Ex-Penn State President Graham Spanier charged in child sex abuse scandal
  • Behind closed doors: GOP and Dems alike cloaked redistricting in secrecy
  • Wisconsin objects to Romney training manual urging incognito poll watchers
  •  

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    932 comments

    No, money can't buy an election.

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    Explore related topics: election, donor, contributions, featured, super-pacs, decision-2012
  • 20
    Mar
    2012
    6:55pm, EDT

    Builder who helped air 'Swift Boat' ads gives $3 million to pro-Romney super PAC

    bobperry.us

    Texas homebuilder Bob Perry, who helped fund the "Swift Boat" ads targeting Sen. John Kerry in 2004, has joined an elite club of GOP fundraisers by giving $3 million to a pro-Mitt Romney super PAC.

    By Michael Isikoff
    NBC News national investigative correspondent

    A reclusive Texas homebuilder who helped finance the “Swift Boat Veterans” attacks against Democratic presidential candidate John Kerry in 2004 contributed nearly half of the $6.4 million raised by a super PAC backing Mitt Romney last month. 

    Bob Perry, owner of the Houston-area custom homebuilder Perry Homes and a longtime backer of conservative causes, gave $3 million last month to the pro-Romney super PAC Restore Our Future, according to a report filed Tuesday with the Federal Election Commission. 

    Perry has been a prolific donor to Republican candidates and causes this election cycle, having previously given $1 million to the same pro-Romney super PAC, as well as $100,000 to a super PAC that backed Texas Gov. Rick Perry and $2.5 million to American Crossroads, the Republican super PAC founded by Karl Rove.

    Perry’s support is  the latest example of how a small group of extremely wealthy donors are accounting for the bulk of the financing in this year's Republican presidential contest.


    Perry, who helped fund the Swift Boat attacks against Massachusetts Sen. Kerry in 2004, which sought to discredit his military record and subsequent antiwar activities, almost never gives interviews or attends political fundraisers. But with his new seven-figure check, he has become part of an elite club of mega donors, along with Las Vegas casino magnate Sheldon Adelson, who’s helped bankroll a pro-Newt Gingrich super PAC; and Wyoming financier Foster Friess, a top supporter of the pro-Rick Santorum Red, White and Blue Fund. Those men, along with Texas billionaire Harold Simmons, are effectively helping to bankroll the barrage of attack ads that have been flooding the airwaves in the GOP primary states.

     

    Restore Our Future -- the biggest of  the presidential super PACs -- has spent $35 million in this year's primary battle, almost all of it on negative ads slamming Romney's opponents. (The group reported it had $10.5 million in cash still on hand as of the end of February.) 

    Other notable donations to the group last month include $500,000 checks from two other veteran GOP donors-- David Humphrey, CEO of TAMKO Building Products in Joplin, Mo., and Jerry Perenchio, a former Hollywood talent agent and former CEO of Univision -- as well as $100,000 from Simmons, a leveraged buyout kingpin who has already given $10 million to GOP super PACs this year, including groups backing Gingrich and Perry.

    All told, Restore Our Future collected 15 checks of $100,000 or more last month and at least 31 out of its total of 100 donors came from financial institutions, including big hedge funds and private equity firms that have been the biggest single source of its funds. These included $100,000 from Henry Kravis, the co-CEO and chair of Kohlberg, Kravis Roberts (another $50,000 was contributed by KKR partner Marc Lipshultz); and  $100,000 from Ken Griffin, the founder and CEO of Chicago based Citadel hedge fund. Griffin recently told the Chicago Tribune he is "terrified" the country is headed in the wrong direction, and complaining that the financial markets have become a "hyper-regulated industry" that is "punishing savers." As for criticism that big donors like him are tilting the political process, Griffin said: "I think (the ultra-wealthy) actually have an insufficient influence. Those who have enjoyed the benefits of our system more than ever now owe a duty to protect the system that has created the greatest nation on this planet."

    Restore Our Future’s FEC report shows the group, created and controlled by Romney allies and former Romney aides, spent $11.6 million in February on TV and Internet ads, the vast majority of them attacking Santorum and Gingrich, and on direct mail and phone outreach to voters.

    In total, the group spent $12.2 million for the month, in which seven nominating contests were held, including an expensive, tightly fought battle in Michigan. According to the FEC report, Restore Our Future ended the month with more than $10 million remaining on hand.

    NBC News’ Garrett Haake contributed to this report.

    899 comments

    Perry has been a prolific donor to Republican candidates

    Show more
    Explore related topics: fundraising, donor, romney, featured, bob-perry, super-pac, restore-our-future

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