Sheldon Adelson’s Bad Bet When Trump Loses

1
342

 

Sheldon Adelson, age 87, is a professional gambler, or, at least, he has made his billions from gambling.  It’s a business where the money is loose, and there are always more people coming through the doors to play the odds. 

This may explain Adelson’s attraction to placing money on political candidates who he thinks can win, and if they don’t….well, it won’t affect his net worth anyway.

Adelson is the largest individual contributor to Trump and a big contributor to Republicans.  Adelson is considered one of the greatest offenders in American politics because he uses his money to advance his personal agenda. He is a long-time Republican supporter and a close friend of Newt Gingrich, a disruptive and underhanded politician who championed shutting down the federal government.

Worse, the scandal of money in politics is so widespread that it has contaminated this democracy.

It does’ matter if Trump is a tax cheat and adulterer.  Adelson still finds him and his right-wing policies attractive enough to write him hundreds of millions in checks.

Money for Nothing? 

As for Trump’s connections to white supremacists and other fringe groups who are antiSemitic, well, that doesn’t seem to matter.  Sheldon keeps writing checks anyway.

Here is how much Adelson has spent on Trump and Republican candidates and their elitist agendas, according to some excellent reporting in The Guardian:

  • $250 million to back Trump, Republican Senate, and House members and conservative causes;
  • $50 million to a Super Pac, the Senate Leadership Fund, that’s run by friends of Mitch McConnell. So far, this PAC has raised over$308 million to keep the Senate in Republican hands;
  • Adelson is a huge contributor to the Republican Jewish Coalition that has spent a record $10 million, some of it on inane TV ads to support Trump;
  • $40 million to the Congressional Leadership Fund, a Super Pac that backs House GOP candidates.

All this tallies up to over $340 million from Adelson to prop up the right-wing Republican Party of 2020.

To many political experts, the Republican Party of 2020 has many of the ultra-right John Birch Society political beliefs, including critical elements of its platform that are anti-government, QAnon-like conspiratorial, and anti-Semitic.  But apparently, none of this bothers Adelson.

Is Sheldon a Bad Bettor?

But the big question is: How smart of a gambler is Adelson?

What does he get if Trump loses?

The political donor who contributes to losing candidates loses political access.

It’s doubtful any Democrat would have anything to do with Adelson and the policies he supports, especially his personal estate tax benefits as a result of carried interest loopholeand corporate tax breaks.

With that, Adelson can focus on a few of his charitable donations that actually benefit people, not special the interests he has focused on in the past.

 

 

 

 

 

 

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here