Sheldon Adelson’s Bad Bets
A nod from the mega-donor doesn't often translate to victory at the polls.
Sheldon Adelson in 2014.
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As Ted Cruz, Rick Perry and Jeb Bush’s big brother, former President George W. Bush, head to Las Vegas this weekend for the latest episode in GOP presidential hopefuls’ long-running courtship of Sheldon Adelson, it’s worth remembering that the Republican mega-donor has proven no better at picking winners than guests at his many casinos.
Exactly half of the 36 candidates the 81-year-old Adelson and his wife, Miriam, supported during 2012 and 2014—either through direct contributions or donations to super-PACs dedicated to individual candidates—lost their races, data from the Federal Election Commission show. Those bad bets accounted for a stunning 99 percent of the $60.1 million the couple spent this way.