Billionaire Gives $5.5M to Gingrich Super-PAC

by InvestorPlace Staff | March 21, 2012 6:26 pm

investorpoliticsletters2 Billionaire Gives $5.5M to Gingrich Super PAC[1]Fresh off a distant fourth place finish in yesterday’s Illinois GOP primary[2] and stinging second place finishes in Mississippi and Alabama[3] last week, Newt Gingrich’s campaign seems to be on its last legs.

That hasn’t stopped his biggest Super-PAC donor from giving heavily to his cause.

According to Federal Election Commission documents filed Tuesday, casino owner and billionaire Sheldon Adelson gave $5.5 million to the Gingrich-supporting Super-PAC Winning Our Future[4] in February. All together, Adelson has given more than $16 million to the Super-PAC.

In contrast, Gingrich’s own campaign only raised $2.5 million in February and spent $2.8 million during the month, leaving the campaign’s total debt at $1.5 million since campaigning began. Despite this, Gingrich claims that the campaign isn’t dependent on Adelson and Super-PAC funding.

Whether or not Gingrich is dependent on Adelson, the fact remains that it will likely take a miracle beyond his current donor base ponying up more money to his campaign for Gingrich to win the Republican nomination.

— Benjamin Nanamaker, InvestorPlace Money & Politics

The opinions contained in this column are solely those of the writer.

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  2. yesterday’s Illinois GOP primary:
  3. stinging second place finishes in Mississippi and Alabama:
  4. gave $5.5 million to the Gingrich-supporting Super-PAC Winning Our Future:

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