Billionaire Commits $20 Million to Gingrich

December 15, 2011

Billionaire Commits $20 Million to Gingrich

Casino magnate Sheldon Adelson "is planning to direct $20 million to an outside group backing Newt Gingrich's presidential campaign," Politico reports -- "the first answer to urgent pleas from allies to the former speaker's long-time billionaire supporters."

"After leaving Congress, Gingrich cultivated a network of a few dozen uber-wealthy backers who poured tens of millions of dollars into a network of groups that helped him maintain a foothold in politics. Now, operatives supporting his presidential campaign are asking those same donors to write fat checks to a suite of new super PACs they hope can spend big on ads to offset Gingrich campaign fundraising that had lagged behind his rivals."

Greg Sargent explains how this is legal.

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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December 15, 2011