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War Chest 2012: Billionaire Donates $10M to GOP Effort to Oust Obama

Billionaire Sheldon Adelson donated $10 million to the Koch brothers' efforts to elect Mitt Romney and other Republican in November.

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Billionaire Sheldon Adelson, chief executive officer of the Las Vegas Sands, donated $10 million last weekend during a private Koch brothers’ fundraising summit in suburban San Diego, according to Fox News.

According to the Associated Press, Adelson previously contributed $10 million to Restore Our Future, the super PAC backs presidential candidate Mitt Romney and has donated $5 million each to two organizations promoting House Republicans.

During the Republican primary he and his family backed former House Speaker Newt Gingrich - donating some $21 million to a super PAC promoting the candidate which enabled him to keep his campaign afloat - the AP wrote.

Brothers Charles and David Koch are billionaire executives at Koch Industries who founded the small-government, anti-tax group Americans for Prosperity.

According to POLITICO, personal-investment businessman Charles Schwab, also made a major "seven-figure donation" to the Koch summit.

POLITICO reported Americans for Prosperity was among the biggest spenders on tough ads attacking President Barack Obama, and Kochs's Themis, a voter mobilization database, reportedly played a role in the Wisconsin recall fight among other groups.

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