What happens when you make a sizable donation to a super PAC whose candidate drops out of the race? If you're Miriam Adelson, wife of billionaire casino magnate Sheldon Adelson, you get your money back.
According to the latest filing from Winning Our Future, the super PAC that supported Newt Gingrich's failed presidential bid, Miriam Adelson will receive a full refund of her $5 million contribution made earlier this year. The casino mogul's wife donated the money on the condition that the super PAC would apply the funds to ads supporting Gingrich and not negative attack ads targeting his opponents.
While it is not yet known if Adelson will pledge her refund toward Restore Our Future, the super PAC backing presumptive Republican presidential candidate Mitt Romney, $5 million to her and her husband is nothing short of pocket money.
Sheldon Adelson, one of the world's wealthiest men, has become a fixture in election-year spending reports. His total political contributions this election cycle add up to at least $71 million, making him the all-time leader in donations to independent spending groups.
Though Sheldon Adelson once likened Romney to President Barack Obama and criticized the former Massachusetts governor for not being a "bold decision maker" like Gingrich, he later shifted his support toward Romney when Gingrich exited the GOP race. Just last week, it was announced that he gave $10 million to pro-Romney super PAC Restore Our Future.
(h/t Peter Stone)