THE UNWARRANTED ATTACKS ON SHELDON ADELSON
By RONN TOROSSIAN
Successful entrepreneurs and donors to conservative issues are under brutal attack by President Obama and the liberal media machine. Obama in a well publicized speech business owners and said “You didn’t build that”, and his campaign this week issued a fundraising email assailing Sheldon Adelson, a private citizen for wanting to pay less taxes. The email concluded: “We don’t have Sheldon Adelson, and with all due respect, we don’t want him.” It seems that Occupy Wall Street has succeeded demonizing business — and may indeed today be occupying government and media
Not a week passes by that media headlines don’t accuse Adelson of some egregious matter – whether in business or in politics. Amongst the myriad of differences between the right wing and left-wing are their views on success. The right admires and respects business and executives (particularly the self made), and the left is jealous and suspicious. Adelson is indeed guilty of supporting free enterprise and capitalism. Is that a crime?
The president skewering a private citizen because of his political beliefs is despicable. The amount of money Adelson spends on politics is dwarfed by what he gives to philanthropy (and what he spends on taxes). Even Harvard Law School Professor Alan Dershowitz blasted the Democrats for their accusations against Adelson earlier of using “dirty money” to support his super PAC donations. The Democratic Congressional Campaign Committee apologized for libeling Adelson – because if they hadn’t Adelson was going to sue them for libeling him.
Sheldon Adelson was born into a poor immigrant family, the son of a Boston cab driver – and today is the world’s 14th wealthiest man with a net worth approaching $25 Billion dollars. He is ideological, driven and focused – and lives by the principles his father instilled in him: “honesty and integrity.” The liberal fascination with Sheldon Adelson is one which will indeed out live this Presidential election – its intended to dissuade other successful people from challenging their elite insiders system.
Adelson made his billions challenging the systems and conventional wisdom – and won. He’s made it in Vegas and cannot be intimidated, even by the Obama, and media machine. In 1979 he developed the largest computer show in the world, Comdex. “Experts” said it would never be successful – he disagreed, and won in a major way, 15 years later selling his share for $500 Million dollars. In 1989 he acquired the Sands Hotel & Casino, and in 1990 built the Sands Expo center. As he says, his dream came true as he succeeded in drawing millions of visitors to Las Vegas, attracting other exhibitions and succeeding beyond his wildest expectations. Adelson had to raise more than $1 Billion, raze the hotel, plan a massive 13 million square foot project – and today shares of his company are worth nearly double that of his rivals Wynn and MGM combined.
Think that was tough? It’s not just in America Adelson thrives – his business exploded in Macau, the Chinese gambling city where once again analysts, bankers and others told him he couldn’t succeed. Adelson made back his initial $265 million investment in one year and has succeeded tremendously there. This month, he has decided in Madrid he will build EuroVegas, a $21-billion European gambling city which would offer Spain up to a quarter million desperately needed jobs. Spain would be wise not to bet against Adelson.
One wonders in what universe it is acceptable for the American President to tell a hard-working private citizen… “with all due respect, we don’t want him.” Adelson is famously resilient and focused on winning. He has said: “I’m a businessman. I thrive on creating projects that produce jobs, taxes and economic prosperity.”
This administration, in collaboration with the liberal media has shamefully demonized Adelson simply because of his belief in a system of free enterprise, and political disagreement with Obama. The manner in which this entrepreneur mogul has been demonized by the liberal press since he decided to assist the Republican Party is nothing short of demonic.
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