MONEY, MONEY, AND MORE MONEY

On October 12, Horse Racing Business published the article “Richest American Race Horse Owners, 2012.” It identified and provided background on six people on the latest Forbes 400 list of wealthiest Americans who are involved with horse racing. On October 22, the Forbes article “Follow the Money” showed the largest Forbes 400 contributors to political candidates and organizations in the current election cycle.

Two of the biggest contributors are in horse racing and another is prominent in casinos and gaming. All three of them support conservative candidates and positions. By far, the biggest donor is Sheldon (and Miriam) Adelson, chairman and CEO of Las Vegas Sands, who has given $36.25 million. B. Wayne Hughes, owner of Spendthrift Farm, has given $1 million, as has Kenny Troutt of Winstar Farm.

Forbes writes: “Plenty more cash has been given anonymously to political groups that operate under the guise of nonprofits.” Forbes 400 donors range from James Simons and Irwin Jacobs on the left to Adelson and Harold (and Annette) Simmons on the right.

Racing participants have a long history of putting lots of money into political campaigns to achieve their objectives. Governor Steve Beshear of Kentucky, for example, was heavily supported monetarily by racing interests in Kentucky in two gubernatorial campaigns.

Copyright © 2012 Horse Racing Business

Comments

  1. markinsac says

    It’s kind of odd that conservatives believe low taxes will spur economic growth–EXCEPT AT THE RACE TRACK!

    How does a 20% takeout (tax) spur economic growth, especially when other forms of gambling charge dramatically less? If they put their money where their mouth is, they will lower the takeout immediately.

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