Tough Times for Conservative Philanthropist

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After taking a hit of $4 billion in the recent financial turmoil, conservative philanthropist and Freedom’s Watch-backer Sheldon Adelson is no longer the third wealthiest person in the United States, according to a revised Forbes‘ list. Bloomberg:

Las Vegas Sands Corp. Chief Executive Officer Sheldon Adelson’s net worth declined by $4 billion between Aug. 29 and Oct. 1, the steepest drop among Americans who lost $1 billion or more during the credit crisis, according to Forbes magazine.

The magazine, in its Oct. 27 issue, recalculates the effect of September’s financial news on the wealthiest Americans, those who make up its Forbes 400 list. That list was published on Sept. 17.

Berkshire Hathaway Inc. Chairman Warren Buffett overtook Microsoft Corp. co-founder Bill Gates as the richest American by posting an $8 billion gain to $58 billion during the period, the magazine said. Gates’s net worth declined $1.5 billion to $55.5 billion during the 33-day period. He had been first for 15 straight years.

I wrote about the right’s frustration with Adelson’s tendency to take a hands-on role in projects he funded back in the spring. And Peter Stone profiled the casino mogul in the magazine.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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