Sheldon Adelson is no longer the top super PAC donor

(Image credit: Isaac Brekken/Getty Images)

Casino magnate Sheldon Adelson became famous in the 2012 campaign for sinking nearly $50 million of his own fortune into super PACs, trying to find a Republican candidate of his liking who could beat President Obama. Adelson's $49.8 million record was topped last month, The New York Times reports, by fellow billionaire Tom Steyer, who has now given $55 million to his NextGen Climate Action Committee super PAC.

Steyer, an environmentalist who made his fortune in hedge funds, wants his money to elect Democrats in U.S. Senate and state governor races, with an eye toward influencing environmental policy. NextGen has spent its money on both TV ads in Senate races and also donated to environmental PACs and state party organizations. Steyer officially topped Adelson on Monday night, when NextGen reported a $15 million donation from its founder.

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Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.