HONG KONG - The right-wing US advocacy group Freedom's Watch is reportedly shutting down as its main funder, Casino magnate Sheldon Adelson, becomes one of the high-profile casualties of the global economic downturn.
Freedom's Watch, which according to the Las Vegas Review Journal, has scheduled huge staff layoffs for the end of December, was one of the most prominent advocacy groups aligned with the Republican Party.
Adelson contributed over 30 million dollars to Freedom's Watch in 2007 and 2008, but has had to cut back on his philanthropy as his net worth – estimated at 36 billion dollars in 2007 – shrunk by 13 billion dollars.
