Low-budget Donald Trump gets a boost as casino mogul Sheldon Adelson prepares to spend a whopping $ 50 million on the latest election
- President Donald Trump gets a cash injection from casino mogul Sheldon Adelson, CNBC reported Wednesday
- Adelson will give between $ 20 and $ 50 million to a Trump-tuned super PAC as Trump and Repubican Party’s campaign could also make money
- Adelson’s promise came after Trump visited Las Vegas, but the Trump campaign declined to comment on whether the two businessmen met
- The President and Republicans squander their financial advantage, with Democrat Joe Biden breaking records in political fundraising in August
- Biden will also be helped by Democratic billionaire Michael Bloomberg, an ex-rival who pledged to donate $ 100 million of his wealth to turn the state of Florida.
President Donald Trump gets a cash injection from casino mogul Sheldon Adelson, with the GOP super donor poised to spend between $ 20 million and $ 50 million to keep Trump in the White House.
CNBC first reported Adelson’s plans, in which the multi-billionaire is expected to give most of the money to a new pro-Trump super PAC called Preserve America.
The Trump campaign, the Republican National Committee and other groups that support the election of Republicans may also see some of Adelson’s dollars.
Billionaire Sheldon Adelson will allocate between $ 20 million and $ 50 million to Trump-aligned groups after news broke that the president and Republicans were squandering their financial advantage on Joe Biden and the Democrats
Trump (left), photographed Tuesday with Israeli Prime Minister Benjamin Netanyahu (right), visited Las Vegas over the weekend while playing a play for Nevada, but his campaign declined to comment on whether he and Adelson met
Adelson (left) and Trump (right) were photographed together at the 2019 Israeli American Council National Summit in Florida. Adelson has had significant influence in the Republican Party, donating millions to GOP candidates
Adelson’s team has been in touch with Republican officials close to the president about where the money can best be put to use, according to a CNBC source.
Last weekend, Trump visited Las Vegas, Adelson’s hometown and where his Las Vegas Sands Corportation is headquartered.
The Trump campaign declined to comment to DailyMail.com as to whether the two businessmen met while the president was on the scene.
The president plays for Nevada, a state he lost to Democrat Hillary Clinton in 2016 by less than 2.5 points.
But he also has to defend himself against democratic gains in states he won in 2016.
On Sunday, billionaire Democrat Michael Bloomberg pledged to drop at least $ 100 million to help Trump’s rival, former Vice President Joe Biden, turn the state of Florida.
That news comes after Biden’s campaign announced a record-breaking $ 364.5 million fundraiser in the month of August – the month Biden announced Senator Kamala Harris as his running mate and headlined a virtual Democratic National Convention.
Meanwhile, the Trump campaign and the Republican Party raised $ 210 million in August.
Earlier this month, The New York Times published a deep dive about how the Trump campaign squandered its financial advantage, burning more than $ 800 million of the $ 1.1 billion the campaign raised from early 2019 to July 2020.
The Times found that about $ 350 million, nearly half of all money spent, went to more donors – and the campaign spared no expense.
The report also documented some of the campaign’s crazier spend, including $ 156,000 for planes pulling banners in the sky – a move often used to troll Democrats at their events.
The campaign also gave $ 110,000 to a company called Yondr, which provided magnetic pouches to the campaign for fundraiser attendees to store their cell phones so that no video or audio recordings could be made.