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Billionaire Sheldon Adelson planning to spend $20-50 million supporting Trump: report

Billionaire casino magnate and Republican mega-donor Sheldon Adelson is reportedly planning to spend $20 million to $50 million to support President Trump’s reelection bid.

CNBC on Wednesday cited sources saying Adelson is looking to give the Trump campaign a boost with just under 50 days left until the Nov. 3 election.

A majority of the funding will reportedly go toward Preserve America, the new pro-Trump super PAC, while other recipients may include the Trump campaign, the Republican National Committee and other groups helping congressional Republicans.

The Hill has reached out to representatives for Adelson for comment.

The report follows a New York Times report that Trump called out Adelson for not being a more generous help towards his reelection campaign.

According to data from the Center for Responsive Politics, Adelson and his wife contributed more than $82 million to mostly Republican causes four years ago. They have given just over $27 million this election cycle.

Trump is trailing Democratic presidential nominee Joe Biden by 6.2 percentage points nationally, according to a RealClearPolitics polling average.

Tags 2020 presidential campaign Donald Trump Joe Biden Sheldon Adelson Super PAC

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File - A Chevrolet Bolt is displayed at the Philadelphia Auto Show, Jan. 27, 2023, in Philadelphia. Electric vehicles are far less reliable than gasoline-powered cars, trucks and SUVs, mainly because most automakers are still learning how to build a completely new power system, according to this year's auto reliability survey by Consumer Reports.(AP Photo/Matt Rourke, File)
File - A Chevrolet Bolt is displayed at the Philadelphia Auto Show, Jan. 27, 2023, in Philadelphia. Electric vehicles are far less reliable than gasoline-powered cars, trucks and SUVs, mainly because most automakers are still learning how to build a completely new power system, according to this year's auto reliability survey by Consumer Reports.(AP Photo/Matt Rourke, File)

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In this photo released by the Governor of Sevastopol, Mikhail Razvozhayev telegram channel, a rescuer gestures as he helps people during an evacuation after storm and flooding in Sevastopol, Crimea, Monday, Nov. 27, 2023. A storm in the Black Sea took down power grids and left almost half a million people without power after it flooded roads, ripped up trees and damaged buildings in Crimea, Russian state news agency Tass said. (Governor of Sevastopol Mikhail Razvozhayev's telegram channel via AP)
In this photo released by the Governor of Sevastopol, Mikhail Razvozhayev telegram channel, a rescuer gestures as he helps people during an evacuation after storm and flooding in Sevastopol, Crimea, Monday, Nov. 27, 2023. A storm in the Black Sea took down power grids and left almost half a million people without power after it flooded roads, ripped up trees and damaged buildings in Crimea, Russian state news agency Tass said. (Governor of Sevastopol Mikhail Razvozhayev's telegram channel via AP)

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