Advertisement

Close this content

Billionaire Miriam Adelson Plans to Give Millions to Help Trump

Nancy Cook and Saleha Mohsin

30 May 2024 at 2:07 pm·3-min read

(Bloomberg) -- Miriam Adelson, one of the wealthiest women in Republican circles, intends to donate to Donald Trump, according to people briefed on the matter, giving the former president a huge financial boost heading into the November election.

Most Read from Bloomberg

Adelson plans to donate millions to Preserve America, a super political action committee supporting Trump. Federal records show Adelson and her late husband, casino mogul Sheldon Adelson, gave $90 million in 2020. She plans to give at a similar level this cycle, according to a person familiar with her thinking. Preserve America is anticipating raising even more than the $105 million it had last election, according to another person familiar with the group’s fundraising.

The super PAC will be lead by Dave Carney, a longtime GOP operative from New Hampshire with close ties to Texas Governor Greg Abbott.

Politico first reported Adelson’s intention to donate to Trump.

The Trump campaign has been on the hunt for donations from deep-pocketed donors since the former president clinched the Republican nomination in March. With a fortune of $33.3 billion, according to the Bloomberg Billionaires Index, Adelson is in a financial position to contribute sums that could help Trump close the massive fundraising gap he has with his opponent President Joe Biden.

Trump has spent months seeking to win Adelson’s financial support. He dined with her in Las Vegas in February on the same night he declared victory in the Nevada caucus. Last year, the two also met at Mar-a-Lago in Florida and in Las Vegas during the Republican Jewish Coalition’s conference. One of Trump’s top aides, Chris LaCivita, helped to run the pro-Trump super PAC in 2020, called Preserve America, that received the bulk of its funding from Adelson and her late husband.

Trump has scored other major fundraising victories in recent weeks, including a $40 million swing through Texas and winning the support of Blackstone Inc.’s Steve Schwarzman, one of the most prolific Republican donors, who had previously said he was looking for an alternative to Trump.

Biden has roughly twice as much cash on hand as Trump, though the former president for the first time in April raised more money than his opponent.

Since 2010, the Adelsons have donated $550 million to Republican candidates and causes at the federal level, according to OpenSecrets. They gave more than twice as much as any of the party’s other mega-donors during that period, including the $239 million donated by Citadel’s Ken Griffin and the $230 million contributed by Uline Inc. co-founders Richard Uihlein and Elizabeth Uihlein.

The Adelsons are Trump’s biggest financial backers, contributing $122 million to his election efforts since 2016, but she didn’t support him or any other candidate in the 2024 GOP primary, despite efforts from Florida Governor Ron DeSantis and former UN Ambassador Nikki Haley to woo her.

Adelson has slowed the pace of giving since her husband died in 2021. She gave $25 million in the 2022 midterm election cycle, a considerable drop from the $124 million that she and her husband gave four years prior. Her only federal donation so far this year is the $5,000 she gave in March to the political action committee of Las Vegas Sands Corp., the company her husband founded.

--With assistance from Bill Allison.

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.

Australian Associated Press
'Confronting' talks sparked Hawks' revival: Worpel
Red-hot Hawthorn face a tough assignment away to Adelaide in another test of their AFL finals credentials as the top-eight race heats up.
Australian Associated Press
Luai's six-year-old son the coach behind rare dropouts
Jarome Luai has detailed how his six-year-old son has helped him perfect a rugby style drop kick, proving more effective in regaining the ball on dropouts.
Australian Associated Press
Trump vows return to shooting scene, Obamas back Harris
Donald Trump has vowed to hold a "big and beautiful rally" in the town where he was shot at as Democratic rival Kamala Harris begins to narrow his lead.
Australian Associated Press
Latest tests show Seine water quality substandard
Tests results just released show the water quality in the Seine was below the standards needed to authorise swimming when Paris Mayor Anne Hidalgo jumped in.
Australian Associated Press
Immigration detainee charged over alleged drug ring
Police allege an immigration detainee used an encrypted messaging service to deal drugs and co-ordinate a network of runners outside the facility.
Australian Associated Press
Aussie Chris Green stars with bat and ball for Rockets
Australian allrounder Chris Green has starred for the Trent Rockets in a 47-run win over the Northern Superchargers in the men's Hundred at Headingley.
Australian Associated Press
Ferraris, Fiji and an Aussie 7s blue-collar rebirth
Australia's blue-collar men's rugby sevens team will face two-time defending champions Fiji in the Paris Olympics semi-finals.
Australian Associated Press
Trent Rockets' Australian trio in successful lift-off
Trent Rockets' Australian contingent of Alana King, Heather Green and Ash Gardner came to the fore in a 20-run victory over Northern Superchargers.
Australian Associated Press
Flame soars, rain falls in historic Paris Games opening
Cathy Freeman's former rival played a key role as rain tumbled and Paris's 2024 Olympic Games was officially opened, 100 years after it first played host.
Australian Associated Press
Seeing clearly: 20/20 vision restored for refugees
Newly arrived refugees have higher rates of eye problems than most Australians but a free service is restoring vision for those losing it.
Australian Associated Press
Choi opens up lead in Senior Open, Green hangs tough
South Korean K.J. Choi has opened up a two-shot lead at the Senior Open with Australian Richard Green three shots behind at Carnoustie.
Australian Associated Press
Fire water set for Port Philip Bay and agriculture
Millions of litres of water from a large factory fire is being treated before it's released into the Port Philip Bay or used for industrial purposes.
Australian Associated Press
A week in Wayne's world inspires All Blacks great Umaga
Tana Umaga, Moana Pasifika coach and All Blacks legend has spent a week with Wayne Bennett at the Dolphins to soak up some cross-code benefits
Australian Associated Press
Mexico drug kingpin pleads not guilty to US charges
There are reports a younger man arrested alongside a Mexican drug cartel kingpin lured him to the US where both were arrested, as part of a plea bargain.
Australian Associated Press
Norris and Piastri deliver McLaren one-two in practice
Lando Norris leads home Oscar Piastri as the McLaren pair dominate second practice for the Belgian Grand Prix at Spa-Francorchamps.
Australian Associated Press
Three days of mourning after deadly Ethiopian landslide
At least 257 people have died in a devastating mudslide in Ethiopia, and the search for bodies continues.
Australian Associated Press
Trump touts ties to Israel's Netanyahu, blasts Harris
US Republican presidential candidate Donald Trump dispelled rumours of tensions with Israeli Prime Minister Benjamin Netanyahu as they met in Florida.
Australian Associated Press
Windies strike back late on as England hit a wobble
England face a battle after losing late wickets to close the first day of the third Test on three for 38 having earlier swept West Indies away for 282
Australian Associated Press
Swimmers look to start gold rush on opening day
Australia's swimmers will be the stars of the show on the opening day of competition at the Paris Games as they chase four Olympic gold medals.
Australian Associated Press
'Mission Impossible': Ebden laughs off Djokovic task
Australian veteran Matt Ebden is laughing off the prospect of taking on Novak Djokovic in his first tour-level singles match for two years at the Olympics.