Republican megadonor Miriam Adelson is set to invest tens of millions of dollars into a pro-Trump SuperPAC, shifting her support back to Donald Trump after initially considering other candidates during the primary stage. Miriam Adelson and her late husband, Sheldon Adelson, previously ranked as the top contributors to Trump’s campaign efforts in 2020, donating over $90 million to the Preserve America PAC.
BREAKING: Miriam Adelson is planning on contributing over $100 million to a super PAC for Trump.
Adelson is a principal shareholder of Las Vegas Sands and majority owner of the Dallas Mavericks, has an estimated net worth of $33.3 billion. pic.twitter.com/2fGGfLwHOg
— I Meme Therefore I Am 🇺🇸 (@ImMeme0) June 1, 2024
According to sources, Miriam Adelson intends to donate approximately $100 million to Trump’s campaign. Adelson, who holds the position of principal shareholder at Las Vegas Sands and possesses a majority stake in the Dallas Mavericks alongside her son-in-law, boasts an estimated net worth of $33.3 billion as per the Bloomberg Billionaires Index.
This financial commitment arrives at a time when former President Trump is seeing a surge in campaign contributions, which is significantly reducing the fundraising gap with current President Joe Biden. Particularly noteworthy was the influx of more than $50 million in donations to the Trump campaign in the aftermath of his conviction on 34 felony counts in a controversial case in Manhattan. This amount exceeded the total funds raised by President Biden for the entire month of May. Traditionally, Trump has maintained a strong base of small-dollar donors.
BREAKING: Miriam Adelson who owns a majority stake in the Dallas Mavericks, is planning on contributing over $100 million to a super PAC for Trump. pic.twitter.com/cmbjTj4Y29
— Ian Jaeger (@IanJaeger29) June 1, 2024
Federal Election Commission records indicate that 35 percent of the contributions to Biden’s 2024 re-election campaign are from large donors—those contributing over $2,000—while small donors, those giving between $1 and $200, account for 38 percent of his campaign’s funding. In contrast, Trump’s campaign has attracted 61 percent of its funds from small donors and only nine percent from larger contributions. From 2020 to 2024, Biden has seen a 10 percentage point increase in contributions from large donors, while Trump has experienced a decrease by the same margin.
Queen Latifah courtside in Dallas for Mavs-Wolves Game 3. Chatting it up pregame with Mavericks majority owner Miriam Adelson and her son-in-law Patrick Dumont.#MFFL @wfaa #NBA pic.twitter.com/Xg3icEMz41
— Jonah Javad (@JonahJavad) May 27, 2024
Moreover, Trump is garnering support from other significant financial backers. Hedge fund billionaire Bill Ackman, recently active in campaigning against DEI policies and campus antisemitism, is expected to endorse Trump, as reported by the Financial Times. Additionally, tech investors David Sacks and Chamath Palihapitiya are organizing a fundraising event in Silicon Valley on June 6 for Trump. Elon Musk, the owner of X, has also been holding regular meetings with the former president, signaling increased support from influential figures in the tech and finance sectors.
Major Points
- Miriam Adelson commits tens of millions to a pro-Trump SuperPAC, reinforcing her support after initially exploring other candidates.
- Adelson, a top donor in 2020, plans to donate around $100 million to Trump’s campaign, leveraging her substantial net worth from her stakes in Las Vegas Sands and the Dallas Mavericks.
- Trump’s campaign gains momentum, quickly closing the fundraising gap with Biden, particularly following a $50 million surge post his controversial felony conviction.
- Trump continues to draw a significant portion of his campaign funds from small-dollar donations, contrasting with Biden’s larger reliance on big donors.
- High-profile financial backers, including tech investors and a hedge fund billionaire, are increasingly supporting Trump, indicating growing elite endorsement.
Fallon Jacobson – Reprinted with permission of Whatfinger News
