Billionaire casino magnate and soon-to-be Dallas Mavericks owner Miriam Adelson (pictured) will be contributing significant funds to Donald Trump’s presidential campaign.
The Las Vegas Sands owner will be the lead donor to the “Preserve America” political action campaign (or PAC), the conservative fundraising group announced this week.
In 2020, Adelson and her late husband, Sheldon, donated a total of $218 million to Republican causes. That included $90 million to Preserve America, making them by far the group’s largest funder.
“Our goal is to raise more than we did last time, which was about $100 million,” Preserve America director Dave Carney told Reuters this week.
Adelson has an estimated net worth of $33.2 billion. Her fortune was built up through the world’s largest casino operator, Nevada-based Las Vegas Sands. Her husband, who died in 2021, was founder and chairman of the company.
The news comes on the same day that Trump was convicted on 34 felony counts of falsifying business records to the first degree. The charges related to a $130,000 hush money payment he sent to adult film star Stormy Daniels after an extramarital affair shortly before his 2016 presidential campaign. It makes him the first former U.S. president to be convicted of criminal charges, although he plans to appeal the decision.
Big Investors
Donald Trump’s bid to be elected president for the second time is currently well behind his opponent, Joe Biden, in terms of cash flow.
However, Adelson is rich enough to single handedly close that gap, should she choose to donate bigly, to use Trump’s parlance. In his bid to make up the $50 million in funding that his campaign trails Biden’s efforts, Trump is also courting other billionaire donors.
Stephen Schwarzman, the chairman of private equity fund Blackstone Group, which has major interests in Las Vegas Strip real estate, recently said he’s backing Trump in 2024. As he did in 2016 and 2020.
Trump has also held fundraising meetings with Silicon Valley tech entrepeneurs and leading cryptocurrency investors in recent weeks.
Adelson’s Contributions
The Adelson family and Trump go back a long way. Miriam Adelson is a large supporter of the state of Israel and promoting its interests in the U.S.
So when Trump made the surprise decision to move the U.S. embassy in Israel to the historically contested city of Jerusalem, she became an enthusiastic supporter.
Miriam and Sheldon attended Trump’s 2017 inauguration. In 2018, she was awarded the Presidential Medal of Freedom by Trump for her efforts in drug addiction treatment, supporting Jewish causes, and other philanthropic investments.
How much she plans to invest this time in Trump’s bid to return to the White House is unclear. Sources say Adelson and the former President have spoken in person and on the phone on multiple occasions over the past weeks.
Las Vegas Sands does not currently operate any U.S. casinos, instead focusing on its flagship properties in Asia. However, Adelson continues to have other U.S. business interests. The main family home is in Las Vegas, and she recently bought a majority share in the Dallas Mavericks from Mark Cuban.
David is an online casino expert who specializes in online slots and boasts over 10 years experience writing about iGaming. He has written for a wide range of notable publications, including eSports Insider and WordPlay Magazine.
David graduated Derby University with a BA Degree in English Literature and Creative Writing.
