20.10.2020 11:23

Sheldon Adelson will spend $ 50 million for President Donald Trump re-election.

Sheldon Adelson, CEO of Las Vegas Sands billionaire is looking to donate up to $ 50 million to help his former casino colleague Donald Trump win re-election.

The 87-year-old Adelson’s fortune is estimated at $ 31.7 billion. He has made the most contributions from the Republican party in each of the last two election cycles, and while he and his wife, Dr. Miriam Adelson, have kept their fortune in secret for most of the 2020 campaign, the situation is about to change.

Last month, news broke that Adelson would fund the President’s re-election campaign in the last two months. CNBC reported this week that sources close to the casino magnate say he has set aside between $ 20 million and $ 50 million to help Trump retain the post in the White house.

When rumors of a feud between Trump and Adelson appeared, Adelson’s right-hand man, Andy Abboud, told a group of Republican donors that Nevada’s wealthiest family is “110 percent behind the President.”

The Federal Election Commission (the FEC) shows that the Adelsons’ last donations were made in July and were sent to the Republican National Committee (RNC). These contributions cost at least $ 500,000.

In June, the Adelsons donated $ 25 million to the Senate Leadership Fund.

Sheldon Adelson is expected to make his next multi-million dollar contribution to Preserve America, a political action Committee (super PACs) that is working to re-elect Donald Trump for another four years.

Preserve America raised $ 28.4 million this year. The super PACs is led by the Republican Party strategist Chris LaCivita, who is best known for being the mastermind behind the Swift Boat Veterans for Truth campaign that upended John Kerry’s 2004 presidential election.

Along with Adelson, Home Depot co-founder Bernie Marcus, a billionaire, is ready to assist financially Preserve America.

The 2020 presidential election will be the most expensive in US history. By November 3, billions will be spent. OpenSecrets, the Center for Responsive Politics that tracks campaign fundraising, reported that the 2020 presidential candidates have already raised more than $ 2.8 billion.

Former Democratic party candidate Michael Bloomberg, who spent more than $ 1 billion because of his failed 2020 bid, is spending another $ 100 million on ads in Florida in support of Joseph Biden over the past two months.

Latest odds

Biden remains the favorite to bet on PredictIt, with his share at 59 cents, and Trump’s share at 44 cents.

UK bookmakers: Biden’s odds are 5/6 (estimated probability 54.5%).

On average, according to the Real Clear Politics, Biden leads bya 5.8 points in the General election. However, last week this figure fell from 7.5.