Casino magnate and Republican megadonor Sheldon Adelson is plotting a spending blitz to support President Donald Trump with just under 50 days to go until Election Day, CNBC has learned.
Adelson, CEO of Las Vegas Sands, is looking to spend around $20 million to $50 million in a last-ditch effort to help Trump overcome Joe Biden, according to people familiar with the matter.
Most of the money is expected to go toward the new pro-Trump super PAC, Preserve America, these people added. Other organizations, including the Trump campaign, the Republican National Committee and groups helping Republicans in Congress, could also see some of Adelson’s money.
Last year Trump awarded Adelson’s wife the Presidential Medal of Freedom after she donated $500,000 to the legal defense fund for Trump officials.