Gaming Magnate Widow Backs Trump’s Presidential Bid via Super PAC

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Dr. Miriam Adelson, widow of gaming magnate Sheldon Adelson and majority shareholder of Las Vegas Sands Corporation, is set to financially back Preserve America, a powerful super PAC focused on propelling former President Donald Trump back into the Oval Office come the fall.

Established as a significant player during the 2020 presidential race, Preserve America is gearing up for another high-stakes political game. A source close to the matter revealed that the super PAC is being restructured and primed for effective advocacy in this year’s election. The late Sheldon Adelson and his wife, Dr. Miriam Adelson, generously contributed $90 million to the cause in 2020, making up a whopping 85% of every dollar raised for the super PAC.

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Sheldon Adelson, who was the founder, chairman, and CEO of Sands Corporation, built the company into the biggest casino operator in the world by market capitalization, before his unfortunate demise on January 12, 2021, due to complications from non-Hodkinson’s lymphoma.

While the exact donation amount from Miriam Adelson for this election cycle remains undisclosed, recent minor political contributions — a first since the 2022 midterms — may suggest a ramping up of funding efforts this year.

The Trump campaign, following an impressive fundraising surge in April, still trails behind President Joe Biden’s re-election funds. Comparatively, Biden has an $84 million war chest, dwarfing Trump’s $49 million. That gap needs to be bridged for Trump’s campaign hopes, and crucial to this aim is courting wealthy donors like Adelson.

The campaign has already witnessed some triumphs on this front. Stephen Schwarzman, the billionaire founder, chairman and CEO of the Blackstone Group, recently announced he’ll back Trump, as he did in previous years. Blackstone, like Adelson, holds a significant stake in the gaming industry and owns the majority of real estate assets of the Bellagio and Cosmopolitan on the Las Vegas Strip.

Despite the Biden campaign’s fundraising prowess, Trump continues to prove skilled in rallying support from billionaire donors, recently securing backing from influential players in Silicon Valley and Wall Street.

Dr. Adelson’s support for Trump is rooted deep in their shared past. She currently owns 46% of Sands equity and, in partnership with her son-in-law, Patrick Dumont, holds a majority stake in the NBA’s Dallas Mavericks. Dumont also serves as the chief operating officer and president of Las Vegas Sands. Adelson’s relationship with Trump has been fueled by his support for Israel, notably through his decision to move the U.S. embassy to Jerusalem. For her support, Trump awarded Adelson the Presidential Medal Of Freedom in 2018.

In this landscape of big-money political contributions, other Trump donors, such as Circus Circus and Treasure Island owner Phil Ruffin, are not far behind. Ruffin, another influential name on the Las Vegas Strip, has donated more than $2.8 million to Trump-affiliated PACs this year. He also co-owns the non-gaming Trump Hotel on the Strip with the Trump Organization, further illuminating the intricate web of wealth underpinning the sphere of U.S. politics.