Billionaire GOP Megadonor Miriam Adelson Gives $95 Million To Pro-Trump Super PAC

15 Oct 2024 by Antonio Pequeño IV · Forbes

Topline

Republican megadonor and billionaire Miriam Adelson shelled out $95 million to the pro-Donald Trump Preserve America PAC during its third quarter, according to a Tuesday Federal Election Commission filing, revealing a massive slate of contributions as the election nears.

Adelson made the donations in July, August and September. (Photo by JIM WATSON/AFP via Getty Images)AFP via Getty Images

Key Facts

Adelson made four large donations to the Preserve America PAC in July, August and September totaling $95 million and accounting for a large majority of the PAC’s third quarter contributions.

The $95 million brings Adelson’s total donations to the Preserve America PAC to $100 million so far this year.

The Trump-supporting super PAC has allocated $113 million toward presidential campaign ads, according to The Wall Street Journal, which cited ad tracking firm AdImpact.

Adelson, who also donated $1 million to Georgia Gov. Brian Kemp’s super PAC, assured Trump earlier this year she would provide $90 million to help his campaign, The New York Times reported.

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Forbes Valuation

We estimate Adelson’s net worth at $34.4 billion, making her the 54th richest person in the world and placing her among the top 10 of the world’s richest women.

Tangent

Adelson secured a 73% majority stake in the Dallas Mavericks last year in a deal worth roughly $3.5 billion. Fellow billionaire Mark Cuban—a vocal supporter of Vice President Kamala Harris—remained the team’s head of basketball operations and retained a 27% minority stake in the team through the deal.

Key Background

Adelson is the widow of Las Vegas Sands’ former CEO Sheldon Adelson, who was Trump’s largest donor in 2016. The couple also donated some $90 million to pro-Trump groups in the 2020 rate. Adelson has remained a Republican megadonor following her husband’s death in 2021. She held off donating to Trump while former Republican presidential candidate Nikki Haley was in the race, according to the Times, as the two were friends and have reportedly gathered for multiple meetings within the last year. Adelson’s donations to a pro-Trump group are crucial for the former president, as Harris’ campaign has raised $1 billion this year compared to the Trump campaign’s $853 million, the Times reported. However, the top 10 PACs supporting Trump have raised about $329.4 million since the start of the year compared to the $256.6 million raised by the top 10 Harris-supporting PACs, partially narrowing the gap between the two candidates.

Big Number

2.4 points. That’s Harris’ lead over Trump in national polls, according to FiveThirtyEight’s weighted polling average. Margins are even tighter in the seven swing states likely to determine the winner.