{"id":85928,"date":"2024-10-16T21:20:15","date_gmt":"2024-10-16T21:20:15","guid":{"rendered":"https:\/\/neclink.com\/index.php\/2024\/10\/16\/miriam-adelson-contributes-95m-to-trump-pac\/"},"modified":"2024-10-16T21:20:15","modified_gmt":"2024-10-16T21:20:15","slug":"miriam-adelson-contributes-95m-to-trump-pac","status":"publish","type":"post","link":"https:\/\/neclink.com\/index.php\/2024\/10\/16\/miriam-adelson-contributes-95m-to-trump-pac\/","title":{"rendered":"Miriam Adelson Contributes $95M to Trump PAC"},"content":{"rendered":"


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\n Posted on: October 16, 2024, 04:16h.\u00a0\n <\/p>\n

\n Last updated on: October 16, 2024, 04:16h.\n <\/p>\n

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During the third quarter, Dr. Miriam Adelson donated $95 million to a super political action committee (PAC) focusing on former President Donald Trump\u2019s 2024 bid.<\/p>\n

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Dr. Miriam Adelson embraces Donald Trump at his Trump National Golf Club in Bedminster, NJ, on Aug. 15, 2024. Filings show she donated $95 million to a pro-Trump super PAC in the third quarter. (Image: AP<\/em>)<\/figcaption><\/figure>\n

A Tuesday filing with the Federal Election Commission (FEC) indicates Adelson \u2014 the widow of Las Vegas Sands (NYSE: LVS) chairman and CEO Sheldon Adelson \u2014 made four contributions to the Preserve America PAC totaling $95 million during the July through September period.<\/p>\n

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After bankrolling the Republican Convention<\/a> in Milwaukee in July, later that month Adelson donated $25 million to Preserve America, according to the FEC document. That July 26 transaction was followed by another in the same amount on Aug. 13. Adelson, 78, donated another $25 million to the PAC on Sept. 9 and $20 million eight days later.<\/p>\n<\/div>\n

That quartet of transactions brought Adelon\u2019s year-to-date contributions to Preserve America to $100 million. She accounted for the bulk of the third-quarter donations to the PAC, which is aiming to spend close to $115 million on television advertisements to support Trump\u2019s 2024 election effort.<\/p>\n

Adelson Spending Comes as Trump Odds Shorten<\/h2>\n

On Monday, the Las Vegas Review-Journal<\/em> endorsed Trump<\/a>. Nevada\u2019s most circulated newspaper has been owned by the Adelson family since 2015.<\/p>\n

That endorsement coupled with news of Adelson\u2019s massive financial largess to Preserve America comes against the backdrop of betting markets pricing in shortening odds of the former president reclaiming the White House next month. Current odds on Polymarket, which is one of the most active<\/a> political betting sites, imply Trump has a 58.7% chance of winning compared to 41% for Democrat nominee Vice President Kamala Harris.<\/p>\n

Those are the best odds Trump has seen since July, though it should be noted Polymarket isn\u2019t available to US bettors. Rival prediction markets currently also favor Trump, though national polling suggests Harris has a modest lead over her opponent.<\/strong><\/p>\n

Shares on Polymarket are priced from $0 to $1 with a share trading at 50 cents implying even odds of the event occurring or not happening. Contracts on Polymarket are purchased via the Polygon cryptocurrency, which is based on the Ethereum blockchain.<\/p>\n

Adelson Living Up to Pledge to Back Trump<\/h2>\n

Adelson \u2014 the largest individual shareholder in Sands and majority owner of the NBA\u2019s Dallas Mavericks \u2014 is living up to a promise to support Trump\u2019s quest for a second term in the Oval Office. Earlier this year, she said she\u2019d be a major benefactor<\/a> of Preserve America and she\u2019s followed through on that pledge.<\/p>\n

Her support, however, isn\u2019t surprising. In 2020, she and her late husband donated $90 million to the PAC and during the 2016 presidential race, the couple were the biggest donors to Trump.<\/p>\n

Adelson\u2019s history with Trump is well-documented with much of her support of the former president stemming from his backing of Israel and a decision to move the US embassy there to Jerusalem. He awarded her the Presidential Medal of Freedom in 2018<\/strong>.<\/p>\n<\/div>\n


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