×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: billionaire | casino | sheldon adelson | super pac | fundraising | campaign | ads

Sheldon Adelson, Wife Give $75M to Anti-Biden Group

Sheldon Adelson gestures during a media interview
Sheldon Adelson (Getty Images)

By    |   Thursday, 15 October 2020 10:12 PM EDT

Billionaire casino magnate Sheldon Adelson and his wife Miriam have given $75 million to a new political group that ran ads in battleground states during September that were critical of former Vice President and Democrat nominee Joe Biden.

The donation of Adelson, 87, and his wife, 75, to Preserve America PAC accounted for 90% of the group's fundraising in September, Politico reported Thursday, quoting a "person familiar with the group's finances."

Preserve America raised $83.76 million following its creation Aug. 31 and the end of September, also receiving $5 million from Home Depot co-founder Bernie Marcus, 91; $2 million from investment banker Warren Stephens, 63; and $1 million from ABC Supply co-founder Diane Hendricks.

According to Politico, in its upcoming Federal Election Commission filings, Preserve America – which is run by Chris LaCivita, the strategist behind the 2004 Swift Boat Veterans for the Truth campaign that questioned then-Democratic nominee for president John Kerry's Vietnam War record, will report spending $77 million, with $76 million of it on commercials deriding Biden.

In its short history, Preserve America has become one of the largest-spending independent outside super PACs focused on the presidential race, behind only the Biden-supporting Priorities USA Action and the Trump-backing America First Action, Politico said quoting the Center for Responsive Politics.

The money donated by Sheldon Adelson, who is the CEO of the Las Vegas Sands Corporation and is worth $30.4 billion, according to Forbes, and his wife more than doubles their previous political giving in the 2020 election cycle, Politico said quoting FEC data.

The couple previously had donated $54 million, including $50 million to the Senate Leadership Fund, the GOP super PAC dedicated to the Republicans' efforts on the upper chamber of Congress.

A major funder of Republican causes, Adelson has donated over $250 million to GOP candidates and groups since 2015.

That includes $1.6 million the Adelsons donated to Trump's campaign, as well as $10 million they gave to America First Action in 2018, FEC records show.

The Associated Press contributed to this report.

© 2023 Newsmax. All rights reserved.


Politics
Billionaire casino magnate Sheldon Adelson and his wife Miriam have given $75 million to a new political group that ran ads in battleground states during September that were critical of former Vice President and Democratic nominee Joe Biden.
billionaire, casino, sheldon adelson, super pac, fundraising, campaign, ads
340
2020-12-15
Thursday, 15 October 2020 10:12 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved