Trump and DeSantis Compete for Financial Support from Dr. Miriam Adelson
GOP hopefuls in the 2024 presidential race are hurrying to fill their campaign coffers, and in the GOP, the powerhouse that has financed the past few presidential campaigns has been the Adelsons. This prominent family amassed their massive fortune through casino gambling.
Dr. Miriam Adelson, the major shareholder of Las Vegas Sands, is the widow of Sheldon Adelson, who founded the casino empire that bore that name. Sheldon Adelson passed away in January 2021 after battling non-Hodgkin's lymphoma.
From the 2016 presidential election to the 2020 contest, where Joe Biden unseated Donald Trump from the White House, the Adelsons contributed more than $200 million to Republican federal candidates. The couple initially favored U.S. Senator Marco Rubio (R-Florida) in 2016 but eventually supported Trump when he won the Republican primary and ran against Hillary Clinton.
During Trump's time in the Oval Office, Mr. Adelson expressed discontent and even threatened to cease his contributions after the Republicans lost the 2018 midterms. Since Sheldon Adelson's death, Dr. Adelson has dramatically decreased the family's political giving. The Adelson trust donated $37 million to Republican candidates in 2021 and approximately $23 million in 2022.
She explained that the COVID-19 pandemic and Sands' decision to halt its dividend were her main reasons for donating less to political campaigns.
Recommencement of the Dividend
In July, Sands confirmed the reinstatement of its dividend, which Mr. Adelson had promised would be a massive part of the company he established, formerly owning The Venetian and Palazzo resorts on the Las Vegas Strip. The resumption of the dividend awarded Dr. Adelson about $87 million in the second quarter, a considerable amount but far less than what she and her husband were previously taking home before the pandemic.
Sands' majority of income comes from its activities in Macau. China's determination to maintain "zero-COVID" led to prolonged economic hardship in the casino enclave until late last year.
Since her bank accounts are now getting regular deposits, speculation is rampant that Dr. Adelson will again provide substantial aid to the Republican Party's 2024 presidential candidate. While Trump is speculated to be her top choice for 2024, Florida Governor Ron DeSantis is petitioning for her support.
Trump shares a close relationship with the Adelsons. In 2018, the late Mr. Adelson was given the Presidential Medal of Freedom by Trump for his humanitarian and philanthropic work. Trump also moved the U.S. Embassy from Tel Aviv to Jerusalem during his term in office, a decision the Adelsons ardently desired. Both Adelsons were present in the front row when the U.S. Embassy in Jerusalem opened in May 2018.
DeSantis' Attraction
While Trump is believed to be Dr. Adelson's first choice for 2024, Florida Governor Ron DeSantis is working to secure her endorsement.
In April, DeSantis had dinner with the $35.8-billion-net-worth woman at the Museum of Tolerance in Israel, and he also met with Israeli President Isaac Herzog. The Adelsons have a significant history with DeSantis as well; they donated over $500K to his gubernatorial campaign in 2018.
Trump maintains the most likely prospect for the GOP nomination. On PredictIt, an online political betting platform, bettors attribute a 58% chance to Trump of getting the GOP ticket for three consecutive presidential elections. DeSantis' odds are around 17%. [Total: 266]
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Source: www.casino.org
