By: Josiah McBride
The 2020 presidential campaign is in full swing and funding is an integral part of it. President Trump will depend on funding from generous billionaires, as polls shows the incumbent is behind Joe Biden nationally and in key swing states. Even though President Trump’s campaign maintains a cash advantage over Biden, the President apparently lashed out against one of his top supporters.
As reported by the NY Post, last week the President held a heated phone call with GOP mega-donor Sheldon Adelson. Trump reportedly scolded the 86-year-old casino magnate for not contributing an ample sum to his reelection campaign. The CEO of Las Vegas Sands Corp, who has proved to be one of the most important Republican donors in the United States, had phoned the President to discuss federal coronavirus relief efforts and the economy. According to sources with Politico, the call had taken a turn for the worse, which may have left Adelson with marred feelings. At least one source said the President seemed to be unaware of the tens of millions that Adelson has donated to his and other GOP campaigns throughout the years.
GOP officials went to work immediately trying to repair the damage and stifle any hard feelings. However, there is still fear that the call may lead to backlash from Adelson, with the donor being less generous during the final months of the campaign. Those close to the billionaire said it was not known if and how the phone call would impact his campaign contributions.
Adelson, the businessman, investor and philanthropist has an estimated net worth of approximately $30 billion in 2020, as per Forbes, making him the 28th-richest person in the world and 17th in Forbes 400 for the United States. He was the largest donor of any political party, in both the 2012 and 2016 presidential campaigns. He had contributed $25 million to Trump’s 2016 campaign, making him the Trump’s biggest donor, and the largest donor in the presidential election throughout the parties.
Earlier in the month, Adelson’s company, which owns the stylish Venetian Hotel and Casino and the Sands Expo and Convention Center in Las Vegas, had vowed to do its share in helping the economy during the COVID-19 pandemic. He announced that Las Vegas Sands Corp would keep paying its approximately 8,000 US employees at least till the end of October, despite the deep blow the Coronavirus shutdown has dealt to the tourism and casino industry. “To my knowledge, we are the only company in our industry and likely one of few in the broader hospitality industry who has not furloughed or laid off employees because of the Covid-19 pandemic,” Adelson had said.