Trump’s Fundraising Hurdle
Former President Donald Trump is banking on a lavish fundraising event to showcase his ability to unite Republican megadonors, yet a conspicuous absence looms large — that of his most significant benefactor from the 2020 campaign.
The Missing Supporter: A Key Player
Miriam Adelson and her late husband Sheldon Adelson, who were pivotal in funding Trump’s previous campaign with donations totaling $90 million, have notably refrained from financially backing Trump’s 2024 reelection bid.
Challenges with Megadonor Elite
Alongside the Adelsons, other well-known figures such as Blackstone Inc. CEO Stephen Schwarzman and Elliott Management’s Paul Singer are part of a cohort yet to pledge their support.
Building Bridges with Donor Elite
With President Biden amassing significant funds for the anticipated intense general election battle, Trump finds himself in dire need of financial support, especially as donations are also diverted towards legal expenses.
Negotiating Relationships and Expectations
Miriam Adelson, one of the richest women globally, and Trump have held discussions and shared meals, hinting at potential future contributions. However, Adelson’s spokesperson has remained tight-lipped on the matter.
Political Dynamics at Play
Trump’s critical comments about Israeli Prime Minister Benjamin Netanyahu and his stance on the Israel-Hamas conflict add layers of complexity to his relationship with the Adelsons, who have been staunch advocates for Israel.
Financial Outlook
Despite ongoing efforts to sway donors like Miriam Adelson, Trump enjoys renewed support from GOP billionaires as evidenced by a significant fundraising event expected to raise $43 million.
Legal Entanglements Encroach
However, the financial outlook is clouded by substantial legal expenses stemming from Trump’s legal battles across various states, depleting tens of millions of dollars.
