The substantial donation comes as Trump has continued to lose support according to numerous public opinion polls, prompting the super PAC to release a series of anti-Joe Biden ads in crucial swing states, which are necessities if Trump were to retain his position as president.
The influx of money will account for roughly 90 percent of the group’s fundraising in September, according to Politico. Adelson thus far has given at least $176 million in the 2020 election cycles, including to various Republican candidates and committees as a means to protect the Republican majority in the Senate and try to win the House of Representatives for the party.Adelson has also given to the Republican State Leadership Committee, which focuses on gaining victories for the Republican party at the state-level.
Other moguls to give to Preserve America include Home Depot co-founder Bernie Marcus, who gave $5 million, investment banker Warren Stephens, who gave $2 million, and businesswoman Diane Hendricks, who gave $1 million. The vast majority of money spent by Preserve America has been utilized in attack ads on Biden, accounting for $76 million of the $77 million raised by the super PAC.This has made the organization one of the largest spenders during the election cycle, only dwarfed by the pro-Biden super PAC Priorities USA Action and America First Action, another long-running pro-Trump group.
The decision by Adelson to give funds came despite tensions between him and Trump, as the latter accused Adelson of not doing enough to help his reelection during the summer. Trump increasing concerns over funding was also due to Biden and affiliated groups raising a record-smashing $383 million in the month of September.