Sheldon and Adelson 2020-True News Report-Truenewsreport.com
Daily News Update, US POLITICS

THE BATTLE OF THE BILLIONAIRES – ADELSON V. BLOOMBERG

Democrats like to talk about the effect of big money in politics, but that is only when the big money is going to the Republicans. Michael R. Bloomberg, the former New York City mayor and presidential candidate announced Sunday that he planned to spend $100 million in Florida in the coming weeks to support Joseph Biden’s presidential candidacy. Bloomberg’s announcement was made after Democrats criticized him for not using more of his considerable fortune to defeat Trump.

In response to Bloomberg’s promise to help defeat Trump, another billionaire – Sheldon ADELSON made his own promise to Donald Trump – to spend $50 million to help Trump win a second term. Adelson is the CEO and chairman of Las Vegas Sands and owns more than half of the $14 billion gambling empire, which has casinos in Las Vegas, Singapore, and Macao, China.

Last week TrueNews reported that the Trump campaign is broke after Republican operatives complained about Trump ceding the airwaves to Joe Biden. The Trump campaign had confirmed that they had pulled away from buying ads to save money.

The Trump reelection campaign needs extra cash. This past spring, Trump lost a $200 million cash advantage over Biden. And of the $1.1 billion raised since 2019, Trump’s campaign burned through more than $800 million, sparking concern of a cash crunch in the election’s final leg among current and former campaign aides and Trump allies. Biden also out-raised Trump in August, bringing in $364.5 million while Trump and the RNC raised $210 million. Trump has said he would be willing to spend his own money, if necessary, explaining: “If I have to, I would … We have to win.” But Trump has not donated to his own campaign; instead, he antagonized Adelson in a telephone call asking him why he was doing more to help the campaign.

According to TrueNews sources, most of the money will go toward a new pro-Trump super PAC, “Preserve America,” which Adelson has helped fund along with several Republican donors. Other groups involved in Trump’s reelection bid, including the Republican National Committee, and groups helping Republicans in Congress could also receive some of the money.

The billionaires’ pledge came as new polls showed an incredibly tight race between Mr. Biden and President Trump in Florida, a key battleground state that carries 29 electoral votes.

Bloomberg’s commitment in Florida is a significant pullback from promises made by some of his advisers during the primary season. Kevin Sheekey, Bloomberg campaign manager, had told Democrats privately that if Mr. Bloomberg were not the nominee, he would form a new super PAC and mount an enormous effort against Mr. Trump in the country’s biggest swing states.

But after his candidacy ended, Mr. Bloomberg scrapped the idea of starting a new anti-Trump group. Throughout the summer, Democratic groups that approached Bloomberg were told by his aides that the former mayor had not yet approved any spending in the presidential race.

The $100 million commitment in Florida will be routed through one of Mr. Bloomberg’s super PACs, “Independence USA,” as well as other Democratic groups. The effort is expected to emphasize communications with Hispanic voters. In a statement issued Sunday, Mr. Sheekey said Mr. Bloomberg’s latest commitments “will mean Democrats and the Biden campaign can invest even more heavily in other key states like Pennsylvania, which will be critical to a Biden victory.” May the best billionaire win.

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