Billionaire Sheldon Adelson planning to spend $20-50 million supporting President Trump's reelection bid

Billionaire casino magnate and Republican mega-donor Sheldon Adelson is reportedly planning to spend $20 million to $50 million to support President Trump’s reelection bid.

CNBC on Wednesday cited sources saying Adelson is looking to give the Trump campaign a boost with just under 50 days left until the Nov. 3 election.

A majority of the funding will reportedly go toward Preserve America, the new pro-Trump super PAC, while other recipients may include the Trump campaign, the Republican National Committee and other groups helping congressional Republicans.

The GAG has reached out to representatives for Adelson for comment.

The report follows a New York Times report that Trump called out Adelson for not being a more generous help towards his reelection campaign.

According to data from the Center for Responsive Politics, Adelson and his wife contributed more than $82 million to mostly Republican causes four years ago. They have given just over $27 million this election cycle.

Trump is trailing Democratic presidential nominee Joe Biden by 6.2 percentage points nationally, according to a RealClearPolitics polling average.