But Adelson’s Presidential Medal of Freedom — which liberals are mocking as an award for the $113 million Adelson and her billionaire casino mogul husband, Sheldon Adelson, contributed to conservative candidates, super PACs and other political committees during the 2018 midterm elections — comes as some Republicans are fretting about the party’s reliance on a handful of aging billionaires.
Several prominent Republican fundraisers and major donors confirmed the GOP is both concerned about keeping current megadonors giving and cultivating a new crop of major bankrollers.
“There’s no next generation of financial leadership on the bench,” said one Republican strategist involved in raising large contributions, who requested anonymity in order to speak candidly.
And some donors and party fundraisers say it’s time for the Republican Party to broaden its donor base beyond the super-rich and move away from a fundraising model that requires a lot of personal contact. Many point to the success Democrats have had raising money online.