Sheldon Adelson is big supporter of Donald Trump.  (Photo: Internet)

New York, September 30 (RHC)-- Billionaire Sheldon Adelson plans to spend up to $50 million to support Donald Trump for a second term as president.

Casino magnate Sheldon Adelson is planning a spending spree that could total up to $50 million to help Trump beat Biden, according to CNBC.  A source told CNBC that Adelson was currently in touch with Republican officials over where to best deploy the money, amid reports that Trump's war chest is lacking following a free-spending approach early in the campaign.

Meanwhile, billionaire Mike Bloomberg, the former mayor of New York City, has said that he would spend $100 million to help Joe Biden win Florida, a state considered essential to any path to victory for Trump.