'Self-funded' Donald Trump preparing to seek big-donor money

LAS VEGAS (AP) — The billionaire presidential candidate who prides himself on paying his own way and bashed his competition for relying on political donors now wants their money — and lots of it.

Donald Trump, the presumptive Republican presidential nominee, recently hired a national finance chairman, scheduled his first fundraiser and is on the cusp of signing a deal with the Republican Party that would enable him to solicit donations of more than $300,000 apiece from supporters.

To help raise the needed money, he tapped Steven Mnuchin, a New York investor with ties in Hollywood and Las Vegas but no political fundraising experience.

Trump's new national finance chairman said prospective donors are "coming out of the woodwork" and he's been fielding emails and phone calls from people he hasn't heard from in 20 years.

[...] his planned joint fundraising agreement with Republican officials also provides a direct route to his own campaign coffers.

For each large contribution, the first $2,700 or $5,400 goes to Trump's campaign, the next $33,400 goes to the Republican National Committee, similar amounts could go to national party accounts and the rest is divided evenly among various state parties the candidate selects.

Sheldon Adelson, a billionaire Las Vegas casino owner who was the largest donor of the 2012 presidential race, wrote in a Washington Post editorial this week that he endorses Trump and is urging "those who provide important financial backing" to do the same.

Doug Watts, former communications director for Ben Carson's 2016 bid, started a group called the Committee for American Sovereignty with an advisory board that include former Trump resorts executive Nicholas Ribis Sr. and longtime GOP donor Kenneth Abramowitz.