Conservative billionaire Sheldon Adelson could donate up to $100 million to the Republican party in this election cycle, according to reports. Adelson recently donated $10 million to the Restore Our Future Super PAC, which supports Mitt Romney. The Nevada billionaire is now Romney's top financial supporter.

Adelson is expected to continue donating to several conservative groups including the Koch brothers' Crossroads GPS. Sources say Adelson, who is the seventh richest person in America at a net worth of $25 billion, is determined to prevent the President's re-election.

"He wants to beat Barack Obama," said a friend of Adelson, according to CNN.

"The race is on," the friend added. "He will do everything he can."