I would imagine he has a lot of support from his fellow Mormons, many of whom are wealthy. It makes sense.
And I would imagine that you are correct in your assessment. Plenty of wealthy Mormons have given and will give him oodles of cash, but he will never occupy the White House. His connection to the church of Joseph (presidential campaign of 1844) and Brigham (first governor of Utah) will be more than enough to sink him. Even if the republicans were deluded enough to nominate him, the general election would be a wipe out.