Sheldon Adelson, CEO of the Las Vegas Sands Corporation, the successful owner of casinos in the world, and the owner of Israeli daily newspaper Israel Hayom and the Las Vegas Review-Journal. In August 2020, his net worth was estimated to be $29.8 billion. He also owns the Marina Bay Sands in Singapore.
Life & Career
Sheldon was born as a child of the Great Depression, grew in a low-income family of immigrants. Born on August 4, 1933, Adelson was a hard worker but faced many difficulties to keep his job. In the 1970s, Sheldon meets his wife, Sandra. But the circumstances changed after adopting three children but got divorced in 1988.
In 1979 that Adelson got his first entrepreneurial adventure breakthrough creating COMDEX (Computer Dealers Exhibition). In 1995, Adelson sold COMDEX, a computer software shows to Softbank for some $862 million. The show lasted for many years and expanded to many cities, finally concluding in 2003.
In 1988, Adelson soon became an investor in his first casino by purchasing aging Sands Casino at quite of the bargain. The casino got demolished, and a new casino named "Venetian Casino" was constructed.
With the success of COMDEX, Adelson bought various hotels and casinos in Las Vegas and around the globe. Adelson operates through casinos, hotels, and conventions spread across the US, Singapore, Middle-east, and Macau.
The first casino constructed is now just one of many facilities that are part of the largest integrated resort in the world. In 1991, Sheldon meet his second wife, Miriam, who was a physician by profession. Soon, Adelson becomes one of the two Americans to receive permission from the Chinese Government to expand his casino empire in Macau.
In 2010, Adelson constructed a massive $5.7 billion casino complex with a Sky Park in Singapore. Despite building a vast casino empire, Adelson has his eyes set on Japan- after the Japanese Government legalized casino gambling.
Adelson's life was never free from accusations and charges, while most of his income has been made through casinos.
Adelson although living in the shade of corruption and accusations, never led his philanthropic character to fade away. He played a significant role in providing support and enhance charitable foundations & museums.
Sheldon and his wife Miriam donated dozens of millions of dollars to various organizations. Adelson contributed $2.5 million for the inaugural of GW Bush in 2004. In 2010, he donated $1 million to American solutions and $10 million to Gingrich's campaign in 2012.
The couple also donated Birthright Israel, the Holocaust Martyr's and Heroes' Remembrance Authority, and the Museum of Holocaust Art. In 2007, Adelson became a member of the Board of directors of the US Holocaust Museum in Washington, D.C.
On January 11, 2021, at the age of 87, Adelson died. He owned more than half of the $14 billion(sales) gambling empire, which includes casinos in Las Vegas, Singapore, and Macao, China.