Sheldon Adelson

$26.80 B

Ranked #28 in World

About Sheldon Adelson

Sheldon Adelson (1933-2021), an American magnate renowned for his business acumen and philanthropic endeavors, significantly influenced the global casino industry as the founder, chairman, and CEO of Las Vegas Sands Corporation. He was pivotal in establishing iconic properties such as Marina Bay Sands in Singapore and The Venetian in Macao. Beyond his casino empire, Adelson made hefty contributions to the Republican Party, aligning closely with figures like Donald Trump and Benjamin Netanyahu, and was a staunch supporter of Israel through his newspapers Israel Hayom and Makor Rishon, and the Adelson Foundation. Born in Boston to a Jewish family, Adelson's journey from selling newspapers at age 12 to amassing a net worth of $29.8 billion as per Forbes in 2020, reflects a remarkable legacy shaped by entrepreneurial spirit, political influence, and charitable endeavors. His death in 2021 marked the end of an era, leaving behind a complex legacy touched by controversy, philanthropy, and business innovation.

Born

August 04, 1933 in Boston, Massachusetts, U.S.

Died

January 11, 2021 (aged 87)

Source Of Wealth

Casinos

Industries

Gambling & Casinos

Citizenship

United States

Education

Drop Out, City College of New York

Spouse

Sandra Adelson (1970s-1988), Miriam Adelson (Married: 1991)

Children

Sheldon Adelson was born on August 4, 1933, in Dorchester, Boston, Massachusetts. He came from a Jewish background, with Ukrainian Jewish and Lithuanian Jewish ancestry. His father worked as a taxi driver, while his mother ran a knitting shop. Adelson's entrepreneurial spirit emerged early when he started his business career at the age of 12, borrowing money to sell newspapers. He attended City College of New York but did not graduate. After attending trade school, he served in the army.

Sheldon Adelson: Family

Adelson was married twice. His first marriage was to Sandra, with whom he adopted three children. In 1991, he married Miriam Farbstein Ochshorn, a medical doctor. Miriam Adelson founded a substance abuse center and research clinic in Tel Aviv and later opened a research clinic in Las Vegas.

Sheldon Adelson: Career Highlights

Adelson's career highlights include developing COMDEX trade shows for the computer industry in the late 1970s. He sold the Interface Group Show Division, including COMDEX shows, to SoftBank Group of Japan for $862 million in 1995. In the hospitality industry, Adelson purchased Sands Hotel and Casino in Las Vegas in 1988 and built Sands Expo and Convention Center, the only privately owned and operated convention center in the U.S. at the time. He opened The Venetian, a Venice-themed resort hotel and casino, in 1999. Adelson also led the project to bring Las Vegas Sands casinos to Macau, opening Sands Macao in 2004 and Venetian Macao Resort Hotel in 2007.

Sheldon Adelson: Companies

Adelson founded, chaired, and served as the CEO of Las Vegas Sands Corporation. He also owned Marina Bay Sands in Singapore and Venetian Macao Limited. In 2022, he sold Venetian Las Vegas and Sands Expo and Convention Center.

Sheldon Adelson: Major Achievements

Adelson's major achievements include establishing the Adelson Foundation in 2007, focusing on healthcare and support for Israel and Jewish people.

He was a significant contributor to Republican Party candidates, often referred to as a "kingmaker" due to the size and frequency of his donations. Adelson was the largest donor to Donald Trump's campaigns, including the 2016 presidential campaign, inauguration, defense fund, and 2020 campaign. He also backed Israeli Prime Minister Benjamin Netanyahu.

Sheldon Adelson: Awards & Achievements

Adelson received numerous awards and recognition for his contributions. He was presented with the Woodrow Wilson Award for Corporate Citizenship in 2008 and the Chairman's Award from the Nevada Policy Research Institute. CNBC named him one of the 200 people who transformed business over the last 25 years.

Sheldon Adelson: Personal Life & Legacy

Adelson's personal life included two marriages and the adoption of three children with his first wife. His second wife, Miriam Adelson, founded a substance abuse center and research clinic in Tel Aviv and later opened a research clinic in Las Vegas. Adelson's legacy includes his significant contributions to the Republican Party, his support for Israel, and his philanthropic efforts through the Adelson Foundation.

Sheldon Adelson: Trivia

Some interesting facts about Sheldon Adelson include his unsuccessful attempt to purchase Israeli newspaper Maariv in 2007, his launch of the free daily newspaper Israel Hayom in the same year, and his purchase of Las Vegas Review-Journal in 2015, initially keeping his involvement secret. Adelson advocated for a tougher U.S. policy on Iran's suspected nuclear weapons program and testified in court about a conversation with then-House Majority Leader Tom DeLay regarding a bill that could have prevented U.S. support for China's bid to host the 2008 Summer Olympics. He opposed cannabis legalization, considering it a gateway drug, and sought to transform the Israeli-American Council into a political lobbying group on Israel-related issues. Adelson also fought against internet-based gambling, despite its legalization and acceptance by many Las Vegas casino CEOs.

Wealth History

Timeline

August 4, 1933

Sheldon Adelson is born in Dorchester, Boston.

Late 1970s

Adelson develops COMDEX trade shows for the computer industry.

1988

Adelson purchases Sands Hotel and Casino in Las Vegas.

1995

Adelson sells Interface Group Show Division, including COMDEX shows, to SoftBank Group of Japan for $862 million.

1999

Adelson opens The Venetian, a Venice-themed resort hotel and casino, in Las Vegas.

2004

Adelson opens Sands Macao, China's first Las Vegas-style casino.

2006

Adelson is awarded a license to construct a casino resort in Marina Bay, Singapore.

2007

Adelson launches free daily newspaper Israel Hayom in Israel, which becomes the number-one daily newspaper in the country. He also establishes the Adelson Foundation, focusing on healthcare and support for Israel and Jewish people.

2008

Adelson is presented with the Woodrow Wilson Award for Corporate Citizenship.

2009

Adelson builds a casino resort in Bethlehem, Pennsylvania, which opens.

2010

Adelson opens Marina Bay Sands in Singapore, then the most expensive building in the world.

2011

Adelson is ranked as the world's 16th-richest man with a net worth of $23.3 billion.

2012

Adelson supports Newt Gingrich and Mitt Romney during the 2012 Republican Party presidential primaries.

2013

Adelson is recognized as Forbes' 'Biggest Winner' due to the success of his casinos in Macau and Singapore, adding $15 billion to his net worth.

2015

Adelson purchases Las Vegas Review-Journal, initially keeping his involvement secret.

2016

Adelson endorses Donald Trump for president and pledges significant financial support. He becomes the largest donor to Trump's presidential campaign and inaugural celebrations.

2019

Adelson undergoes treatment for non-Hodgkin's lymphoma.

January 11, 2021

Sheldon Adelson passes away at the age of 87 after long-term illnesses.

Sheldon Adelson : FAQs

What is Sheldon Adelson's net worth?

As of 2020, Sheldon Adelson's net worth was $26.80 billion.

What are Sheldon Adelson's main sources of wealth?

Sheldon Adelson's main source of income comes from Casinos.

In which industry does Sheldon Adelson primarily operate?

Sheldon Adelson is primarily involved in the Gambling & Casinos industry.

What is Sheldon Adelson educational background?

Sheldon Adelson is a dropout from City College of New York.

Is Sheldon Adelson dead?

Yes, Sheldon Adelson died on January 11, 2021 (aged 87).

How many children does Sheldon Adelson have?

Sheldon Adelson has 5 children.

Who was Sheldon Adelson and what was his role in the global business scene?

Sheldon Adelson was an American businessman, investor, political donor, and philanthropist, known as the founder, chairman, and CEO of Las Vegas Sands Corporation. He was instrumental in developing major casino resorts in Las Vegas, Macau, and Singapore, significantly impacting the global gaming and hospitality industry.

How did Sheldon Adelson contribute to political campaigns in the United States?

Sheldon Adelson was a major contributor to Republican Party candidates and conservative causes, known for being a "kingmaker" due to the size and frequency of his donations. He was the largest donor to Donald Trump's campaigns, including the 2016 presidential campaign and 2020 campaign, along with contributing to various Republican super PACs.

What were Sheldon Adelson's efforts towards media ownership?

Adelson owned several daily newspapers, including the Israeli daily newspapers Israel Hayom and Makor Rishon, and the American daily Las Vegas Review-Journal. He used his media assets to advocate for his political and social views, notably supporting conservative causes and Israeli interests.

What were Sheldon Adelson's major business ventures and their impact?

Adelson’s major business ventures included founding the Las Vegas Sands Corporation, through which he developed notable properties such as The Venetian and the Palazzo in Las Vegas, and the Marina Bay Sands in Singapore. These ventures helped transform Las Vegas and Macau into leading global destinations for entertainment and gambling, and established Singapore's first casino resort, significantly impacting tourism in these regions.

What philanthropic efforts was Sheldon Adelson known for?

Sheldon Adelson and his wife established the Adelson Foundation in 2007, focusing on healthcare, Jewish causes, and support for Israel. He made substantial donations to organizations such as Birthright Israel and Friends of the Israel Defense Forces, as well as contributing to educational institutions, demonstrating his commitment to philanthropy and support for Jewish communities worldwide.