Sheldon Adelson, Billionaire Casino Owner, Dies
If you've enjoyed the land-based casinos in Las Vegas or Bethleham, PA, then you've seen Sheldon Adelson's casino empire.
Adelson and his Sands Corporation operated The Venetian and the Sands Expo and Convention Center in Las Vegas and Sands Hotels and Casinos in Reno and Bethleham, PA. His company also owns the Marina Bay Sands in Singapore.
The billionaire casino giant died on January 11, 2021 at his home in Malibu, California.
Adelson was no stranger to financial ups and downs. He was born in near poverty and first worked selling newspapers in Boston.
Following his service in the U.S. Army, Adelson gradually made his first riches as a partner for the COMDEX trade shows for the computer industry throughout the 1980-90s.
At his peak in 2014, Adelson was the eighth or ninth wealthiest person with an estimated wealth of $40.8 billion (according to Bloomberg Billionaires Index).
Throughout the 2000s, Adelson remained in the billionaire club. Still, his financial worth faced huge shifts up and down. For example, he had lost half his worth between 2014-2016.
Adelson died of complications of non-Hodgkin’s lymphoma. He was 87 years old.
Adelson and Casinos
Sheldon Adelson was chairman and C.E.O of Las Vegas Sands Corporation. The company owns the Marina Bay Sands (in Singapore) and operates The Venetian Las Vegas and the Sands Expo and Convention Center (through Venetian Macao Ltd.)
Adelson was an avid opponent of online casinos. While politically he was a staunch Republican, he courted politicians from both parties to try to stop the momentum to legalize online casinos.
Adelson and Politics
Adelson was also a major contributor to the Republican party. Due to the size of his donations to candidates of choice, he was nicknamed the Kingmaker.
Particularly following the Supreme Court’s ruling in favor of Citizens United in 2010, Adelson gave a veritable treasure to the Republican coffers. He was, in fact, the largest individual donor in the 2012 elections.
Adelson was also the largest donor to Trump's first presidential campaign. He donated $25 million.
"Sheldon Adelson, Billionaire Donor to G.O.P. and Israel, Is Dead at 87": https://www.nytimes.com/2021/01/12/business/sheldon-adelson-dead.html
"Sheldon Adelson Says He Is 'Willing To Spend Whatever It Takes' To Stop Online Gambling" https://www.forbes.com/sites/nathanvardi/2013/11/22/sheldon-adelson-says-he-is-willing-to-spend-whatever-it-takes-to-stop-online-gambling/