Net worth over time. The next move can't be smaller than the last. Sheldon Adelson—Casino Magnate And Major GOP Donor—Dead At 87.

1. Miriam Adelson (Sheldon Adelson’s Wife) Bio, Age, Husband, Family, Children, Net Worth Miriam Adelson Biography.
2. Sheldon Gary Adelson is the founder of Adelson Foundation. He is an American philanthropist, investor and business icon besides being the chairman and CEO of the company, Las Vegas Sands.

Sheldon Adelson

In this success story, we are going to share Sheldon Adelson biography, an American entrepreneur, investor, and philanthropist. He is one of the most successful casino owners in the world. Sheldon Adelson is the CEO of the Las Vegas Sands Corporation. As of January 2018, Adelson’s net worth is estimated to $40 billion. He is also the owner of the Marina Bay Sands in Singapore. Sheldon Adelson also owns the Israeli daily newspaper Israel Hayom and the Las Vegas Review-Journal.

Life and Career

Born a child of the Great Depression, Sheldon Gary Adelson (born August 04, 1933) grew up in a low-income family of immigrants. A hard worker, Adelson had difficulty keeping a job during his early adult years. In the 1970s, Adelson met his first wife, Sandra. They adopted three children and got divorced in 1988. It was not until 1979 that Adelson officially had his first big break. Creating COMDEX (Computer Dealers Exhibition) was Adelson’s first entrepreneurial adventure becoming the top computer trade show. The show expanded to other cities and lasted for many years finally concluding in 2003.

1988 saw Adelson become an investor in his first casino by purchasing the aging Sands Casino at quite a bargain. It was eventually demolished, and in its place, the Venetian Casino was constructed. This first casino is now just one of many facilities that are part of the largest integrated resort in the world. In 1991, Sheldon met his second wife, Miriam, who was an Israeli-born physician specializing in drug abuse treatment. Four years later, Adelson was one of only two American to receive a license from the Chinese government to expand his casino empire into Macau. In 2010, Adelson opened a massive $5.7 billion casino complex in Singapore. Part of this is the impressive Sky Park which is multiple stories above the city.

Marina Bay Sands is the the most expensive standalone casino property in the world valued to $5.7 billion.

Despite having developed a vast casino empire, Adelson is not satisfied and currently has his sights set on Japan now that that nation has legalized casino gambling. Still waiting to obtain operating rights, Adelson is planning to erect a casino resort complex costing more than $10 billion.

Will these be the final jewel in Adelson’s crown or will there be plans to establish even more casinos or will there be a chance of moving into the continually evolving online platform?

Philanthropic Activity

Sheldon and his wife Miriam have donated dozens of millions of dollars to various organizations. The couple has also donated to the Birthright Israel, the Holocaust Martyrs’ and Heroes’ Remembrance Authority, and the Museum of Holocaust Art. Sheldon Adelson is a member of the board of directors of the United States Holocaust Memorial Museum in Washington, D.C. Sheldon Adelson founded the Adelson Family Charitable Trust in 2007. The trust is expected to donate $200 million to Israeli and Jewish causes.

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Sheldon Adelson is an American billionaire businessman, investor, and casino magnate. He is presently the CEO and chairman of Las Vegas Sands Corporation. Its subsidiary, Venetian Macao Limited, runs the Sands Expo and Convention Center and the Venetian Resort Hotel Casino. As of July 2014, Forbes had estimated Adelson’s net worth to be around $36 to $37 billion, thereby making him the 10^th richest man in the world.

Adelson began showing his entrepreneurial skills from a very young age. He set up a number of successful business ventures before launching the very profitable COMDEX computer trade show in the 1970s. He then ventured into the casino resorts business in Las Vegas and eventually Asia, which is what made him the billionaire that he is today. Adelson is a supporter of the Republican Party in the US and donates generously to their candidates.

Sheldon Adelson Net Worth Forbes

The Life and Career of Sheldon Adelson

The life story of Sheldon Gary Adelson is a classic rags to riches one. He was born on Aug. 4, 1933, in Boston, Massachusetts. His parents were Ukrainian Jews who lived in the poor Dorchester neighborhood; his father was a taxicab driver and an ads salesman, while mother managed a knitting shop.

When Sheldon was only 12 years old, he began working by vending newspapers. He later set up his own business of toiletries. He enrolled in City College of New York in the early 50s with corporate finance as his major. He however dropped out within 2 years. He then joined the army and worked on Wall Street as a court stenographer. This is where he began dreaming about making his billions. After getting discharged from the army, he worked as an investment advisor and mortgage broker. He soon became a millionaire. He returned to Boston in the early 60s and began investing in numerous companies, including a tours and travel firm called The American International Travel Service. These investments reaped profits. However, the decline of the stock market in the late 60s soured his success.

In the early 70s, Adelson came back with a bang via his business of real estate brokerage in Boston. He organized condominium conversions and made lots of profits till the market for condos faded away. Later, while searching for new profitable business ventures, Adelson came across a firm that published magazines, including a computer magazine called Data Communications User. He subsequently purchased the company. During this time he attended a condo trade convention. He came to know that the producer of the convention was a publisher of a condo magazine. Adelson realized that similar concepts could be applied for the computer business as well and subsequently launched a trade show for computers.

Adelson held his first computer trade show in 1973. It was a moderate success. He realized the potential of this business; hence he sold of his holdings in the publishing company and the condo business and used the money to start the Interface Group which focused on computer trade shows. The firm experienced slow growth in the initial years. This was the time when he became acquainted with his first wife, Sandra. The couple adopted 3 children, but got divorced in 1988.

Adelson launched COMDEX or Computer Dealers Expo in 1979 and the show was held in Las Vegas, at the MGM Grand Hotel. It was perfect timing as computer brands like Apple, IBM, and Microsoft started growing rapidly and the PC industry was on the verge of a boom. Adelson’s COMDEX show helped these computer companies to showcase their products to other companies as well as consumers. Within a span of 6 years, COMDEX became the biggest trade show in the ‘Sin City’ and had garnered $20 million in profits. By 1990, the Interface Group had grossed over $250 million and launched COMDEX shows outside the US.

The Casino Business: In the 80s, Adelson’s company started searching for hotels that could accommodate the needs of their travel companies and their numerous private aircrafts. Adelson eventually bought the iconic Sands Casino in 1988 for $128 million. He then redesigned the place to suit the needs of his business. He constructed a shopping mall, a resort, and a convention center for COMDEX and other events of his company. The new casino resort was renamed as Sands Casino and Convention Center.

Adelson met his second wife Miriam, an Israeli-born doctor, in the late 80s and they married in 1991. She had 2 daughters from her previous marriage. While honeymooning with Miriam in Venice, Adelson envisioned a huge Venice-themed hotel-resort. Subsequently, he sold COMDEX in 1995 for $860 million and Adelson got $500 million. Adelson then shelved his partnerships at Interface and started planning the construction of his $1.5 billion dream projects, The Venetian Resort Hotel Casino and the Sands Expo and Convention Center. The construction phase was riddled with contractual and legal battles with contractors and unions. The resort-hotel finally opened in 1999. It was an instant success.

Shelly Adelson Net Worth

In 2001, after the end of gambling monopoly in the Chinese island of Macau, Adelson started focusing all his energy into opening another Venetian resort-casino in Macau. Macau was the biggest gambling market in Asia and garnered revenues that were 4 times that of Las Vegas. The Sands Macau subsequently launched in May 2004. Later in 2006, after a fierce contest, Adelson won the license to build a resort-casino in Marina Bay, Singapore. Adelson then spent a reported $5.5 billion to construct the magnificent Marina Bay Sands Hotel and Casino. It opened in 2010.

Political Funding: Adelson began donating to political candidates in the 2000s. He was originally a supporter of the Democratic Party, but as he became wealthier, he switched loyalties to the Republican Party. Adelson has supported varied political advocacy groups. He supported and funded Newt Gingrich and then Mitt Romney in the 2012 US Presidential elections.

Philanthropy: Over the years, Adelson has donated to numerous charities. He set up the Adelson Family Charitable Trust in 2007. It gave $140 million to ‘Birthright Israel,’ foundation and has pledged to donate nearly $200 million to varied Israeli and Jewish causes. In 2014, Adelson donated $5 million to Friends of the Israel Defense Forces.