Sheldon Adelson Net Worth, Money and More
NET WORTH: $ 35 billion
PROFESSION: American businessman
INTRODUCTION
Sheldon Gary Adelson is a well- known American Business tycoon. He is not only a property developer, but is also the Chairman and Chief Executive Officer of a public company, Las Vegas Sands Corp. in Las Vegas. His company owns “The Sands Expo and Convention Center” and “The Venetian Resort Hotel Casino”. His story of not- so- sudden- success is quite compelling for people to peep into his life. You can say that he is the right example of an American Dream you people might have heard. Born in a poor family, he is now the fifth richest man in America and the ninth richest man in the world. He has seen many failures in his life and he is a self- made billionaire who through his determination and hard work has made his position in the list of billionaires.
EARLY LIFE
Adelson was born on 4th August in the year 1933 in Dorchester, Boston. His father was an immigrant taxi driver who was of the Jewish origin. He was born and lived in a very poor neighbourhood. To support his poor family, Sheldon in his childhood days used to work as a paperboy by purchasing a licence for selling newspaper. When he was sixteen he had his own candy- vending- machine. He went to the City College of New York, but soon dropped out. Before joining the army, he went to trade school in order to become a court reporter. After completing his obligations in the army, he worked as an investment advisor and mortgage broker. He has worked in fifty different businesses and became a millionaire. He made and lost fortune twice over his business course. But the setbacks didn’t let him down from opening new business.
FROM A PAPERBOY TO A BILLIONAIRE
By investing in the Wall Street he soon earned a fortune of 5 million dollars by the time he was thirty five years old. In 1973 finally his life changed when Sheldon with his partners started a computer trade show, COMDEX. He also had a condo business and a publishing company which he gave up to work fully for his computer trade show. Finally, in 1979 he launched his show at the MGM Grand Hotel and this launch became his golden ticket to a lavish lifestyle. Over the years, his trade show became colossus for the computer world and it made 20 million US dollar a year. Later in 1995 they gave away Interface Show Division for $862 million in which Adelson’s share was around 500 million US dollar. Previously in the year 1988 he along with his partner bought the Sands Hotel and Casino. Consequently they made the Sands Expo and Conventional center. This conventional center at that time was the only one conventional center which was privately owned in the entire U.S. since then he and his partners have purchased and constructed many hotels and property to enlarge their business.
HIS MONEY
Though he was not born seeing the richness and wealth around him but he has managed to taste the richness with his hard work. He owns 52.3% shares of the largest casino company in the world, Las Vegas Sands corp. and through this company he has made a net worth of 35 billion US dollar. The annual revenue of this company is around 11 billion US dollars. He owns a travel company, private jet and the infamous Sands and Hotel Casino. He bought Sands and Casino hotel for 128 million US dollars. After selling out his known trade show for which he got half a million he built the Venetian Resort Hotel and Casino and he dropped all his partnerships. Adelson also has his shares in the casino resort in Bethlehem in Pennsylvania. He owns 69% stock in the Macau casino, Sands Macao which was opened in the year 2004. He also has partnership in a casino resort, Marina Bay Sands which was opened in the year 2010 at a price of $5.5 billion. He also has his own Israeli newspaper, Israel Ha Yom.
PERSONAL LIFE AND CONTROVERSIES
Adelson is married twice; his first wife was Sandra whom he divorced in the year 1988 and his second wife is Miriam. Sandra and Adelson adopted three children, Gray, Mitchell and Shelley. After his divorce Adelson met Miriam on a blind date and they finally decided to get married in the year 1991.
Adelson has always been in the news for various controversies; the most famous among them is the suspected phone conversation he had with his friend Tom De Lay. Tom De Ley was the House Majority Leader at that time. Adelson is accused of having a role in a bill that was shot down in the house.
HIS WORDS
Adelson has a very clever and sharp mind of a successful businessman and an entrepreneur. His words can motivate people who have seen failures in their life.
- For me, businesses are like buses. You stand on a corner and you don’t like where the first bus is going? Wait ten minutes and take another. Don’t like that one? They’ll just keep coming. There’s no end to buses or businesses.
- Just do things different.
- The name of my game is to eat his lunch.
- Why do I need succession planning? I’m very alert, I’m very vibrant. I have no intention to retire.
