Chairman and CEO of Las Vegas Sands, Sheldon Adelson net worth is $37.3 billion. Adelson owns many casino resorts in the United States and around the world.
When it comes to casino moguls, no one is bigger and badder than Sheldon Adelson. As the Chairman and CEO of Las Vegas Sands, this guy on average earns $32 million each day from his booming business ventures. Aside from his casino empire that spans from the United States to Asia, Adelson is a political activist, philanthropist, and owner of an Israeli newspaper, Israel HaYom. Worth $37.3 billion, Adelson ranks #9 on Forbes Magazines’ 10 Richest in the World.
This self-made billionaire comes from humble beginnings in the Dorchestor neighborhood of Boston, Massachusetts. His father drove a taxi while his mother ran a knitting shop. Sheldon Adelson started out his business career at age 12 when he purchased a license to sell newspapers. By age 16, he opened a candy vending machine business. Eventually, he joined the army and later attended City College of New York before dropping out. After his discharge from the army, Adelson made money selling toiletry kits. He went on to open over 50 businesses, and he became a millionaire by his 30s.
His entrance into the casino industry started out in 1988, when Adelson and his partners purchased the Sands Hotel and Casino in Las Vegas, a former hangout for guys like Frank Sinatra and Dean Martin. Today his company, Las Vegas Sands is worth more than all other United States casino companies combined.
Adelson's Casino Empire
While on his honeymoon in Venice, Italy in 1991, Adelson came up with the idea to create a mega resort based on the Italian canal city. Subsequently, he spent $1.5 billion to construct the Venetian Las Vegas, a Venice themed luxury casino and hotel resort. The hotel tower contains 36 stories, rising 475 feet (145 m). The Venetian’s architecture features replicas of famous landmarks in Venice, Italy complete with gondola boats and canals. In addition to the Venetian, Adelson also owns the Palazzo Casino Resort and Sands Expo and Convention Center in Las Vegas. He later opened the Sands Casino in Bethlehem, Pennsylvania before setting his sights on the burgeoning casino industry in Asia.
While on his honeymoon in Venice, Sheldon Adelson had the inspiration to build the Venetian Las Vegas, a replica of the Italian canal city.
In August 2007, Adelson broke records with the construction of the world’s largest casino and 6th largest building in the world by floor area, the Venetian Macao Casino Resort. Located on the Cotai Strip in Macau, China, the $2.4 billion, 40 story resort includes 7 hotels, 3000 suites, 3,400 slot machines, and 800 gaming tables.
Adelson continues to invest billions in Asia’s growing gambling industry. He opened a second casino in Macau called the Sands Macao in 2004. Then in May 2006, Adelson opened the Marina Bay Casino in Singapore. Adelson publicly announced that he would be willing to invest $10 billion in construction a casino in Japan, should the country legalize the industry. Read more about Adelson's plans for the casino industry in Japan.
Sheldon Adelson’s astounding Marina Bay Sands Casino features an infinity swimming pool on its roof overlooking the city.
Today the Las Vegas Sands Corp owns the following casino resorts and hotels:
- The Venetian Casino Resort and Hotel in Las Vegas, NV
- The Palazzo Casino Resort and Hotel in Las Vegas, NV
- Sands Expo and Convention Center in Las Vegas, NV
- Sands Casino Resort in Bethlehem, PA
- Sands Macao in Macau, China
- The Venetian Macao Casino Resort in Macau, China
- Sands Cotai Central in Macau, China
- The Marina Bay Sands in Singapore
Adelson Speaks Out
Sheldon Adelson has also made quite a name for himself in the American political arena. As a major contributor to the Republican Party, he has substantial influence within United States politics. Recently, Adelson has made headlines as an outspoken opponent against the online gaming industry. He argues that the online casino industry threatens jobs for those working in land casinos and encourages problem gambling.
Read more about Adelson’s political activity as an outspoken opponent of online gambling.
