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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 Biography: Success Story of an American Entrepreneur. (). Astrum People website. Retrieved , from https://astrumpeople.com/sheldon-adelson-biography/.
Harvard Style
Sheldon Adelson Biography: Success Story of an American Entrepreneur. [Internet]. . Astrum People website. Available from: https://astrumpeople.com/sheldon-adelson-biography/. [Accessed ].
MLA Style
'Sheldon Adelson Biography: Success Story of an American Entrepreneur.' Astrum People, (). Web. .