Sheldon Adelson Net Worth: Casino Empire & Lifestyle

An American investor, businessman, philanthropist, and political donor Sheldon Gary Adelson aka Sheldon Adelson had a net worth of a staggering $40 billion when he took his last breath.

Born to Jewish parents, father Arthur Adelson and mother Sarah, business tycoon Adelson grew up in the Dorchester neighborhood of Boston.

Just like any rags to riches story, Adelson began his career in the business world with just a small amount of capital at the age of 12.

He was a serial entrepreneur with more than 50 businesses under his belt.

Adelson was listed by Forbes in their list of richest people in the world several times.

In fact, he was the 28th richest person in the world in 2020 and was featured at number 19th in the Forbes 400.

Sheldon Adelson | Quick Facts

Sheldon Adelson Net Worth & Income

Sheldon Adelson’s Net Worth

An American billionaire business tycoon Sheldon Adelson had a net worth of a whopping $40 billion in 2021, at the time of his death.

Adelson earned a gigantic fortune as the CEO and majority owner of the casino company called Las Vegas Sands.

Despite the fact that the man entered the casino and gambling scene at the age of 55 when the majority of people retire, with his business techniques and skills, he was able to cement his name in the industry.

Aforementioned, he owned not less than 50 businesses; however, it was not until he co-founded a computer trade show, COMDEX he hit the jackpot.

He founded COMDEX in 1979 along with four of his partners.

Sheldon Adelson’s Income

Sheldon literally has one of those rags to riches stories, but he had stated that his family was poor to the point that they could not even afford rags.

And the man died as one of the richest people in the world, how cool is that?

Mr. Adelson purchased Sands Hotel and Casino in Las Vegas in 1988 for a staggering $110 million if adjusted inflation is the same as $240.71 million today.

Las Vegas Sands went public in 2004, which resulted in Sheldon Adelson’s net worth growing by a million dollars each hour, even on weekends, holidays, and nights.

The million-dollar an hour growth made it all the way to $30 billion. However, it was hit hard by the 2008 financial crisis.

The crisis hit Adelson’s fortune pretty good which sunk back to $2 billion in 2009.

However, the business took its momentum over time, and in 2011 Sheldon was listed by Forbes as having a fortune of a staggering $23 billion. He also became the 16th richest man in the world at the time.

Similarly, in 2020 Sheldon Adelson’s net worth was $33.5 billion, making him the 28th richest man on the planet. He was also listed 19th on the list of Forbes 400.

Sheldon Adelson’s Net Worth in Different Currencies

Here is Sheldon Adelson’s net worth in some of the major currencies around the world.

Read about The 30 Richest Men in the World

Sheldon Adelson | Houses, Cars, Private Jets & Yachts

Houses

As one might expect, Mr. Adelson had a significant real estate portfolio.

Sheldon had one property in Malibu initially, and he was happy with it, but around 2013, he started buying the neighboring properties.

He even purchased two homes owned by soap opera creator Lee Phillip Bell for $13.3 million.

Over the next few years, the property acquiring process continued, with Adelson reportedly spending a staggering $90 million.

In 2020 news surfaced online that Sheldon acquired the ninth home in the neighborhood for $16.9 million.

Though Mr. Adelson was obsessed with buying properties around Malibu, he also maintained a considerable portfolio in Las Vegas, Nevada.

Nonetheless, his primary residence was also the largest private residence in Clark County, Nevada, which spread over 44,000 square feet with a waterpark in the backyard.

Cars, Private Jets & Yachts

Cars for Mr. Adelson were just for short trips. Given his gigantic fortune, he always traveled in style in one of his numerous private jets and yachts.

For shorter trips, the businessman was chauffeured around in a Mercedes-Benz Maybach limousine.

His company housed a fleet of jets, including six Gulfstream G550, three Gulfstream IV SPs, shorthand Boeing Business Jets, five Boeing BBJs, two Boeing 737s, a Boeing 767ER, a Boeing 747SP, and the Airbus.

Apart from air, Sheldon frequently traveled in water and, believe me, in style.

His motor yacht Queen Miri was named after his beloved wife. The yacht is worth a whopping $70 million.

Sheldon Adelson | Lifestyle

Sheldon lived a lavish lifestyle and died as one of the richest men in the world.

Adelson loved his family and often spent time with them.

He married his first wife Sandra during the 1970s and also adopted her three kids from her previous marriage.

However, the marriage was short-lived, and the two got divorced in 1988.

Nonetheless, Sheldon married a doctor Miriam Farbstein in 1991. Together they had two children.

Around 2001 Adelson’s body began showing its age as he was diagnosed with peripheral neuropathy (a condition that affects peripheral nerves of the spinal column and brain).

Consequently, his ability to walk and stand for long periods of time deteriorated.

Similarly, he also was diagnosed with non-Hodgkin’s lymphoma (type of blood cancer) and began receiving treatment in 2019.

However, despite his health issues, he continued to act as CEO of the Sands Company until his death in 2021.

He was 87 years at the time of his death on 11th January 2021. It was reported that the non-Hodgkin’s lymphoma took his life, and the world lost one of the most avid businessmen.

Read About Sergey Brin’s Net Worth, Business, Google, Career & Lifestyle

Sheldon Adelson | Charity & Political Donations

Charity

Throughout his life, Sheldon Adelson donated hundreds of millions of dollars to various charitable organizations.

In 2007 Adelson, along with his doctor wife, established The Adelson Family Foundation with the main aim to strengthen the State of Israel and the Jewish people.

Since its inception, the foundation has contributed a whopping $140 million to Birthright Israel, a nonprofit that finances Jewish youth trips to Israel.

Similarly, in 2014 the philanthropist donated $5 million to the Friends of the Israel Defense Forces.

Likewise, he donated $25 million to The Adelson Educational Campus, $25 million to Yad Vashem Holocaust Martyrs’ & Heroes Remembrance Authority in 2006.

Political Donations

Aside from his generous charitable grants and donations, Adelson has also donated a huge sum of money to political parties, Republicans particularly.

He donated $92 million to campaigns and Super PACs that supported Republicans in 2004.

Similarly, Adelson, along with his wife, donated $82 million to Republicans in the year 2016 and another $123 million in 2018 during their midterm elections.

Moreover, Adelson donated $173 million to the Republicans in the 2020 election cycle, which was enough to make him the largest political donor on the planet.

All in all, from 2010 to 2020, Adelson donated $500 million to Republican Party as per federal records.

You might also be interested in Charles Koch Net Worth: Books & Career

Sheldon Adelson | Businesses

Sheldon Adelson borrowed $200 from his uncle at the age of 12 to start a business. If adjusted inflation, the $200 back then is about $2,875 today.

He purchased the license to sell newspapers with the money in Boston.

Similarly, he borrowed $10,000 at the age of 15 and started a candy vending machine business.

The aforementioned Adelson co-founded the biggest computer trade shows in the world.

Similarly, Adelson, along with his partners, purchased Sands hotel and Casino for $128 million in 1989 in Las Vegas.

They planned to build their own convention space for their trade show business, COMDEX, so that they don’t have to rent it from others.

Adelson sold the business in 1995 to SoftBank Corporation for a massive $862 million, out of which Adelson’s cut was $500 million.

With his cut of $500 million and $1.5 billion bank line of credit, Sheldon proceeded to spend $1.5 billion building Venetian Resort Hotel Casino.

Sheldon became a billionaire when Sands Hotel and Casino went public in 2004.

Moreover, Adelson acquired a casino in Macau in 2007 for $265 million. He spent an additional $2.4 billion to construct a 39-story hotel/casino, which became the seventh-largest building.

After that, he went on expanding his business empire with a number of casinos, convention centers, and other projects all over the world.

Furthermore, in 2006 Las Vegas Sands was awarded a license to construct a casino resort in Singapore. Marina Bay Sands opened up in 2010 with a rumored cost of $5.5 billion.

Sheldon Adelson, a prominent figure in the casino and entertainment industry, left an indelible mark with his ventures. Among the myriad games that contributed to his financial legacy, the Plinko casino game stands out as one that reaped remarkable returns. With its enticing blend of chance and entertainment, the Plinko game captured the imagination of casino-goers and proved to be a goldmine for Adelson’s establishments. Its unique combination of anticipation and surprise struck a chord with players, leading to substantial revenues. This game, with its cascading tokens and unpredictable trajectories, not only added an extra layer of excitement to his casinos but also showcased Adelson’s astute understanding of what resonated with the public. As a result, the Plinko casino game remains emblematic of Adelson’s business acumen and his ability to turn innovative concepts into substantial financial successes.

LVS is the largest casino operator in the world, with annual revenue of $14 billion. Adelson controlled 54% of the company as of 2020.

Sheldon Adelson | Career

Sheldon Adelson was raised in a poor family. The family had a two-room flat where parents slept on a mattress and the children on the floor.

To support his family, Adelson dropped out of college and joined the army.

Afterward, Sheldon Adelson engaged himself in business, gradually increasing his net worth. He became a millionaire in his 60s.

Nonetheless, due to some circumstances, he lost his wealth twice and had to make it all back again.

Some of his early businesses included selling magazine ads, windshield de-icers, mortgages, and even toiletries.

With his inexplicable booming business career, Sheldon was able to amass a massive fortune.

Unfortunately, the man synonymous to gambling and casino made his demise in 2021 at the age of 87.

Unknown Facts About Sheldon Adelson

• The casino magnate was never into gambling himself.
• He never used email, and texts let alone computers.
• Sheldon met his second wife on a blind date in 1989.
• In 2007 Sheldon Adelson gave a cash gift of $1 billion to his wife, Miriam Adelson.

FAQs

Who owned half of Las Vegas?

The answer is pretty obvious. Sheldon Adelson owned more than $14 billion (sales) gambling empire.

Who is the richest person in Las Vegas?

After Sheldon made his demise, his wife Miriam Adelson sits on the throne of the casino empire and is the current richest person in Vegas.

Which is the most expensive casino in the world?

City Center Las Vegas, worth $9 billion is the most expensive casino in the world. After that comes Marina Bay Sands, worth about $5.36 billion owned by none other than Sheldon Adelson.

Read About Ralph Lauren’s Net Worth, Business Empire, Career & Lifestyle

ncG1vNJzZmivlZa5tbTYqZyeqKNjsLC5jqyfnqSUpLturcOeo6ynnmK7psCMsKarrJhk