How much is Sheldon Adelson’s net worth?
| net worth: | $40 billion |
|---|---|
| Birth: | August 4, 1933 |
| dead: | 11 January 2021 |
| country of origin: | United States of america |
| Sources of funds: | entrepreneur |
| Last Updated: | January 1, 2024 |
Sheldon Adelson had a net worth of approximately $40 billion, making him one of the richest businessmen in the world.
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Sheldon Gary Adelson was an American investor, businessman, and philanthropist from Boston.
Adelson first gained recognition when he developed the computer trade show COMDEX in 1970.
He was also the founder and chief executive officer of the Las Vegas Sands Corporation and Marina Bay Sands in Singapore.
He has inspired many people with his amazing work as an entrepreneur and investor.
early life
Sheldon Gary Adelson was born on August 4, 1933 in Boston, Massachusetts.
Adelson was born in Dorchester to a low-income family. He is the son of Arthur and Sarah Adelson.
His mother ran a knitting shop and his father was a taxi driver.
Adelson began his early career at the age of 12 when he borrowed money from his uncle to obtain a license to sell newspapers in Boston.
Adelson studied at the City College of New York but later dropped out as he wanted to focus on his career as an entrepreneur.
Livelihood
Sheldon Adelson started his business with a loan of $200 from his uncle when he was just 12 years old.
With this loan Sheldon purchased a license to sell newspapers in Boston, giving him the opportunity to learn how to run a business.
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In 1948, when he was 15, he borrowed ten thousand dollars from his uncle to start his own vending machine candy business.
He then attended the City College of New York but was unable to graduate, and then enrolled in trade school to become a court reporter.
Eventually, he joined the Army, but after being discharged, he once again focused his attention on business, this time selling toiletry kits.
Shortly afterward he started another business, De-Ice-It, which sold a chemical spray to remove ice from cars in the winter.
Earn your first millions
In the early 1960s, Sheldon Adelson started a chartered tour business and quickly became a millionaire because of it.
Unfortunately, he had acquired this wealth by the age of 30, and subsequently lost it twice, though he clearly bounced back.
Adelson and his partners organized the COMDEX trade show for the growing computer industry in the 1970s and it was one of the largest trade shows into the 1990s.
In 1988, he purchased the Sands Hotel, a Las Vegas casino, for $110 million and built the Sands Expo Center the following year.
While on vacation in 1991, he was inspired to build a new hotel and spent $1.5 billion to demolish the Sands and build The Venetian.
As well as building one of the world’s most expensive hotels, Adelson also built a casino resort in Pennsylvania that opened in 2009.
Bring Las Vegas to the world
Not satisfied with leaving Vegas in Nevada, Adelson began a project to bring the Las Vegas Sands casino to Macau.
This resulted in the construction of the Sands Macao, which was China’s first Las Vegas-style casino when it opened in 2004.
In 2006, he opened the Venetian Macao resort on Cotai and planned to invest more than $12 billion in its construction.
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That same year, Las Vegas Sands was awarded a license to build Marina Bay Sands in Marina Bay, Singapore.
When the resort opened, it was the most expensive building in the world, costing more than Dubai’s Barq Khalifa.
Making even the world’s biggest homes look cheap, Marina Bay Sans cost $8 billion and has 2,500 luxury rooms.
Adelson’s Other Ventures
In 2015, Sheldon Adelson bought Las Vegas Review-Journal The newspaper will be published through News + Media Capital Group LLC.
Additionally, Adelson also became a major political donor due to his enormous wealth, which gave him the ability to support candidates.
He became a major supporter of Donald Trump, donating $25 million to his campaign in 2016 and $200 million to Trump and the GOP in 2020.
Sheldon Adelson also personally funded the Miriam and Sheldon G. Adelson Medical Research Foundation in Boston, Massachusetts.
Although he passed away in 2021, his family has continued his legacy and recently purchased the Dallas Mavericks from Mark Cuban.
The move is rumored to be a move to expand the Las Vegas Sands casino empire under the guidance of Miriam Adelson to Texas.
Sheldon Adelson Net Worth
At the time of his death, Sheldon Adelson’s net worth was estimated at $40 billion, making him one of the world’s richest investors and entrepreneurs.
Highlights
Here are some of the best highlights of Sheldon Adelson’s career:
- Comdex (1970)
- Sands Hotel and Casino (1988)
- The Venetian (1991)
- SoftBank Corporation (1995)
- Casino Resort (2000)
- The Venetian Macao (2007)
- Marina Bay Sands (2010)
Summary
Sheldon Adelson was one of the richest people in the world right before his passing.
Adelson collaborated with wealthy countries and governments around the world.
At the time of his death, Sheldon Alderson’s net worth was estimated at approximately $40 billion.
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Category: Net worth