If you’ve had the pleasure of visiting the land-based casinos in Las Vegas or Bethleham, PA, then you’ve experienced the grandeur of Sheldon Adelson’s casino empire.
Adelson, along with his Sands Corporation, managed and oversaw the operations of The Venetian and the Sands Expo and Convention Center located in Las Vegas, as well as Sands Hotels and Casinos situated in Reno and Bethleham, PA. Additionally, his company holds ownership of Marina Bay Sands, an establishment situated in Singapore.
On January 11, 2021, the wealthy casino mogul passed away at his residence in Malibu, California.
Adelson’s Life
Adelson was well-acquainted with financial fluctuations. He came from a humble background, born into near poverty and began his career by selling newspapers in Boston.
After serving in the U.S. Army, Adelson embarked on a journey to accumulate his initial wealth by becoming a partner for the computer industry trade shows known as COMDEX, which took place from the 1980s to the 1990s.
According to the Bloomberg Billionaires Index, Adelson reached the pinnacle of his wealth in 2014, ranking as the eighth or ninth richest individual with an estimated fortune of $40.8 billion.
Adelson maintained his membership in the billionaire club during the 2000s; however, his financial worth experienced significant fluctuations. One notable instance was the period between 2014 and 2016 when he lost half of his fortune.
At the age of 87, Adelson passed away due to complications arising from non-Hodgkin’s lymphoma.
Adelson and Casinos
Sheldon Adelson, the chairman and CEO of Las Vegas Sands Corporation, held the position overseeing the company’s ownership of Marina Bay Sands in Singapore, as well as the operation of The Venetian Las Vegas and the Sands Expo and Convention Center through Venetian Macao Ltd.
Despite being a dedicated Republican, Adelson actively opposed the existence of online casinos and made efforts to collaborate with politicians from both parties in order to hinder the progress of legalizing them.
Adelson’s Involvement in Politics
Adelson earned the nickname “Kingmaker” for his significant contributions to the Republican party, which made him a major donor to their candidates.
After the Supreme Court’s favorable ruling for Citizens United in 2010, Adelson generously contributed a significant sum to the Republican party’s funds. In fact, he held the distinction of being the most substantial individual donor during the 2012 elections.
Adelson’s contribution of $25 million made him the top donor to Trump’s initial presidential campaign.
