![]() ![]() In August 2007, Adelson opened the $2.4 billion Venetian Macao Resort Hotel on Cotai and announced that he planned to create a massive, concentrated resort area he called the Cotai Strip, after its Las Vegas counterpart. Following the opening of the Sands Macao, Adelson's personal wealth multiplied more than fourteen times. He recovered his initial $265-million investment in one year and, because he owned 69% of the stock, he increased his wealth when he took the stock public in December 2004. The 1,000,000 square feet (93,000 m 2) Sands Macao became China's first Las Vegas-style casino when it opened in May 2004. In 2010, during the Great Recession, Adelson told The Wall Street Journal "If it were today, we probably wouldn't have started it." Macau Īdelson led a project to bring Las Vegas Sands casinos to Macau. It is one of five stand-alone casinos that were awarded a slots license by the Pennsylvania Gaming Control Board in 2006. In the late 2000s, Adelson and the company built a casino resort in Bethlehem, Pennsylvania. The Venetian Macau, the seventh-largest building in the world by floor space In 1995, Adelson and his partners sold the Interface Group Show Division, including the COMDEX shows, to SoftBank Group of Japan for $862 million Adelson's share was over $500 million. It was one of the largest computer trade shows in the world through much of the 1980s and 1990s. ![]() In the late 1970s, Adelson and his partners developed the COMDEX trade shows for the computer industry, beginning in 1979. Over the course of his business career, Adelson created almost 50 businesses, making him a serial entrepreneur. He soon became a millionaire, although by his thirties he had built and lost his fortune twice. In the 1960s, he started a charter tour business. Īfter being discharged from the army, he established a business selling toiletry kits, then started another business, De-Ice-It, which marketed a chemical spray that cleared ice from windshields. He attended trade school in a failed attempt to become a court reporter, then joined the army. He attended the City College of New York, but did not graduate. In 1948, at the age of 15, he borrowed $10,000 (equivalent to $112,784 in 2021) from his uncle to start a candy vending-machine business. He began his business career at the age of 12 when he borrowed $200 from his uncle (equivalent to $3,010 in 2021) and purchased a license to sell newspapers in Boston. His father was a taxi driver, and his mother ran a knitting shop. His mother immigrated from England, and Adelson said that his grandfather was a Welsh coal miner. His father's family was of Ukrainian Jewish and Lithuanian Jewish ancestry. Early life Īdelson was born on August 4, 1933, and grew up in the Dorchester neighborhood of Boston, the son of Sarah (née Tonkin) and Arthur Adelson. In September 2017, Adelson was listed by Forbes as having a fortune of US$35.7 billion, and as of September 2020 Forbes listed his net worth as US$29.8 billion. He was also a major backer of Israel's prime minister Benjamin Netanyahu. He and his wife Miriam Adelson were Donald Trump's largest donors, providing the largest donation to Trump's 2016 campaign, his presidential inauguration, his defense fund against the Mueller investigation into Russian interference, and the 2020 campaign. He was a major contributor to Republican Party candidates and was often dubbed a " kingmaker" due to the size and frequency of his donations. Īdelson created the Adelson Foundation in 2007, a private charity focusing on healthcare and support of Israel and the Jewish people. He owned the Israeli daily newspaper Israel Hayom, the Israeli weekly newspaper Makor Rishon, and the American daily newspaper the Las Vegas Review-Journal. He was the founder, chairman and chief executive officer of Las Vegas Sands Corporation, which owns the Marina Bay Sands in Singapore, and the parent company of Venetian Macao Limited, which operated The Venetian Las Vegas and the Sands Expo and Convention Center before selling the properties in early 2022. Sheldon Gary Adelson ( / ˈ æ d ə l s ə n/ August 4, 1933 – January 11, 2021) was an American businessman, investor, political donor, and philanthropist.
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