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Meet the billionaire behind iconic casinos like The Venetian and Marina Bay Sands, who's worth $37 billion, lives in a Vegas mansion, and has donated more than $25 million to Trump
Meet the billionaire behind iconic casinos like The Venetian and Marina Bay Sands, who's worth $37 billion, lives in a Vegas mansion, and has donated more than $25 million to Trump
Katie WarrenMay 6, 2019, 23:08 IST
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Sheldon Adelson is the billionaire chairman and majority shareholder of the world's largest casino operator, Las Vegas Sands.
You may not have heard of Sheldon Adelson, but you've probably heard of some of his world-famous properties: the Venetian and the Palazzo hotels in Las Vegas, or perhaps the Marina Bay Sands in Singapore made famous by "Crazy Rich Asians."
He's also given millions of dollars in political contributions to high-profile Republican politicians. Adelson gave at least $17 million in political contributions to Newt Gingrich during his 2012 presidential campaign, according to The New York Times. And Adelson has made at least $25 million in political contributions to Trump, earning him the nickname "Trump's Patron-in-Chief."
Sheldon Adelson is the 85-year-old billionaire behind the world's largest casino operator, Las Vegas Sands.
Las Vegas Sands operates properties worldwide including the Venetian Las Vegas, the Palazzo Las Vegas, the Sands Expo & Convention Center, the Sands Macao, the Marina Bay Sands in Singapore, the Sands Bethlehem, and more.
Adelson first started making big money in trade shows. He launched COMDEX, a technology trade show in Las Vegas, with partners in 1979.
The trade show became one of the most attended in the world, and in 1995, Adelson and his partners sold it along with other smaller shows to SoftBank for $862 million.
Adelson didn't get into the casino business until he was 55 years old. In 1989, he bought the Sands Casino & Hotel in Las Vegas for $128 million.
The Venetian opened in April 1999. It just celebrated 20 years on the Las Vegas strip.
"The Venetian's success in Las Vegas, and particularly our convention-based business strategy, would end up being the basis for our company receiving coveted licenses in Macao and Singapore," Adelson said in a statement to the Las Vegas Review-Journal, a newspaper he owns.
In 2004, Adelson opened the Sands Macau, which cost at least $265 million to build.
Adelson reportedly owns an Airbus A345, which he once used to set a record for the longest flight ever to depart from Israel's Ben-Gurion International Airport. According to Haaretz, he made a 17-hour and 40-minute flight from Israel to Honolulu, Hawaii, in 2017.
Adelson is a major donor to Republic politicians.
Adelson gave at least $17 million in political contributions to Gingrich during his 2012 presidential campaign, according to The New York Times.
Adelson has made at least $25 million in political contributions to Trump, earning him the nickname "Trump's Patron-in-Chief."
"I would put Adelson at the very top of the list of both access and influence in the Trump administration," Craig Holman of the watchdog group Public Citizen told ProPublica in 2018. "I've never seen anything like it before, and I've been studying money in politics for 40 years."
Adelson is also a major donor to Jewish organizations.
"These side effects have restricted his availability to travel or keep regular office hours," Reese told the magazine in a statement. "They have not, however, prevented him from fulfilling his duties as chairman and CEO."
In April, the casino mogul made $2.2 billion in one week thanks to his property in Macau.