Sheldon Adelson Net Worth

What is Sheldon Adelson’s net worth?

net worth:	$40 billion
date of birth:	August 4, 1933
die:	January 11, 2021
country of origin:	USA
Source of wealth:	entrepreneur
Last updated:	January 1, 2024

Sheldon Adelson’s net worth is estimated at $40 billion, making him one of the richest businessmen in the world.

Sheldon Gary Adelson is an American investor, businessman, and philanthropist from Boston.

Adelson first gained recognition for founding the computer trade show COMDEX in 1970.

He is also the founder and CEO of Las Vegas Sands and Marina Bay Sands in Singapore.

His outstanding work as an entrepreneur and investor has impacted many people.

early life

Sheldon Gary Adelson was born on August 4, 1933 in Boston, Massachusetts.

Adelson was born into a low-income family in Dorchester, 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 age 12 when he borrowed money from his uncle to obtain a license to sell newspapers in Boston.

Adelson attended the City University of New York but dropped out because he wanted to focus on his entrepreneurial career.

Profession

Sheldon Adelson started his business career at the age of 12 with $200 borrowed from his uncle.

With the loan, Sheldon purchased a license to sell newspapers in Boston, enabling him to learn how to run a business.

In 1948, when he was 15, he borrowed $10,000 from his uncle and started his own vending machine candy business.

He then attended the City University of New York, but did not graduate, and then went to a vocational school to become a court reporter.

Eventually, he joined the military, but after his discharge, he again set his sights on business, this time selling toiletries.

Soon after, he started another company, De-Ice-It, which sold a chemical spray for de-icing cars in the winter.

Earn his first million dollars

In the early 1960s, Sheldon Adelson started a charter tour business and quickly became a millionaire.

Unfortunately, by the time he was 30, he had amassed so much wealth and then lost it twice, although he apparently recovered.

Adelson and his partners created the COMDEX trade show in the 1970s for the booming computer industry, and it remained one of the largest trade shows into the 1990s.

In 1988, he purchased the Sands Hotel in Las Vegas for $110 million and built the Sands Expo and Convention Center the following year.

While on vacation in 1991, he was inspired to build a new hotel, so he spent $1.5 billion to demolish the Sands and build the Venetian.

In addition to building one of the world’s most expensive hotels, Adelson also built a casino resort in Pennsylvania that opened in 2009.

Bringing Las Vegas to the World

Not content with keeping Las Vegas in Nevada, Adelson launched a project to bring the Los Angeles Sands casino to Macau.

This led to the creation of the Sands Macao, which opened in 2004 as China’s first Las Vegas-style casino.

In 2006, he opened the Venetian Macao resort in Cotai, planning to invest more than US$12 billion in construction.

In the same year, Las Vegas Sands Corporation obtained the license to build the Marina Bay Sands Hotel in Marina Bay, Singapore.

When the resort opened, it was the most expensive building in the world, costing more than even the Burj Khalifa in Dubai.

The $8 billion Marina Bay Sands, with its 2,500 luxurious rooms, makes even the world’s largest houses look cheap.

Adelson’s other investments

In 2015, Sheldon Adelson acquired Las Vegas Review-Journal The newspaper is distributed through News + Media Capital Group LLC.

In addition to this, Adelson has become a major political donor using his vast wealth, which enables him to support candidates.

He became a major supporter of Donald Trump, contributing $25 million to Trump’s 2016 campaign and $200 million to Trump and the Republican Party in 2020.

Sheldon Adelson also personally supports the Miriam and Sheldon G. Adelson Medical Research Foundation in Boston, Massachusetts.

Although he passed away in 2021, his family continued his business and recently purchased the Dallas Mavericks from Mark Cuban.

The move is rumored to be part of an expansion of the Las Vegas Sands casino empire, led by Miriam Adelson, into Texas.