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Sheldon Adelson, owner of the world’s largest casino company and a prominent Republican donor, died on January 11 at the age of 87.
He passed away from complications related to treatment for non-Hodgkin’s Lymphoma, according to a statement from Las Vegas Sands, the company he owned.
Adelson was the Las Vegas billionaire behind some of the world’s most iconic casinos and hotels, including the Venetian and the Palazzo hotels in Las Vegas and the Marina Bay Sands in Singapore made famous by “Crazy Rich Asians.” He was the chairman and majority shareholder of the world’s largest casino operator, Las Vegas Sands.
The casino tycoon, who was worth an estimated $33 billion before his death, gave 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 he made at least $25 million in political contributions to Trump, earning him the nickname “Trump’s Patron-in-Chief.”
In 2020, Adelson donated more than $120 million to Republican causes and candidates including Trump, according to the Center for Responsive Politics.
Adelson was married to his wife, Miriam, for more than 30 years. The couple reportedly lived in a Las Vegas megamansion, owned a 300-foot superyacht, and traveled in a 380-passenger private jet.
Here’s a look at the late Las Vegas billionaire’s life, career, and wealth.
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Sheldon Adelson, who died on January 11 at age 87, was the 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.
The company reported $13.7 billion in revenue in 2019.
Adelson came from humble beginnings, according to Bloomberg.
The son of a cab driver in Boston, his first jobs included selling newspapers on street corners, selling ads in trade magazines, and serving as a court reporter.
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.
He demolished the hotel in November 1996.
It took two years and cost $1.5 billion to build The Venetian.
To imitate Venice, Italy, Adelson ordered detailed renderings of the Doge’s Palace, Rialto Bridge, and Campanile tower.
He also …read more
Source:: Business Insider