There are many outstanding personalities in the casino world who inspire others by their example, but Sheldon Adelson, the chairman and CEO of Las Vegas Sands, stands out among them. For some, he is a brilliant strategist who has conquered the business world; for others, he embodies the epitome of luxury and wealth. He is a billionaire who has made himself and achieved what others can only dream about.
The Biography of Sheldon Adelson
He was born in Dorchester, near Boston, on August 6, 1933. His father was a poor Lithuanian immigrant who worked as a taxi driver. His mother, a housewife, was originally from Ukraine but was born in Wales after her family emigrated from Kyiv to the United States. Sheldon's childhood was in poverty, and he began to make a living by selling newspapers.
After growing up, he entered the City College of New York with majors in corporate finance and real estate, but didn't complete his studies. In the fifties, he served in the U.S. Army and settled as a court stenographer on Wall Street. Later, he worked as a mortgage broker, an investment expert, an entrepreneur, and a financial advisor.
After getting richer and returning to Boston, Adelson invested in various projects. Gradually, he became the owner of more than seventy-five companies.
In the late 1960s, the stock market crashed, but Sheldon could make a fortune on real estate transactions.
In the early seventies, he started organizing exhibitions and conferences. His show, COMDEX (Computer Dealer Expo), which focused on computer dealers, was a huge success. In 1995, Adelson sold it to Softbank for $860 million.
Sheldon Adelson's Casinos
Sheldon Adelson entered the gaming industry in 1988 when he and his partners acquired the legendary Las Vegas hotel and casino, The Sands. A year later, they built the first private exhibition center in the U.S., The Sands Expo.
In 1991, Adelson and his wife Miriam had a honeymoon in Venice. After that, he decided to create a new casino in the Venetian style. The Sands was razed to the ground, and the hotel-casino The Venetian was built. Its construction costs were $1.5 billion. This complex was a sensation, garnering numerous awards and being recognized as one of the best in the world on multiple occasions.
Later, Sheldon Adelson turned his attention to Macau, building luxurious casinos:
- Sands Macao,
- Venetian Macao,
- Marina Bay Sands.
You can read about them in the articles at Casinoz.
Adelson was one of the 16 wealthiest people in the world. In 2011, his fortune was valued at more than $25 billion. He was known for his charity projects and is often referred to as the king of the casino industry and the richest Jew in the world.
Last Days
Sheldon Adelson passed away on January 11, 2021, at the age of 87, in his home in Las Vegas, Nevada. His death was due to complications related to the treatment for non-Hodgkin's lymphoma, a cancer he had been battling publicly for almost two years since his diagnosis in February 2019. Just the week before his passing, he had announced he would be taking a medical leave of absence from his role as chairman and CEO of Las Vegas Sands Corporation to focus on his treatment.
He was laid to rest at a small funeral on the Mount of Olives in Jerusalem, with close family present. His coffin, draped in US and Israeli flags, was on display at Ben Gurion Airport before his burial.
