Sheldon Adelson, Billionaire Casino Mogul And GOP Mega-Donor, Dies At 87
Published January 12, 2021 by Sol FH
Las Vegas casino magnate and Republican mega-donor, Sheldon Adelson, confirmed dead by his wife Miriam Adelson.
There are few names that are as famous in the casino industry as was Sheldon Adelson. The owner of the Las Vegas Sands Corp., Republican mega-donor, and champion of his charitable foundation, Adelson passed after being treated for non-Hodgkins lymphoma, since 2019.
His passing was confirmed by his wife, Miriam Adelson.
In early 2020, Forbes listed Adelson as the 19th richest American, holding approximately $29.8 billion. His wealth increased by $1 million an hour after he took his Las Vegas Sands Corp. public in 2004. Adelson took a hit in 2008 during the recession and it is said that he lost $1,000 per second at that time.
Adelson had very close ties to American politics, as the outright biggest donor to the Republican party in 2012, 2016, and 2018. He has given over $300 million to various Republican campaigns, including $35 million to President Trump. Adelson and his wife Miriam also gave $5 million for Trump's inauguration, which was by far the largest donation of its kind in U.S. history.
Adelson was in the news regularly, but most recently it was due to President Trump publicly stating that Adelson hadn't given enough to his failed campaign. There were reports that Adelson was upset byTrump's comments, as the President seemed unaware as to the total sum that Adelson had given to Republicans. Albeit, Adelson soon after gave an additional $75 million to support Trump's reelection.
Adelson, the biggest donor of all time to the state of Israel, his wife's homeland, was also a big supporter of Prime Minister Benjamin Netanyahu, purchasing a newspaper, which became Israel's largest daily circulation, that supported Netanyahu and bolstered his position as the longtime leader of the country.
There were many that criticized Adelson's giving as politically motivated, but he completely slammed the door on his naysayers, stating that he has always ever tried to correct a system that had gone wrong.
Sheldon Gary Adelson was born in Dorchester, NY, on August 4, 1933. He grew up in a one-room apartment and slept on the floor with his two brothers and sister. He built his empire and often said his story was a "rags-to-riches story, but, we couldn't afford the rags."
When he was 12, he borrowed $200 from one of his uncles and got the right to sell newspapers on a desirable corner in NY. When he turned 16, Adelson moved into the candy machine business followed by a term in the U.S. Army.
His work ethic was incredibly well-known and he did everything from being a mortgage broker to a travel agent. It was in 1979 that he got his break in Las Vegas after founding Comdex, a computer trade show that drew crowds of hundreds of thousands of people, which ultimately became the biggest of its kind in the world.
He bought the Sands hotel and then built the Venetian Las Vegas, one of the most successful casinos on the strip. Millions flocked to his casinos and hotels to experience the luxury and opulence that he was well known for.
Adelson was not only active in the U.S. having established four hotel-casinos in Macau and the Marina Bay Sands in Singapore.
In addition to his wife, Adelson is survived by four children from his two marriages.
