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| ==Wealth== | ==Wealth== | ||
| According to '']'' magazine, Adelson is the 14th richest person and the third richest American in the world, with a ] estimated at $20.5 billion in 2006. His wealth in 2003 was only $1.4 billion ; in 2004, his fortune increased 750 percent after his company started ]. Forbes estimates he has been earning about $1 million an hour for the past two years. | According to '']'' magazine, Adelson is the 14th richest person and the third richest American in the world, with a ] estimated at $20.5 billion in 2006. His wealth in 2003 was only $1.4 billion ; in 2004, his fortune increased 750 percent after his company started ]. Forbes estimates he has been earning about $1 million an hour for the past two years. In addition, Adelson is the richest person of ]ish heritage in the world . | ||
| Sheldon G. Adelson is Chairman of the Board and principal owner of ]., the parent company of ] Resort-Hotel-Casino in Las Vegas, Nevada and Venetian Macao Limited in ], ]. A dynamic entrepreneur, business visionary, and ], Mr. Adelson's business career spans five decades. | Sheldon G. Adelson is Chairman of the Board and principal owner of ]., the parent company of ] Resort-Hotel-Casino in Las Vegas, Nevada and Venetian Macao Limited in ], ]. A dynamic entrepreneur, business visionary, and ], Mr. Adelson's business career spans five decades. | ||
Revision as of 19:25, 10 January 2007
Sheldon Gary Adelson (born 1934) is an American businessman. He is a property developer and public company CEO based in Las Vegas, Nevada. He is Chairman and Chief Executive Officer of the Las Vegas Sands Corp., which owns and operates the Venetian Casino Resort and the Sands Expo and Convention Center. Adelson vastly increased his net worth upon the initial public offering of Las Vegas Sands (NYSE: LVS) in December 2004 by selling just 10% of the shares.
Adelson spearheaded a major project to bring the Sands name to the Macao SAR, China, the Chinese gambling city that had been a former Portuguese colony until December 20, 1999. The one million-square-foot Sands Macao became the People's Republic of China's first Las Vegas-style casino when it opened in May 2004.
In addition, on May 26, 2006, Adelson's Las Vegas Sands was awarded a hotly contested license to construct a casino resort in Singapore's Marina Bay. The new casino is expected to open in 2009 at a rumored cost of $3.16 billion.
Earlier in his career, Adelson launched the well-known COMDEX computer trade show. COMDEX, based in Las Vegas, debuted in December 1979. In 1995, Japan-based Softbank Corp. purchased COMDEX for more than $860 million.
Wealth
According to Forbes magazine, Adelson is the 14th richest person and the third richest American in the world, with a net worth estimated at $20.5 billion in 2006. His wealth in 2003 was only $1.4 billion ; in 2004, his fortune increased 750 percent after his company started publicly trading. Forbes estimates he has been earning about $1 million an hour for the past two years. In addition, Adelson is the richest person of Jewish heritage in the world .
Sheldon G. Adelson is Chairman of the Board and principal owner of Las Vegas Sands Corp., the parent company of The Venetian Resort-Hotel-Casino in Las Vegas, Nevada and Venetian Macao Limited in Macao, China. A dynamic entrepreneur, business visionary, and venture capitalist, Mr. Adelson's business career spans five decades.
Early life and career
Adelson was born to a poor Jewish family in the Dorchester neighborhood of Boston. He work at a young age selling newspapers on local street corners and owned his first business by the time he was twelve. In the years that followed, he worked as a mortgage broker, investment adviser and financial consultant. To this point in his career, Adelson has created and developed to maturity more than 50 different companies, including COMDEX, a tradeshow he developed for the computer industry. At his direction, COMDEX became the world's largest trade show with a presence in more than 20 countries.
In 1989, Adelson purchased the Sands Hotel & Casino in Las Vegas. the former hangout of Frank Sinatra and the Rat Pack, in order to bring Las Vegas to a new phase of business centricity through the exhibition industry. The following year, Mr Adelson constructed the Sands Expo and Convention Center, the only privately owned and operated convention center in the United States.
In 1995, Adelson sold the Interface Group Show Division, including the COMDEX shows, to Softbank Corporation of Japan for a cash price in excess of $860 million. In 1991, while honeymooning in Venice with his wife Miriam (a physician), Adelson gained the inspiration for a mega-resort hotel, and he proceeded with the implosion of the venerable Sands and the construction of the $1.5-billion The Venetian, a Venice-themed resort hotel and casino. The luxurious, all-suite Venetian revolutionized the Las Vegas hotel industry, and has been honored with architectural and other awards naming it as one the finest hotels in the world. In 2003, The Venetian added the 1,013-suite Venezia tower - giving The Venetian 4,049 suites, 18 leading-chef restaurants, a shopping mall with canals, gondolas and singing gondoliers.
External links
- The official site of The Las Vegas Sands Corporation
- Adelson's membership on the Forbes global list of billionaires
- Adelson's membership on the Forbes 400 list