Sheldon Adelson Biography– Sheldon Adelson, full name Sheldon Gary Adelson, was an American hotel-casino owner, newspaper publisher, and political contributor who made a fortune from casinos in Las Vegas and Macau, allowing him to support conservative political causes on a large scale in the United States and Israel. He was born August 4, 1933, in Boston, Massachusetts, and died January 11, 2021, in Malibu, California.
Adelson was born into humble circumstances in Boston’s Dorchester neighborhood. His father worked as a taxi driver and was a Lithuanian immigrant. At the age of 12, the younger Adelson began hawking newspapers. He allegedly attended City College of New York (now a division of the City University of New York) but did not complete his education.
Adelson developed enterprises in a variety of sectors after serving in the US Army, including mortgage banking, charter tour operations, and hotel amenities. He was believed to have made and lost enormous sums of money on numerous occasions.
In the 1970s, Adelson and a group of Massachusetts partners created the Interface Group. Even though Adelson claimed no knowledge of computers, Interface launched COMDEX (Computer Dealers Exposition) in 1979, a computer industry trade exhibition. COMDEX was held yearly in Las Vegas and quickly established itself as one of the world’s greatest trade events in its area, as well as the foundation of the Adelson empire.
In 1989, he bought the Sands hotel and casino in Las Vegas from Kirk Kerkorian and established the Las Vegas Sands Inc. (LVS; since 2004 the Las Vegas Sands Corp.) to manage it. He opened the Sands Expo and Conference Center, one of the country’s largest privately owned convention centers, in 1990.
Who is Sheldon Adelson ?
Sheldon Adelson is a $40 billion business mogul, investor, and philanthropist from the United States.
As the son of Sarah and Arthur Adelson, he grew up in the Dorchester area of Boston, Massachusetts, in a low-income family.
His father, a taxi driver, was of Ukrainian and Lithuanian heritage, while his mother, an English immigrant, managed a knitting business.
He began his commercial career at the age of 12 when he borrowed $200 from his uncle and purchased a license to sell newspapers in Boston.
He borrowed $10,000 from his uncle four years later to establish a candy vending machine business.
He attended vocational school to train as a court reporter before joining the army.
He started a business selling toiletry kits before dropping out of City College of New York to focus on his career.
He launched De-Ice-It after being discharged from the army, selling a chemical spray to assist defrost iced windshields.
Sheldon Adelson Net Worth: How much does he have?
Sheldon Adelson has a net worth of $40 billion and also an American billionaire businessman and political power broker who died in January 2021. Sheldon made his fortune as the primary owner and CEO of Las Vegas Sands, a casino enterprise.
Though Adelson is associated with the gambling industry, he didn’t get into it until he was 55 years old.
Adelson had already founded almost 50 enterprises. As a co-founder of COMDEX, a computer trade fair, he finally struck gold. In 1979, he and four partners co-founded COMDEX.
Sheldon Adelson Career
In his career, Sheldon Adelson grew up in Boston, Massachusetts, and studied corporate finance and real estate at City College of New York in the 1950s. He did not complete his education and instead joined the United States Army and worked as a court stenographer on Wall Street.
By the early 1960s, Adelson had amassed considerable money. He returned to Boston and invested in various firms (at one point he owned as many as 75 businesses in the area). After the stock market crashed in the late 1960s, he went into the real estate brokerage business.
Interface Group was established by him in 1973. In the 1970s, he founded the Computer Dealer Expo, or COMDEX, a trade exhibition for the computer industry. Interface Group and COMDEX were sold to Softbank Corporation of Japan for $862 million in 1995.
Adelson entered the gaming sector in 1989 when he purchased the Sands Hotel & Casino in Las Vegas, Nevada. A year later, he completed the Sands Expo and Convention Center, the United States’ sole privately owned convention center. In 1991, he completed the Venetian Resort Hotel Casino, which was inspired by Venice, Italy.
In 2004, Las Vegas Sands Corporation went public on the New York Stock Exchange. Adelson went on to establish casinos on the Chinese island of Macau and in Marina Bay in Singapore.
Adelson purchased the Las Vegas Review-Journal, Nevada’s largest daily newspaper, in December 2015.
Sheldon Adelson Age: How old is he?
Sheldon Adelson is 87 years old, born on August 4, 1933. He is a millionaire American businessman who made his fortune in the casino and resort industry. He started his first business when he was 12 years old.
He had made millions and lost it twice by the time he was in his 30s. After co-founding the ‘Interface Group,’ which established COMDEX, a hugely successful computer distributors’ show, he turned his fortune around in the 1970s.
He established the Las Vegas Sands in the late 1980s as a foray into the casino and resort market. He quickly rose to prominence as a successful serial entrepreneur. With casinos and resorts in Macau, China, and Marina Bay, Singapore, his company expanded internationally. He afterwards moved into the media industry.
Sheldon Adelson Wife: Facts about Dr. Miriam Farbstein Ochshorn
Sandra Adelson was Sheldon Adelson’s first wife until their divorce in 1988. Mitchell, Gary, and Shelley were the three children they adopted.
On a blind date in 1989, he met Dr. Miriam Farbstein Ochshorn. Two years later, they married. Miriam was previously married to Dr. Ariel Ochshorn and had two kids with him.
In 2001, Adelson was diagnosed with peripheral neuropathy, which made it difficult for him to stand and walk.
It was revealed on February 28, 2019, that he was being treated for non-lymphoma, Hodgkin’s a type of blood cancer.
Sheldon Adelson was 87 years old when he died on January 11, 2021, at his home in Malibu, California.