Sheldon Adelson Net Worth: $26 billion
Sheldon Adelson came from humble beginnings. He was born on August 4, 1933 in Boston, Massachusetts. He learned how to earn money at an early age as his parents were poor. A school dropout when he was young, he is known to be politically affiliated with the Republicans and has extended financial support during the campaign. After some struggles, Sheldon Adelson is now considered a casino and hotel magnate with a net worth of $26 billion.
How did Sheldon Adelson make his money?
Adelson already had his own newspaper business at age 12. He started making money in the succeeding years by running a candy vending machine, selling toiletries and chemical spray, and investing in a travel and tour business. He ventured into real estate brokerage, publishing, and hosting of trade shows for the computer industry in the 1970s. He launched the Interface Group and eventually created COMDEX. In 1979, COMDEX held its first successful show at the MGM Grand Hotel in Las Vegas. By the end of the decade, COMDEX was already earning $250 million. In 1988, Adelson and his partners bought Sands Casino, which he redesigned so he could build a resort, a shopping mall, and a convention center. In 1995, he sold COMDEX and got his share of $500 million. With $1.5 billion, he constructed the Venetian Resort Hotel Casino and the Sands Expo and Convention Center and opened another Venetian casino resort in Macau. He built the Marina Bay Sands Hotel and Casino in Singapore, which formally opened in 2010. Sheldon Adelson has established over 50 businesses in the course of his career.