KEY POINTS

  • Sheldon Adelson has a net worth of $31.6 billion
  • He is the CEO of Las Vegas Sands
  • Adelson owns several properties, a private jet and a superyacht

Sheldon Adelson has a net worth of $31.6 billion. This is how the billionaire makes and spends his massive fortune.

Adelson’s money comes from owning several casinos. He is the chairman and CEO of Las Vegas Sands, which manages popular casino spots The Venetian and Marina Bay Sands. With such a global reach and clout, Adelson is known in the industry as the casino mogul who likes to live a fancy life and a popular supporter of President Donald Trump. 

Sheldon entered the casino game late at 55 years old when he acquired the Sands Hotel & Casino in Las Vegas for $128 million in 1989, per Forbes. Aside from The Venetian and Marina Bay Sands, Las Vegas Sands also operates the Palazzo Las Vegas, the Sands Expo & Convention Center, the Sands Macao and the Sands Bethlehem, among others. 

Sheldon Adelson has been good to Newt Gingrich. Sheldon Adelson Photo: REUTERS

One of the things that makes him successful is his attention to detail. He splurged in making The Venetian, which allegedly cost $1.5 billion to build. He hired a historian from Venice and even tried to copy the designs of Rialto Bridge and Campanile tower to make it more authentic. 

On the personal side, he is married to Miriam Adelson and they have five children together. He lives in a multimillion mansion in Las Vegas which features tennis courts and a swimming pool. The family owns a private jet and a 300-foot superyacht. 

Typical among multibillionaires is having more than one property and Adelson is no exception. He owns a property in Malibu, California that carries a price tag of $52 million. According to Business Insider, he made $2.2 billion in April 2019 after the shares price of The Las Vegas Sands increased in one week. 

Long connected to supporting Republican candidates via hundreds of millions of donations to their political campaign, the casino CEO also has a heart for Jewish organizations. Adelson donated at least $400 million to Birthright, which gives opportunities to underprivileged children to travel to Israel. For someone who did not finish a college degree, Adelson has certainly come a long way. 

The Guardian reports that Adelson is set to donate $100 million to boost the re-election campaign of Trump in 2020. In the past, he has also donated $124 million in 2018 to support Republican causes. 

The 86-year-old is battling non-Hodgkin's lymphoma, but he makes sure it does not interfere with his tasks and duties as a businessman. The lockdowns hampered the usual revenues of businesses and it affected the casinos heavily. It was reported that casinos in Macau suffered an estimate of 80 percent due to COVID-19.