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King Of The Casino – Sheldon Adelson
As part of this article, we will talk about Sheldon Adelson, who is the CEO of Las Vegas Sands Corporation. This person is perceived in different ways – the embodiment of wealth and luxury, a brilliant strategist and a successful businessman.
King Of The Gambling World
Mr. Adelson was born in 1933 in Dorchester (near Boston). His father is a poor immigrant from Lithuania who works as a taxi driver. The childhood of the future gambling tycoon passes in constant need, which stimulates him to start earning a living early.
Sheldon Adelson enters the City College of New York and majors in real estate and corporate finance. He never received an education, leaving for the army, on his return from which he got a job as a stenographer. Further, he has been working for a long time as a mortgage broker, entrepreneur, financial consultant, mortgage broker.
Having amassed the initial capital, Sheldon returns to Boston, where he begins to invest in successful projects. In the 60s, he suffers a serious blow – the collapse of the stock exchange takes away a solid part of his capital, but he again managed to make a fortune from the sale of real estate.
In the 70s, he organizes conferences and exhibitions, and is very popular, in particular, the COMDEX exhibition, where the target audience is computer dealers. In the mid-90s, the exhibition was sold to a large company Softbank for $ 860 million.
First Steps In Gambling
Sheldon Adelson starts gambling in 1988 – with his partners he acquires The Sands Hotel in Vegas. In 1991, Adelson travels to Venice, upon his return from which he decides to create a new gambling establishment in the Venetian style. The Sands Casino is being decisively demolished, and The Venetian is being built in its place, worth $ 1.5 billion.
Seizing the opportunity, Adelson enters the Macau market, where the authorities have taken away the state monopoly on opening a casino from Stanley Ho. Sheldon Adelson opens Venetian Macao, Sands Macao and Marina Bay Sands here.
Now Sheldon Adelson entered the TOP 16 of the richest people on the planet. In 2011, his assets were estimated at $ 25 billion. Now he is called the king of the gambling world, and Mr. Adelson is also actively involved in charity work.