# Sheldon Adelson Net Worth: A Comprehensive Look at the Life and Wealth of a Billionaire Businessman
## Summary
In this article, we will delve into the net worth of Sheldon Adelson, an American billionaire businessman and political power broker. At the time of his death in January 2021, Adelson’s net worth was estimated to be $40 billion. Adelson earned his fortune primarily as the majority owner and CEO of the renowned casino company, Las Vegas Sands. However, before venturing into the gambling industry, Adelson had started over 50 businesses. It was his co-founding of COMDEX, a computer trade show, in 1979 that ultimately resulted in his success.
## Introduction
Sheldon Adelson’s entrepreneurial journey showcases a true rags-to-riches story, as he overcame hardships to become one of the wealthiest individuals in the world. Born on August 4, 1933, in Boston, Massachusetts, Adelson grew up in a low-income, Jewish family with immigrant roots. His father worked as a taxi cab driver, and the family lived in a two-room flat, with the parents sleeping on a mattress and the children on the floor. Adelson’s entrepreneurial spirit was evident from a young age, as he started selling newspapers at the age of 12 after borrowing $200 from his uncle. At 16, he borrowed $10,000 to start a vending machine business.
## COMDEX: The Turning Point
One of the defining moments in Adelson’s career was the co-founding of COMDEX, a computer trade show, in 1979. The timing was perfect, as the computer industry was about to explode. Over the next few years, Adelson’s net worth increased significantly, and in 1995, he sold COMDEX to SoftBank Corporation for $862 million, personally receiving over $500 million.
## Rise in the Gambling Industry
In 1989, Adelson and his partners purchased the Sands Hotel and Casino in Las Vegas for $128 million. Their initial plan was to build their own convention space for COMDEX, which led to the creation of the iconic Venetian Resort Hotel Casino. Adelson’s vision revolutionized the Las Vegas hotel industry, as the Venetian offered grand suites and luxurious casino floors. The Venetian opened its doors in 1999 and quickly became a major success.
By 2004, Adelson took Las Vegas Sands public, making him a billionaire. His net worth grew exponentially at a rate of $1 million per hour, including nights, weekends, and holidays. In 2007, Adelson expanded his ventures to Macau, China, where he constructed a colossal 39-story hotel and casino. Adelson further expanded his empire into Singapore and Cotai, becoming the majority owner of Las Vegas Sands (LVS).
## Losses in 2008 and Quick Recovery
Unfortunately, Adelson’s wealth took a major hit during the global recession of 2008. The economic downturn resulted in a significant decline in Las Vegas Sands Corp’s share price, causing Adelson to lose $4 billion in the first year alone. By 2009, his net worth had plummeted to $2 billion. However, Adelson’s business acumen helped him recover relatively quickly. By 2011, his net worth exceeded $23 billion, making him the 16th-richest person in the world.
## Political Involvements and Philanthropy
Beyond his contributions to the gambling industry, Sheldon Adelson was known for his extensive involvement in Jewish and Israeli organizations and charities. He also owned newspapers in both Israel and the United States. Adelson’s political contributions and support for Republican candidates garnered significant attention. His donations to Republican campaigns, Super PACs, and other political causes were substantial. In the 2020 election cycle alone, the Adelsons donated $173 million, making them the largest political donors in the world.
## The Las Vegas Review-Journal Acquisition
In 2015, Adelson acquired The Las Vegas Review-Journal, the largest newspaper in the Las Vegas area, for $140 million. He initially concealed his ownership through a shell company, which led to resignations of editors and staff members when his ownership was revealed.
## Personal Life and Health Concerns
Adelson married his first wife, Sandra, in the 1970s and adopted her three children from a previous marriage. Following their divorce in 1988, Adelson married Dr. Miriam Farbstein in 1991, with whom he has two children. Adelson’s health declined in later years, as he was affected by peripheral neuropathy, which made it difficult for him to stand or walk for long periods. Furthermore, he started receiving treatment for non-Hodgkin’s lymphoma in 2019.
## Conclusion
Sheldon Adelson’s incredible journey from humble beginnings to becoming a billionaire businessman and influential political figure is a testament to his resilience and entrepreneurial spirit. Despite facing significant setbacks, such as the 2008 recession, Adelson managed to rebuild his fortune and leave an indelible mark on the gambling and hospitality industries. His philanthropy, political contributions, and business ventures have solidified his legacy as one of the most prominent figures in the world of business and politics.
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