Sheldon Adelson is the founder of the Las Vegas Sands Corporation. He's an American who has made billions in the hospitality and recreation industry and has risen to the status of b1. usiness magnate. He's in his eighties and he's led an interesting life on his journey which is still ongoing. If you're not familiar with Adelson, you're in the right place to learn about some significant achievements and contributions that he's made. Here are 10 things that you didn't know about Sheldon Adelson, but may be glad to know.
1. He was born to a poor family
Sheldon G. Adelson was born in 1933. His family was low income and lived in the Dorchester area of Boston, Massachusetts. Both of his parents worked to support their family. His father drove a taxi cab for a living and his mother operated a knitting shop. He wasn't born with financial privilege but he did grow up with an understanding of what it was to grow up without a lot of money.
2. He is the son of immigrants
Adelson comes from parents who immigrated to the United States from other countries. On his father's side, his grandfather was a coal miner in Wales and his paternal ancestry is Ukrainian Jewish and Lithuanian Jewish. His mother came to America from England. His family was a part of the wave of immigrants who flooded into the country during that period of time, all seeking a new land and the opportunity to make a better life for themselves and their families.
3. He was the 15th richest man in the world
Forbes listed Sheldon G. Adelson in their list of the richest people in the world. He made it to the slot of number 15 on the list with a fortune that is estimated at $33.3 billion. He's earned his fortune through hard work and some very wise investments throughout his business career.
4. He owns a lot of real estate in Las Vegas
Mr. Adelson is the man who founded the popular Las Vegas Sands which is the property of the Las Vegas Sands Corporation. The large company also owns the Venetian Macao Limited, operating the Venetian Resort Hotel Casino as well as the Sands Expo and Convention Center. The corporation is also the parent company of the Marina Bay Sands in Singapore. His empire stretches from the United States through Asia.
5. Mr. Adelson owns American and Israeli newspaper companies
The business magnate is also the owner of the Las Vegas Review-Journal which is a daily newspaper in America. In addition to this, it was previously reported owns the Israel Hayom, which is a daily newspaper in Israel. Later, news was shared that it's not Adelson that actually owns the Israeli newspaper, but rather a relative of his. He tried to purchase the Maariv newspaper in Israel but it failed but he kept trying until he received the go ahead to make the purchase of Maariv as well as Makor Rishon.
6. His wife influenced his philanthropy
Adelson's wife Miriam is a philanthropist at heart and due to her diligence, Mr. Adelson established the Adelson Foundation in 2007. The Foundation is used to make donations to several causes and nonprofit organizations. The foundation has made contributions of $140 million to Birthright Israel. This organization finances trips to Israel for Youth. He and his wife also established the Dr. Miriam and Sheldon G. Adelson Medical Research Foundation and donated $7.5 million for a research collaborative of 10 universities. They value education, the furtherance of medical research and helping youth to realize their Jewish Heritage.
7. He began his career in business when he was 12
Sheldon Gary Adelson got an early start on his business career. He was a tenacious youth who believed in himself and he was willing to take risks to achieve his goals, even before he reached his teenage years. He borrowed $200 at the age of 12 from an uncle and he bought a license that allowed him to sell newspapers in the Boston area. By the time he was 16, he borrowed a larger sum of $10,000 from an uncle so he could open a candy vending machine business. The youth was an entrepreneur prior to the onset of puberty.
8. He's had his share of failures
Sheldon Adelson has a positive attitude and although he's one of the richest men in the world today, he's had his share of setbacks. He attempted to go to college and trade school, but he failed at both. He also made an attempt to become a court reporter but this wasn't a success either so be bagged all of that and enlisted in the army.
9. The Democratic Congressional Campaign Committee put him on blast
In August of 2012 ,the DCCC accused Mr. Adelson of making donations of Chinese prostitution money to the Republican party. There were two separate blog posts that suggested he approved prostitution activities at his Macau resorts and that this is where the money used to make the donations had come from. Mr. Adelson responded with a libel suit against them and shortly after the suit was filed, the DCCC made an apology and they withdrew those blog posts.
10. He sold toiletry kits after the army
The magnate was discharged from the army and had to find a way to make a living. Being a tenacious entrepreneur at the core of his being, he founded a new business that involved selling toiletry kits. After that he sold a chemical spray used to take the ice off windshields of vehicles called De-Ice-It. After that he established a charter tours business which was the beginning of his attainment of wealth. It wasn't long before he was a millionaire. He's credited for the creation of nearly fifty of his own businesses, some of which were successful and some of them not.
Written by Dana Hanson
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