Sheldon Adelson

Sheldon Adelson
Born	(1933-08-04) August 4, 1933 Boston, Massachusetts, U.S.
Died	January 11, 2021(2021-01-11) (aged 87)
Occupation(s)	Entrepreneur, investor, political philanthropist
Known for	Founder, chairman, and CEO of Las Vegas Sands Corporation; owner of Israel Hayom and Las Vegas Review-Journal

Sheldon Gary Adelson (August 4, 1933 – January 11, 2021) was a prominent American entrepreneur, investor, and political philanthropist. He founded, chaired, and served as CEO of Las Vegas Sands Corporation, which was responsible for developing the upscale Marina Bay Sands resort in Singapore and owned Venetian Macao Limited, the operator of The Venetian Las Vegas and the Sands Expo and Convention Center, before divesting these assets in early 2022. Additionally, he held ownership of the Israeli daily Israel Hayom, the Israeli weekly Makor Rishon, as well as the American daily newspaper Las Vegas Review-Journal.

In 2007, Adelson launched the Adelson Foundation, a private philanthropic organization dedicated to healthcare initiatives and support for Israel and Jewish causes. As a substantial donor to the Republican Party, he earned the reputation of a "kingmaker" due to his influential financial contributions. He was Donald Trump’s largest benefactor during both the 2016 and 2020 presidential campaigns, backing Trump’s election efforts, inauguration, legal defense amid the Mueller probe, and other political activities. Moreover, he was a significant advocate for Israeli Prime Minister Benjamin Netanyahu.

By 2020, Forbes valued his net worth at approximately US$29.8 billion.

Early life

Born on August 4, 1933, in Boston’s Dorchester district to Sarah (née Tonkin) and Arthur Adelson, Sheldon Adelson hailed from a Jewish family with paternal heritage tracing back to Ukrainian and Lithuanian Jewish communities. His mother immigrated from England, while his grandfather worked as a coal miner in Wales. His father earned a living as a taxi driver, and his mother operated a knitting store.

At just ten years old, he began his entrepreneurial journey by borrowing $200 from an uncle to sell newspapers around Boston. By age fifteen, he secured $10,000 in funding to launch a candy vending machine enterprise. Although Adelson attended the City College of New York, he did not complete his degree; he later enrolled in trade school before serving in the military.

Following his army tenure, he ventured into businesses selling toiletry kits and De-Ice-It, a chemical spray designed for vehicle windshields. During the 1960s, he founded a charter tour company. By his thirties, Adelson had accumulated and lost wealth twice over. Throughout his lifetime, he established nearly fifty enterprises, solidifying his reputation as a serial business founder.

COMDEX

In the late 1970s, Adelson collaborated with partners to create the COMDEX computer industry trade shows beginning in 1979. The event rapidly grew into one of the world’s largest computer trade fairs throughout the 1980s and 1990s.

In 1995, Adelson and his associates sold Interface Group Show Division—which included COMDEX—to Japan’s SoftBank Group for $862 million; Adelson personally received over $500 million from this transaction.

Las Vegas, Nevada

In 1988, Adelson acquired the Sands Hotel and Casino located in Las Vegas for $110 million. The next year saw him and his partners construct the Sands Expo and Convention Center, notable at that time as the only convention center under private ownership in the United States.

During a honeymoon trip to Venice with his second wife Miriam in 1991, Adelson envisioned an expansive resort hotel concept. He subsequently demolished the existing Sands property and invested $1.5 billion to develop The Venetian, an Italian-themed resort and casino that officially opened on May 3, 1999.

Bethlehem, Pennsylvania

During the late 2000s, Adelson's enterprise established a casino resort in Bethlehem, Pennsylvania, one of five independent casinos granted slot machine licenses by the Pennsylvania Gaming Control Board in 2006. This casino commenced operations on May 22, 2009.

By 2010, amidst the economic downturn known as the Great Recession, Adelson admitted to The Wall Street Journal that he probably would have refrained from initiating the project under such financial conditions.

In 2019, Las Vegas Sands Corp. divested the Bethlehem casino for $1.3 billion to Wind Creek Hospitality, a company based in Alabama and owned by the Poarch Band of Creek Indians. The venue was subsequently rebranded as Wind Creek Bethlehem.

Macau

Adelson led Las Vegas Sands' entry into the Macau market, unveiling the Sands Macao in May 2004 as the first Las Vegas-style casino on Chinese soil. He recovered his $265 million investment within a year and, with a 69% ownership stake, substantially enhanced his fortune when the company went public in December 2004. This move resulted in more than a fourteenfold increase in Adelson’s net worth.

In August 2007, Adelson inaugurated the $2.4 billion Venetian Macao Resort Hotel located on Cotai, initiating development plans for the Cotai Strip, which was inspired by Las Vegas’ famous Strip. Las Vegas Sands projected a $12 billion investment aiming to build 20,000 hotel rooms by 2010, collaborating with luxury brands such as Four Seasons Hotels and Resorts, Sheraton Hotels and Resorts, and St. Regis Hotels & Resorts.

Las Vegas Sands came under federal investigation for potential violations of the Foreign Corrupt Practices Act related to payments made to a Macau attorney. In 2015, without admitting any misconduct, Sands consented to pay a $9 million settlement to the Securities and Exchange Commission.

Marina Bay, Singapore

In May 2006, Las Vegas Sands, led by Sheldon Adelson, won a competitive bid to develop a casino resort in Marina Bay, Singapore. The Marina Bay Sands (MBS) officially opened its doors in 2010, with an estimated investment of $5.5 billion.

At its inauguration in 2010, MBS, which cost approximately S$8 billion including the land acquisition, held the distinction of being the most costly building worldwide. It surpassed iconic projects such as the World Trade Towers in Manhattan and the Burj Khalifa in Dubai.

The MBS complex includes "The Shoppes," a high-end indoor retail space featuring brands like Ferrari and Chanel, along with the Theatre of Marina Bay and a convention center that hosts Sands Live concerts. The resort also boasts multiple swimming pools, including a rooftop infinity pool, nightclubs situated on newly constructed mini islands, and 2,500 upscale hotel rooms. This integrated resort played a crucial role in enhancing Singapore’s hospitality and entertainment industries.

Eurovegas

Adelson unveiled plans in 2012 for a European hotel-casino project, eventually concentrating on Alcorcón, within the Madrid area of Spain. However, the initiative was terminated in 2013 after Spanish authorities refused to grant requested exemptions related to taxation, labor laws, and smoking regulations.

Israeli press

In 2007, Adelson made an unsuccessful attempt to acquire the Israeli newspaper Maariv. Following this, he launched Israel Hayom, a free daily newspaper designed to compete with established publications. Its first issue was published on July 30, 2007. By 2014, Adelson obtained court approval to purchase both Maariv and the conservative paper Makor Rishon. However, by 2016 his legal representative indicated that ownership of Israel Hayom had been transferred to a family member.

A survey conducted by Target Group Index in 2011 revealed that four years after its debut, Israel Hayom led weekday readership with a share of 39.3%, outpacing competitors such as Yedioth Ahronoth at 37% and Maariv at 12.1%. This rapid growth highlighted its disruptive influence on Israel’s media environment.

In the same year, Adelson threatened legal action against Israeli Channel 10 over negative reporting concerning his casino license acquisition. The channel issued an apology which resulted in resignations among senior editorial staff. Subsequently, Israel’s Second Authority for Television and Radio deemed the apology appropriate despite procedural shortcomings.

Las Vegas Review-Journal

In December 2015, Sheldon Adelson purchased the Las Vegas Review-Journal through News + Media Capital Group LLC; initially his involvement was not publicly disclosed. A week later it emerged that Adelson’s son-in-law, Patrick Dumont, had arranged the acquisition. The $140 million transaction was widely regarded as an overpayment and interpreted by analysts as a strategic effort to promote Adelson’s business and political objectives.

Following the takeover, the newspaper’s editor departed through a voluntary buyout. In January 2016, editorial guidelines were introduced to preserve journalistic independence and manage potential conflicts arising from Adelson’s ownership. However, by February, new publisher Craig Moon—formerly with Gannett—retracted these guidelines and began personally reviewing and occasionally suppressing articles related to Adelson’s ventures, including coverage of a proposed Las Vegas football stadium. Reports indicate that stories involving Adelson, particularly those concerning litigation linked to his Macau operations, were subject to stringent editorial oversight.

Numerous journalists and editors resigned citing limitations on editorial freedom and questionable management practices. The three reporters who initially revealed Adelson’s ownership left the paper, while longtime columnist John L. Smith resigned after being prohibited from writing about Adelson.

Under Adelson’s control, the Las Vegas Review-Journal became the first major U.S. newspaper to endorse Donald Trump during the 2016 presidential election.

U.S. policy on Iran

At a panel discussion held at Yeshiva University in October 2013, Adelson called for the United States to adopt a more assertive approach toward Iran's alleged nuclear weapons development. He proposed demonstrating military strength, including a symbolic nuclear strike in a remote desert location, followed by a conditional assurance to uphold Iran’s right to peaceful nuclear technology if it ceased its weapons program. A spokesperson for Adelson later explained this was an exaggerated statement meant to highlight the importance of decisive action over mere rhetoric.

DeLay controversy

During the Suen trial, Bill Weidner, president of Adelson's company Las Vegas Sands, testified about a telephone conversation between Adelson and then-House Majority Leader Tom DeLay (R-TX). The discussion concerned legislation introduced by Representative Tom Lantos (D) that sought to prevent the U.S. Olympic Committee from endorsing Beijing’s bid for the 2008 Olympics. DeLay assured Adelson that the bill "would never see the light of day." Although the resolution did not pass, Adelson testified that this resulted from other legislative priorities rather than any intervention by DeLay on his behalf.

Cannabis

Adelson’s opposition to cannabis legalization was deeply influenced by personal loss, as his son Mitchell died from an overdose involving heroin and cocaine. Mitchell’s early experimentation with drugs reinforced Adelson’s conviction that cannabis serves as a gateway drug. Reflecting this belief, he provided financial support to campaigns opposing cannabis legalization.

Israeli-American Council

At the 2017 November conference of the Israeli-American Council (IAC), Adelson urged transforming the organization into a political advocacy group concentrating on Israel-related issues. Unlike the American Israel Public Affairs Committee (AIPAC), which endorses a two-state solution and aid to the Palestinians, Adelson encouraged IAC to reject these policies, consistent with his own opposition to a two-state framework. Israeli journalist Chemi Shalev criticized this direction, asserting that Adelson had effectively "hijacked" IAC to advance his "hard-right agenda."

Internet gambling

In his later years, Adelson was a vocal opponent of internet gambling, investing substantial resources in political efforts aimed at reversing state laws legalizing online betting. Despite many Las Vegas casino executives accepting online gambling, he supported the 2015 Restore America's Wire Act legislation in the U.S. House of Representatives, which sought to limit online gambling—a position that elicited mixed responses within the Republican Party.

Honors

Adelson and his wife Miriam were recipients of the Woodrow Wilson Award for Corporate Citizenship from the Woodrow Wilson International Center for Scholars in 2008. He also received the Chairman's Award from the Nevada Policy Research Institute for his advocacy of free market principles in Nevada. In 2014, CNBC included Adelson among 200 individuals recognized for transforming business over the preceding 25 years.

Involvement in politics

According to The New Yorker, Adelson began making significant donations to the Republican National Committee following labor disputes at his Las Vegas properties. Former Nevada congresswoman Shelley Berkley, who worked with him during the 1990s, stated that Adelson sought to "break the back of the union" and thereby weaken Democrats, reflecting his anti-union views. She also described him as aiming to dominate politics through financial influence.

In 2012, Adelson told Forbes that although he opposed wealthy individuals influencing elections excessively, he would participate within legal bounds, contrasting his open approach with others such as George Soros.

In 2005, both Adelson and his wife donated $250,000 each to the second inauguration of George W. Bush. President Bush appointed them to serve on the Honorary Delegation commemorating Israel's 60th anniversary in 2008.

He was the primary financial supporter of Freedom's Watch, a conservative advocacy organization opposing George Soros and left-leaning groups, funding nearly all of its $30 million expenditure during the 2008 elections.

In 2010, Adelson contributed $1 million toward Republican former Speaker Newt Gingrich. He endorsed Gingrich’s controversial comments regarding Palestinians during Gingrich’s 2012 presidential bid and donated to various congressional candidates.

Throughout the 2012 Republican primaries, Adelson initially supported Gingrich before shifting backing to Mitt Romney, ultimately spending $92 million on candidates who did not win. He donated $5 million to Gingrich’s super PAC Winning Our Future, with an additional $5 million from his wife supporting pro-Gingrich messaging. Furthermore, he gave $5 million to the super PAC Congressional Leadership Fund and over $60,000 directly to the Republican National Committee.

In June 2012, he contributed $10 million to Romney’s super PAC Restore Our Future and attended a fundraiser in Jerusalem alongside other top donors. Bloomberg observed that Adelson’s investments in Chinese casinos aligned with Romney’s position on China’s currency policies.

In 2014, he donated $4 million opposing medical marijuana legalization efforts in Florida.

Ahead of the 2016 election cycle, Adelson sought a mainstream Republican candidate with strong winning potential. He hosted private meetings with contenders including Donald Trump at his Venetian Las Vegas hotel—a contest for his endorsement dubbed "The Adelson Primary". In May 2016, he endorsed Trump and pledged up to $100 million toward his campaign. Subsequently, he was recognized as one of Trump’s key financial backers.

In October 2016, he donated $1 million opposing marijuana legalization in Massachusetts and $1.5 million against Florida’s medical marijuana initiative.

Although initially abstaining from early primary involvement in 2016, Adelson eventually supported Trump citing his CEO experience as essential for presidential leadership.

During the 2018 midterm elections, Adelson contributed approximately $113 million through conservative super PACs supporting Republican candidates.

In January 2019, he and his wife gave $500,000 to the Patriot Legal Expense Fund Trust aiding aides under investigation during the Mueller inquiry.

Prior to the 2020 elections, projections estimated Adelson would donate around $200 million supporting Trump and GOP efforts. Despite reported tensions between Trump and Adelson concerning donations, he provided $75 million in October 2020 to a Trump-affiliated PAC and an additional $35 million later that month distributed among Republican super PACs including Preserve America and Senate Leadership Fund.

Donations

On September 23, 2016, Adelson revealed a $25 million contribution to Donald Trump's campaign, part of an overall $65 million donation supporting Republican causes during that election cycle, making him the top individual donor across both parties. He also emerged as the largest benefactor for Trump's inaugural events, providing $5 million in funding.

Between 2010 and 2020, federal disclosures indicate that Adelson and his spouse gave in excess of $500 million to Republican candidates and super PACs.

Since 2007, the Adelson Family Foundation has allocated $140 million to Birthright Israel, facilitating trips for young Jewish individuals. Additionally, Adelson contributed $5 million in 2014 to Friends of the Israel Defense Forces, and invested more than $25 million in constructing The Adelson Educational Campus high school located in Las Vegas. In 2006, he donated $25 million to Yad Vashem, the Holocaust remembrance center.

He financed the Boston-based Miriam and Sheldon G. Adelson Medical Research Foundation, which launched a neural repair initiative backed by a $7.5 million grant distributed among ten universities.

Marriages

During the 1970s, Sheldon resided in Massachusetts with his then-wife Sandra and her three children, whom he legally adopted; their marriage ended in divorce in 1988.

In 1991, he wed Dr. Miriam Farbstein Ochshorn after meeting her on a blind date. Miriam, previously married with two daughters, was born in Mandatory Palestine in 1945. She trained as an internist and established substance abuse treatment centers before co-founding their Las Vegas-based research clinic in 2000.

Litigation

A profile from 2008 highlighted various legal disputes involving Adelson. Hong Kong businessman Richard Suen filed suit over Macau casino transactions; although initial judgments awarded Suen millions, appeals led to retrials that resulted in verdicts exceeding $100 million against Adelson. Additional claims from other supposed intermediaries seek damages surpassing $450 million.

In 2013, Las Vegas Sands acknowledged likely breaches of anti-bribery statutes connected to dealings with Chinese officials during Macau casino licensing procedures.

Adelson prevailed in a defamation case against London's Daily Mail, which had accused him of corrupt business conduct and political influence-buying; he was awarded close to £4 million, which he committed to charitable causes.

Following libel threats from Adelson in 2012, the Democratic Congressional Campaign Committee withdrew posts alleging improper donations; however, a defamation lawsuit against the National Jewish Democratic Council was dismissed with costs imposed on Adelson.

Prior to his passing, he was slated to provide testimony in Israeli Prime Minister Benjamin Netanyahu’s corruption trial.

Wealth

In 2007, Forbes valued Adelson’s net worth at $26.5 billion, ranking him as the third wealthiest individual in the United States. His fortune suffered a significant decline during the financial crisis—losing up to $25 billion by 2009—but rebounded by 2011 when he was ranked as the world’s 16th richest person with an estimated $23.3 billion. His wealth increased again by 2013 due primarily to successful ventures in Macau and Singapore casinos, reaching approximately $37.2 billion; by late 2014 it was estimated at around $30.4 billion.

Adelson possessed several private jets through Las Vegas Sands; notably, his Airbus A340-500 set a record for the longest nonstop flight departing Ben Gurion International Airport—from Israel to Honolulu via an Arctic route—in January 2017.

Illness and passing

In 2001, Adelson received a diagnosis of peripheral neuropathy, which significantly affected his ability to move.

On February 28, 2019, Las Vegas Sands revealed that Adelson was being treated for non-Hodgkin's lymphoma. This announcement came after a legal proceeding during which an attorney indicated that Adelson was too frail to participate in a deposition. Ron Reese, a spokesperson for Sands, explained that although the side effects of his treatment limited his travel and time spent in the office, they did not impede his capacity to perform his responsibilities as chairman and CEO.

Adelson passed away on January 11, 2021, at the age of 87 in his Malibu residence following prolonged health challenges.

His remains were transported to Israel on January 14, 2021. Covered with the flags of both the United States and Israel, his casket was presented at Ben Gurion Airport, where Prime Minister Benjamin Netanyahu paid tribute. The subsequent day, Adelson was interred in a private service at the Mount of Olives located in East Jerusalem.

See also

• List of people and organizations named in the Paradise Papers

External links

• Campaign contributions in 2012 to outside spending groups at OpenSecrets