Sheldon Adelson

Sheldon Adelson
Born	Sheldon Gary Adelson 8/4/1933
Birthplace	Boston, Massachusetts, U.S.
Died	1/11/2021 Malibu, California, U.S.
Nationality	American
Occupation	Business executive, investor, political donor
Known for	Founder, Chairman and CEO of Las Vegas Sands Corporation
Awards	Woodrow Wilson Award (2010)

Sheldon Gary Adelson (August 4, 1933 – January 11, 2021) was an American businessman, investor, newspaper publisher, and political donor who rose from modest beginnings in a working-class neighborhood of Boston to become one of the wealthiest people in the world. He was the founder, chairman, and chief executive officer of Las Vegas Sands Corporation, a multinational casino and resort company whose properties included The Venetian Las Vegas, the Sands Expo and Convention Center, and the Marina Bay Sands in Singapore. Through his company's subsidiary, Venetian Macao Limited, Adelson also oversaw a vast gaming and hospitality empire in Macau, China. Beyond the casino industry, he owned multiple newspapers, including the Israeli free daily Israel Hayom, the Israeli weekly Makor Rishon, and the American daily Las Vegas Review-Journal. Adelson was one of the most prolific donors in American conservative politics, contributing hundreds of millions of dollars to Republican Party candidates and causes over the course of his career. He was Donald Trump's largest donor in both the 2016 and 2020 presidential campaigns. He was also a significant supporter of Israel and its prime minister Benjamin Netanyahu. At the time of his death, Forbes estimated his net worth at approximately US$35 billion, making him one of the richest people in the United States.

Early Life

Sheldon Gary Adelson was born on August 4, 1933, in the Dorchester neighborhood of Boston, Massachusetts. He grew up in a low-income family. His father was a taxi driver, and the family lived in modest circumstances throughout his childhood. Despite the economic hardships of the era, Adelson demonstrated an early aptitude for business and entrepreneurship.

Adelson began working at a young age, reportedly selling newspapers on street corners as a boy in Boston. This early exposure to commerce and self-reliance would shape his approach to business throughout his life. He displayed a restless entrepreneurial drive from his youth, pursuing various ventures before finding his way to the convention and casino industries that would make him a billionaire.

Growing up in a Jewish family in Boston, Adelson's identity and heritage would later play a significant role in his philanthropic and political activities, particularly his support for the State of Israel and Jewish causes around the world.

Career

Early Business Ventures

Before entering the casino and hospitality industry, Adelson pursued a wide range of business ventures. He has been described as having started, invested in, or been involved with approximately fifty different businesses over the course of his career. These ranged from selling toiletry kits to mortgage brokerage, and from tour operation to financial consulting. While not all of these early enterprises were successful, they provided Adelson with experience in sales, negotiation, and business development that would prove invaluable in his later career.

One of Adelson's most significant early business undertakings was his involvement in the trade show industry. He co-founded the computer trade show COMDEX (Computer Dealers' Exhibition), which became one of the largest and most influential technology trade shows in the world during the 1980s and 1990s. The success of COMDEX gave Adelson significant capital and industry connections, and it also connected him to the convention and exposition business that would lead to his next major venture.

Las Vegas Sands Corporation

Adelson's entry into the Las Vegas casino market came when he purchased the Sands Hotel and Casino on the Las Vegas Strip. He subsequently demolished the aging property and replaced it with The Venetian Las Vegas, an opulent Italian-themed mega-resort that opened in 1999. The Venetian, with its elaborate recreation of Venetian landmarks including a replica of St. Mark's Square and gondola rides along indoor canals, represented a new model of Las Vegas hospitality—one that combined luxury accommodations with convention space and high-end retail.

Adelson also developed the Sands Expo and Convention Center, which became one of the largest privately owned convention centers in the United States. The combination of the convention center with The Venetian resort reflected Adelson's understanding, forged during his COMDEX years, of the synergies between the convention business and the hospitality industry.

As founder, chairman, and chief executive officer of Las Vegas Sands Corporation, Adelson built the company into one of the world's largest casino and resort enterprises. Las Vegas Sands went public on the New York Stock Exchange and grew to become a multi-billion-dollar corporation with properties spanning multiple continents.

Expansion into Asia

Adelson's ambitions extended well beyond the Las Vegas Strip. Recognizing the enormous potential of the Asian gaming market, he aggressively pursued expansion into Macau, the special administrative region of China that serves as the only jurisdiction in the country where casino gambling is legal. Through the subsidiary Venetian Macao Limited, Las Vegas Sands developed The Venetian Macao, a massive integrated resort that opened in 2007 and became one of the largest casino properties in the world.

The Macau operations proved enormously profitable and became a major driver of Las Vegas Sands' revenue. The company developed multiple properties in the region, collectively known as the Sands China portfolio, which attracted millions of visitors annually from mainland China and other parts of Asia.

Adelson also oversaw the development of the Marina Bay Sands in Singapore, which opened in 2010. The Marina Bay Sands, with its distinctive three-tower design topped by a sky park, became an iconic landmark of the Singapore skyline and one of the most expensive standalone casino properties ever built. The resort included a luxury hotel, convention center, shopping mall, museum, and one of the world's most recognizable infinity pools.

The Asian expansion transformed Las Vegas Sands from a primarily domestic operator into a global hospitality and gaming powerhouse. By the time of Adelson's death, the company's Asian properties generated the majority of its revenue.

Sands Casino Resort Bethlehem

In addition to his flagship properties in Las Vegas and Asia, Adelson expanded Las Vegas Sands' footprint in the United States with the development of the Sands Casino Resort Bethlehem in Bethlehem, Pennsylvania. The property, which opened in 2009, was built on the site of the former Bethlehem Steel plant, one of the most iconic industrial sites in American history. The development represented a significant economic investment in the Lehigh Valley region of eastern Pennsylvania.

Media Ownership

Adelson was also a significant figure in the newspaper industry. He founded Israel Hayom, a free daily newspaper distributed throughout Israel, which became the most widely circulated newspaper in the country. The newspaper, whose name translates to "Israel Today," was viewed by critics as a vehicle for promoting the political interests of Prime Minister Benjamin Netanyahu and the Likud party, though Adelson maintained it was an independent journalistic enterprise.

Adelson also owned Makor Rishon, an Israeli weekly newspaper. In the United States, he purchased the Las Vegas Review-Journal, the largest daily newspaper in Nevada, in 2015. The acquisition attracted attention in part because it was initially conducted in secrecy, with Adelson's involvement not immediately disclosed to the newspaper's staff or readers.

Political Activities

Republican Party Donations

Sheldon Adelson was one of the most prolific political donors in the history of the United States, contributing hundreds of millions of dollars to Republican Party candidates, super PACs, and conservative causes over the course of his career. His enormous financial contributions led him to be frequently described as a political "kingmaker" due to the size and frequency of his donations and the access they afforded him to top-tier political figures.

Adelson's political contributions were directed almost exclusively toward the Republican Party and conservative causes. He was a significant donor during multiple presidential election cycles, backing candidates who aligned with his views on issues including free enterprise, opposition to unions, and strong support for Israel.

During the 2012 presidential election cycle, Adelson emerged as one of the largest individual political donors in the country, contributing tens of millions of dollars first to the super PAC supporting Newt Gingrich's presidential primary campaign and later to efforts supporting the general election campaign of Mitt Romney.

Support for Donald Trump

Adelson's most consequential political relationship in his later years was with Donald Trump. Adelson became Trump's largest donor during the 2016 presidential campaign, providing the single largest donation to the campaign effort. His financial support extended beyond the campaign itself; Adelson was also a major contributor to Trump's presidential inauguration, his legal defense fund during the Mueller investigation into Russian interference in the 2016 election, and his 2020 reelection campaign.

The relationship between Adelson and Trump reflected Adelson's priorities on Israel policy, including the relocation of the United States Embassy in Israel from Tel Aviv to Jerusalem, a move Trump carried out in 2018. Adelson was present at the embassy dedication ceremony.

In 2020, Adelson and his wife Miriam Adelson continued to be among the most significant financial supporters of Trump's reelection bid. Following Sheldon Adelson's death in 2021, Miriam Adelson continued the family's tradition of major Republican political donations, spending more than $100 million to support Trump's 2024 presidential campaign.

Adelson also contributed to the Congressional Leadership Fund, a super PAC aligned with House Republican leadership.

Support for Israel

Beyond domestic American politics, Adelson was deeply involved in supporting the State of Israel and was considered one of the most influential American supporters of the Israeli right. He maintained a close relationship with Prime Minister Benjamin Netanyahu and used both his financial resources and his media properties to advance causes aligned with Netanyahu's Likud party.

Adelson's founding of Israel Hayom was viewed as a significant development in Israeli politics, as the free daily newspaper's wide circulation and perceived editorial alignment with Netanyahu gave the prime minister a powerful media ally. The newspaper's impact on the Israeli media landscape was substantial, as its free distribution model put financial pressure on competing paid publications.

Adelson advocated for a strong United States–Israel relationship and supported policies that aligned with the Israeli right, including opposition to the Iran nuclear deal negotiated during the administration of President Barack Obama and support for Israeli sovereignty claims.

Philanthropy

Adelson and his wife Miriam Adelson created the Adelson Foundation in 2007, a private charitable organization focused on healthcare, support for Israel and the Jewish people, and various educational initiatives. The foundation became one of the larger philanthropic vehicles in the United States, distributing hundreds of millions of dollars to various causes.

Among the Adelson Foundation's areas of focus was support for programs addressing substance abuse and addiction. Miriam Adelson, a physician, brought professional expertise to this area of the foundation's work. The foundation also supported Birthright Israel, a program that provides free trips to Israel for young Jewish adults, and various medical research initiatives.

The Jewish Federations of North America, upon Adelson's death, noted his "profound commitment to Jewish peoplehood and the State of Israel," reflecting the centrality of Jewish causes to his philanthropic activity.

Personal Life

Adelson was married twice. His second wife, Miriam Adelson (née Ochshorn), was an Israeli-born physician specializing in addiction medicine. The couple married in 1991 and remained together until his death. Miriam Adelson played an active role in the family's philanthropic and political activities throughout their marriage and continued these activities after his death.

Adelson died on January 11, 2021, in Malibu, California, at the age of 87, from complications related to treatment for non-Hodgkin lymphoma. Las Vegas Sands Corporation announced his death in a statement, describing him as the company's "visionary founder." He was buried on the Mount of Olives in Jerusalem, reflecting his deep personal connection to Israel and the Jewish faith.

In 2020, Forbes listed Adelson's net worth at US$29.8 billion, making him one of the twenty wealthiest people in the United States. He owned more than half of the approximately $14 billion (revenue) Las Vegas Sands Corporation.

Recognition

Adelson received the Woodrow Wilson Award in 2010, an honor recognizing corporate citizenship. He was recognized by various organizations for his philanthropic contributions, particularly those related to Israel and Jewish causes.

The Nevada Policy Research Institute honored Adelson at its past anniversary dinners for his contributions to the state of Nevada and its economic development.

Adelson's death prompted tributes and statements from across the political spectrum. The Jewish Federations of North America issued a mourning statement acknowledging his contributions to Jewish communal life and the State of Israel. Republican political figures with whom he had maintained relationships also paid tribute to his role in conservative politics and philanthropy.

Legacy

Sheldon Adelson's legacy encompasses his transformation of the Las Vegas hospitality industry, his pioneering role in the globalization of the casino business, his substantial influence on American conservative politics, and his philanthropic contributions to Israel and Jewish causes.

In the gaming and hospitality industry, Adelson's development of The Venetian Las Vegas and the Sands Expo and Convention Center helped redefine the Las Vegas Strip, demonstrating the viability of combining luxury resort accommodations with large-scale convention facilities. His expansion into Macau and Singapore opened new frontiers for American gaming companies in Asia and helped establish the integrated resort model that has since been adopted worldwide.

In American politics, Adelson's enormous financial contributions reshaped expectations about the scale of individual political donations in the post-Citizens United era. His willingness to commit tens of millions of dollars to individual candidates and causes made him one of the most consequential political donors in American history, and his influence on Republican Party politics, particularly regarding Israel policy, was substantial.

Las Vegas Sands Corporation, which Adelson built from the ground up, continued to operate as a major global hospitality and gaming company after his death. His wife, Miriam Adelson, inherited his stake in the company and continued to be a major force in both the business and political spheres, becoming the largest donor to Donald Trump's 2024 presidential campaign.

Adelson's founding of Israel Hayom had a lasting impact on the Israeli media landscape, fundamentally altering the economics of the Israeli newspaper industry and providing a platform that reshaped political media discourse in the country.