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Sheldon Adelson: Las Vegas Sands
built 635 days ago
Forbes recently listed Adelson as the sixth richest person in the world, with $26.5 billion in assets. He's made his fortune mainly off of hotel-casinos and owns the Las Vegas Sands company. Stone reports that Adelson doesn't serve on Freedom's Watch's board of directors, but "the group’s chairman is Bill Weidner, president of the Las Vegas Sands."
On this, the points on the scoreboard back up Adelson. Based on his 86% ownership of the Las Vegas Sands, which he finally took public last December in one of the year's hottest IPOs, Adelson today has a net worth of more than $10 billion, which makes him much richer than Wynn (whose estimated fortune is just under $2 billion). His company ... plays in a different league. With only two casino properties and one expo center, some 11,000 employees, and projected annual revenues of roughly $2 billion next year, Las Vegas Sands enjoys an $11 billion market capitalization, which is more than twice as big as Wynn's and just behind that of the two much larger, merger-fattened industry giants: Harrah's and MGM Mirage.
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