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Sheldon Adelson: World
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On Friday, businessman Sheldon Adelson, considered the richest Jew in the world, will take the stand in the Tel Aviv Labor Court before Judge Ilan Itach. He will be asked to give evidence in a suit against him
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Sheldon Adelson's hardly a household name even if he has moved into third place as the richest man in the United States. While his fame factor may not be so high, his list of achievements in the resort and casino industry is extensive and impressive. Prior to his foray into that world, he had founded and/or developed more than 50 companies of varying degrees of success and failure.
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A half-century later, Adelson recalls, he was drawn to another chance to turn a profit when Chinese officials took him to a planned landfill site in the South China Sea off Macau. The chairman of Las Vegas Sands Corp., the world's fastest-growing casino company, envisioned the biggest gambling resort ever.
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According to Forbes Magazine, Adelson is the 3rd richest person in the world with a net worth estimated at $20.5 billion. His wealth in 2003 was only $1.4 billion [1]; in 2004, his fortune increased 750% after his company started publicly trading. [2]. He is the third richest man in the US in 2006 and Forbes estimates he has been earning about $1m an hour for the past two years3.
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Adelson says he has no natural attraction to gambling. After attending City College of New York, he worked as an ad salesman, investment adviser, real estate investor and magazine publisher. Then, he discovered the convention business and in 1979 founded Comdex, a computer expo that became the world's largest trade show.
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Throughout his life, Adelson has built over fifty different companies, including the Computer Dealers Exposition (COMDEX), designed to bring computer manufacturers and resellers together. Today, COMDEX is the world’s largest computer trade show and operates in over twenty countries.
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