Sheldon Adelson of Republican kingmaker and casino magnate has died at the age of 87

He grew up in Boston from a rigorous childhood and became one of the richest people in the world as founder and CEO Las Vegas Sand Corp ()LVS) He was the first employee of Sands, which has since grown to 50,000 employees.

“Their impact on the industry will be sustainable,” the company said. Sands shares opened slightly higher on Tuesday.

Adelson’s funeral was carried out by his wife, Drs. Will be in Israel, the birthplace of Mary Adelson. A memorial is planned in Las Vegas, where he runs the Venice and Palazzo casinos, to be held at a later date.

GOP donor

Adelson spent his fortune – a $ 35 billion salary by Forbes – to become an influential behind-the-scenes player in Washington, working to shape American policy toward Israel, directing Republican strategy and his Advocating threats to business interests. .

He donated hundreds of millions of dollars to medical research and Jewish causes. He was the owner of Israel’s largest daily newspaper by circulation; Donated to Wad Washam, the Holocaust remembrance center in Jerusalem; And helped reduce birthright Israel, which pays for educational visits to Israel for young Jewish adults.

Israeli Prime Minister Benjamin Netanyahu on Tuesday described his “deep sorrow and heartbreak” over Adelson’s death.

Netanyahu said in a statement, “Many of the Jewish people in the state of Israel and all over the world, take part in this heavy mourning.” “Sheldon’s efforts to strengthen Israel’s position in the United States and the relationship between Israelis and diaspora will be remembered for generations.”

But he was perhaps best known in the United States as a Republican mega-donor whose millions helped shape presidential and congressional elections in the post-citizenship era.

Adelson and his wife, Maryam, donated millions of dollars to the Republican-aligned Super PAC. He amassed more than $ 215 million in federal super PACs over the past two years, making him the largest publicly disclosed donor of the 2020 election, according to the Irresponsible Center for Responsive Politics.

Adelson did not always support the front-runner in GOP intra-class fights.

For example, in the 2012 Republican presidential primary, Adelson invested heavily in a super PAC that helped extend the term of the presidency of former House Speaker Newt Gingrich.

Gingrich eventually lost the nomination for Mitt Romney, but Adelson’s spending reduced his loyalty to Gingrich, with whom he shared a disgusting stance on Israel.

Trump mentor

In 2016, Adelson emerged as a powerful voice in support of candidate Donald Trump at a time when many GOP traditional donors were reluctant to support the Brash real estate developer.

In May 2016, as Trump received the Republican presidential nomination, Adelson gave a Washington Post opinion piece urging the party’s financial beneficiaries to unite Trump after the primary.

Adelson called Trump a “CEO success story.”

“You may not like Trump’s style or what he says on Twitter, but this country needs more strong executive leadership than today at almost any point in its history,” Adelson wrote.

Later that year, Adelson donated $ 20 million to a super PAC supporting Trump’s candidacy. Adelson became the largest person to donate $ 5 million to the presidential inauguration committee.

Edelson was rewarded for his generosity.

He attended Trump’s inauguration, dined at the White House and had front-row seats in 2018 as US officials opened an American embassy in Jerusalem – a long-time Adelson objective.
In a White House ceremony in 2018, Trump awarded the Presidential Medal, the nation’s highest civilian honor, to Israel-born Mary Adelson. The White House cited medical research and its work to support the Jewish cause.

In a statement on Tuesday afternoon, Trump said the world had “lost a great man” and that Edelson would be “missed”. She said that Sheldon “lived the true American dream.”

rags to riches

Adelson was born on August 4, 1933 in Boston. His father, an immigrant from Lithuania, drove a cab, and his mother, whose family came from Wales, ran a short night service. He and his siblings slept on the floor of the family’s tenement apartment.

Adelson often told his rags-to-riches story and his determination to get out of poverty.

At the age of 12, he was selling newspapers on street corners in Boston. By 16, he had invested in candy machines. After a stint in the military, he continued to run businesses, selling condominiums, working as a mortgage broker, and taking a turn as a venture capitalist.

“Despite being the grandson of a Welsh coal miner and the son of a Boston cab driver, I have the remarkable experience of being part of nearly 50 different businesses in my 70-year business career,” he wrote in Washington, Trump’s Post Peace.

His big break came in the late 1970s, when he launched a computer trade show called Comdex. He sold it for about $ 900 million in 1995, incorporating that convention business into a casino empire that included properties in Asia, and the upscale Venetian and Palazzo resorts in Las Vegas. His venture became the largest casino company in the world.

His property originated from the Opiant Venetian Casino Resort in Las Vegas, where visitors can ride in Gondol, to a string of attractive casinos in Macao’s Chinese gambling enclave.

In October 2020, the company told several outlets that it was in “very early discussions” about a possible sale of its Las Vegas properties. He sold the Sands to Bethlehem in Pennsylvania in 2019.

In person, Adelson was instantly recognizable for his thin patch of bright red hair and the electric scooter where he rode everywhere. He suffered from peripheral neuropathy, a condition that made walking difficult.

He generally shied away from media interviews.

His family was involved in the 2015 purchase of the Las Vegas Review-Journal, one of his 2015 hometown newspapers, forcing journalists on paper to determine the identity of their new bosses.

During its cancer fight, Adelson had set up the company he founded, halting his office hours, although the company said in a statement that Adelson continued to perform his duties as its president and CEO.

Calling his accomplishments in the hospitality industry “well-documented”, the company said Adelson’s vision “changed the industry, the company he founded” in Las Vegas, Macao and Singapore, and redefined tourism did “.

– CNN’s Andrew Carry and Amir Tal contributed to this report.


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