Casino Owners Story: Sheldon Adelson

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Casinos are places where big dreams are in the air. Rises and falls do happen too, but the invisible power that drives every roulette wheel or cards shuffle is the power of a dream! So, what would you do if you had $100 million? Of course, you also have your own version of what you could do with such a sum of money. Some people would help others to stay alive or to get an education, or even to build a new home. That’s philanthropy. On the other hand, others are prepared only to please themselves, and to let the whole sum of money go to waste. And some people would buy a few businesses and spend the rest of their lives doing whatever they like. Another great option is to buy a casino. Then you’ll never have to worry about your chances of ever winning big again!

However, real casino owners think and act differently from many of the people we’ve just mentioned above. And perhaps that’s the reason they always manage to bring in insane revenues that billions of people can’t even dream about!

They are unusual people in this world who do completely different things. And as a result, they do tend to win in the long run. People like casino owners don’t just own a business; instead they built a whole new island with a strip of casinos on it. Today, we’ll tell you the story of such a casino owner. His name is Sheldon Adelson.

The Family and Childhood of Sheldon Adelson

The truth is, Adelson wasn’t even a mediocre American billionaire until his 50s. Yet, there were some personal traits that did help steer him the whole way along this bumpy road to his $38.8 billion net worth. Persistence, faith, independence; maybe you’ll be able to spot some more qualities as well, as we proceed! Anyway, it’s worth mentioning that this all started when he was a kid. Perhaps he even knew way back then that he wasn’t going to stop until he finally made it to the top (notably, he never stops even when you think he’s on top; he’s always pushing to get even higher!) And he doesn’t care about what everybody else is doing or saying. So let’s start exploring how Sheldon Adelson started his unbelievably successful chain of businesses…

Trusted sources report that Adelson earns $11 million every single hour. It’s easy to believe such statistics when you think of all the casinos that he owns: Las Vegas Sands chain, Wynn resorts, the Venetian and the Parisian in Macau (as well as the whole strip of casinos on a newly made piece of island), Marina Bay Sands in Singapore. Yet, he was born in a poor family of Jewish immigrants, as a first-generation American. His father was a taxi driver who wasn’t making too much money; plus, he had to give significant sums to local racketeers.

So this boy wasn’t ready to be a victim of the local way of life in Boston; he decided to find his own ways of breaking free. At the time, he was selling daily newspapers on the streets, as many other boys did. One day he figured that a few boys could definitely sell more newspapers than him alone. He knew he was capable of perfectly organizing a group of newspaper sellers; even so, he still needed this to be a profitable venture for him. So Adelson called his friends and gave them the newspapers he had to sell; but on the condition of sharing the income for any items sold. These boys eventually became his trusted partners for a lifetime. Later, he went through challenges of many of his other ventures – toiletry products, vending machines, charter tours, and many others. Maybe one of the keys to his success also hid in this dedicated team that were prepared to follow him anywhere?

Sheldon Adelson Becomes Rich and Powerful

In the late 1970s, another money-making idea came to the mind of Sheldon Adelson. He already had experience of hosting corporate jets for large businesses. So, he thought, why not organize a once-in-a-year event where all the key people of the area would meet and make meaningful connections; at the same time monitoring “keeping up with the Joneses,” which means getting to know what your competitors are up to. At the time, the rising IT industry seemed to be the most promising and most widely talked about. So Adelson created a COMDEX trade show. First off, he rented space in some convention centers in Vegas; but then he decided he’d buy an area for hosting various shows throughout the year. Incidentally, at the time, no convention centers without casino buildings were being sold in Vegas at the time.

So Sheldon found a great place: Las Vegas Sands. It was one of the oldest venues, yet it was slowly coming to a natural end. He razed the hotel and then… no, he didn’t continue his trade show business. Because he never does what everybody else expects him to do. Instead, Adelson sold COMDEX and then built a totally new Las Vegas Sands resort, which later became a large corporation, including many stunning casinos across the world. Most of those casinos were worth no less than a few billion dollars to build. And they’re still among the world’s largest resorts, to boot! For example, the Venetian Macau mimics real Venice up to the very smallest details; plus this hotel building is the largest in the world, in terms of its floor space.

Sheldon says, he was inspired by his grandpa, who did a simple game of chance and then made money on it on the local fair. It was all about the theory of large numbers, and Adelson certainly found a way of making money by using this theory in the casino business. At the same time, not all of his rival casino owners were as successful as Adelson; that’s why we tend to think that his important talent (being a smart strategist!) has played a big part in ensuring his success in the casino business. Sheldon himself says that it doesn’t matter what kind of business you run, as long as you know how to do it well. So, in case you were wondering, let’s have a look now at all the secrets of success from Sheldon Adelson we’ve collected for you!

Sheldon Adelson: the Secret of His Success

From making the largest donations to Donald Trump’s presidential campaign to building a whole new island of casinos – when it comes to money-making, Sheldon Adelson really does seem to have a sixth sense! But how does he manage to smell success at every single business step he takes? We reviewed lots of his interviews, and here’s what we collected.

Journalists point out ten secrets to the success of Sheldon Adelson:

1. Do things differently – never be satisfied with the status quo
2. Know how to run a business
3. Dream big
4. Never lie
5. Necessity is the mother of invention
6. Don’t compromise
7. Support the community
8. Think long term
9. Be fearless
10. Don’t do it for the money

Although Sheldon Adelson is judged by many people for supporting certain political candidates, buying Israeli newspapers, and so on, he believes that everything he does is for the good of mankind. By supporting Republicans, he hopes to decrease threats like the probability of nuclear war and the dangers of marijuana legalization. And while his businesses continue to bring in more and more money, he claims that this all happens because he doesn’t think of money when making decisions. Instead, he sets long term goals that will benefit not just him or his children but hopefully, everybody else among the 7 billion people in our world as well.

People Often Ask:

• Which casinos does Sheldon Adelson own?

Sheldon Adelson is currently the CEO of the Sands Convention & Expo Center, the Venetian Las Vegas, Sands Macau, Venetian Macau, Palazzo Las Vegas, Plaza Macau, Parisian Macau, Sands Cotai Central, and Marina Bay Sands.

• How rich is Sheldon Adelson?

The recently calculated net worth of Sheldon Adelson is $34.5 billion dollars. However, just a few short years ago, it was a little bigger, matching his own personal record of $38.8 billion.

• How did Sheldon Adelson make his money?

Before making really big money, Adelson gained some experience in running other businesses. The estimated total number of those businesses is as high as 50 companies in various different areas. Just like Colonel Sanders with KFC, Sheldon had to overcome a few success and setbacks before finding his true passion.

• How much did Sheldon Adelson donate to Trump?

Adelson donated nearly $25 million to Donald Trump’s presidential campaign. However, other sources report that he also donated at least $15 million to the Republican election festivities and a total of $100 billion to the GOP throughout 2012-2016.