The Richest Person in Las Vegas
Forbes list of the 400 richest Americans includes many names familiar to locals like Kirk Kerkorian, Bill Boyd and Steve Wynn. But it is Wynn's less-than-friendly competitor Sheldon Adelson (who controls the Venetian) who easily answers the question: who is the richest person in Las Vegas? Adelson appears just after Bill Gates and Warren Buffett on the list, and at No. 3, Adelson is the only local in the top 10. Wynn, for example, is not even close at No. 107.
Despite all his success here (dating back to the Comdex convention he founded in the '80s and sold at a premium in the '90s) Adelson, a City College of New York dropout, continues to see himself as a barbarian at Las Vegas' gate. Adelson tells Forbes, "I loved being the outsider. I didn't care what those guys said." That means, among other things, the Venetian is the only non-union property on the Strip.
Interestingly, Adelson's fortune has increased enormously not so much because of his faith in Vegas, but because of his early investment in Macau, according to Forbes. Even the magazine is blown away by Adelson's riches:
"He’s been getting rich faster than, as far as we can tell, anyone in history. Over the past two years Adelson has made $23.6 million a day — just under $1 million a hour. At that pace he’ll eclipse Bill Gates as the richest man in the country sometime in 2012."



Interesting as this is, it doesn't point out the downside...there are only, basically, two owners of Vegas. You can't even get a beer for less than $6.50... It's not such a great place to party anymore and the strip has gotten old for frequent visitors.
BB1
Posted by: Beach | September 24, 2006 at 07:55 AM
Ever actually seen Sheldon Andelson ? He's this short fat guy who waddles around like Burgess Meredith as "the Penguin", looking like he's headed to the set of "The Wizard of Oz" to play one of the Munchkins. Oh, in the company of his mean-looking Israeli Mossad bodyguards, everywhere he goes. And now, incredibly, he's the third-richest man in America, right after Bill Gates and Warren Buffet. All for owning two hotels ! How can one man be worth $20 billion dollars when millions of children on this planet go to bed starving every night ? Are people in this country so zombified and bought out & corrupted by mass consumerism that this does not shock us ? Is this really what we want, folks, as the glory of America, and the victory of Capitalism ..
Posted by: RussBBinVegas@aol.com | September 24, 2006 at 09:10 AM
so he is short & fat, not unlike your hero Karl Marx?
he doesnt deserve to be rich because you dont think he's cute?
Posted by: anthony | September 24, 2006 at 07:31 PM
I don't know what percentage of his income Mr. Adelson donates to charity, but I can tell you that Mr. Gates and Mr. Buffett's charitable efforts are substantial. The Gates foundation, alone, has done more to fund education than any other non-government entity in the world over the last five years.
You show your bias with the completely irrelevant personal attacks on Adelson's looks. Should only pretty people be allowed to be rich? Is that it?
To answer your question about how one man can be worth $20 billion while millions starve, it's quite simple really. It's called the magic of the free market. Adelson made his money by working hard and making smart business decisions. He knew a large segment of Americans would be willing to pay exorbitant hotel fees to gamble in Las Vegas several weekends a year. He knew how to capitalize on conventions and other business opportunities at his hotel properties. And because he was ahead of everyone else he was rewarded.
While it's certainly sad that millions starve weekly in Africa, the fact that Mr. Adelson has come up with a great business plan half a world away isn't responsible for that third-world suffering and there's probably precious little he can do about it since political stability is the first thing that continent needs before foreign aid can really help alleviate the problems of poverty and mass-starvation.
Posted by: Bill | September 25, 2006 at 07:48 AM
Yep, boy is it ever going to be "the magic of the free market" when America is reduced to two classes, the elite inside their guard-gated luxury golf courses, and the masses in their cheap stucco apartments. The middle class, gone, thanks to our dear Republican leaders, hired by the likes of billionaire Adelson and his oh-so-innocent campaign "contributions". When the California real-estate bubble bursts, like it did from 1990-95, there sure are going to be a lot fewer gamblers screaming in for those $350 rooms at the fake-luxury Venetian. Anyone like to take a bet that Las Vegas in on track to become a ghost town.
Posted by: RussBBinVegas@aol.com | September 25, 2006 at 11:04 AM
Oh, grow up Russ. Republican. Democrat. Independent. Green party. Whatever. Money drives them all. You're just pissed 'cause you can't afford The Venetian!
Posted by: gumballrally427 | September 25, 2006 at 12:04 PM
you can call Sheldon all the names you want, you can compare him to whomever you want.
Bottom line, Hes #3 on the wealthiest list and your not. lol
Posted by: srh61 | September 25, 2006 at 12:35 PM
I love how the people who don't have enough vision to create their own wealth condemn the people who do. In this day and age in America, it easier than ever in history to become independantly wealthy in one generation. I've seen it firsthand. How much money do you give to the starving children of Africa? Not as much as Warren Buffett or Bill Gates, I bet! Have you adopted any starving refugees? Doubt it!
How do you show support for the people you want in office? Do you contribute time or money to their campaigns? They do! What have you contributed to your local community? You get out of Democracy what you put into it, and I am guessing your balance is zero...nothing invested, nothing owed. I am not even a republican, and I understand where they get their power from in this country! Get off your bum and get your own, we live in America, you bitter, lazy, nay-sayers! Go live in a communist country before you diss your home land! Whew! I feel better!
Posted by: Hellomisserika | September 25, 2006 at 02:07 PM
I think it actually should be required that you are attractive in order to have that much money. That's how important I think he is.
Truthfully, a guy should be judged by his actions and throwing a little money at charity for a tax write-off, while making billions on furthering the corruption of society doesn't quite cut it.
Posted by: ns | September 25, 2006 at 02:25 PM
Im just a guest around here and know what? theres one in a billion chance of me ever comming back to visit this place again. but i can tell you this much, you bunch are worrying about things that have nothing to do with you.
now the ones who think that this rich dude is god b'coz he earned it with pure hard work, well quit defending him and get on with you're lives b'coz he definetly dosent know you or care.
and the ones that say that hes a devil? well, how about you stop poking you're nose in other peoples business and start running you're own charities?
right, ill go now. cheers.
Posted by: Mohammed | September 25, 2006 at 02:30 PM
Neither are you. LOL
Posted by: John Cabaret | September 25, 2006 at 02:56 PM
Oy, it's a battle for the bottom! Thanks to everyone sticking up for the rich guys. I'm putting you all in my will.
Fred Engels.
Posted by: John Cabaret | September 25, 2006 at 03:10 PM
I could make him even richer - and set up charitable funds that would give him a tax break and still earn him money . Don't believe it Try Me
www.realvalu.com
Posted by: Realvalu | September 25, 2006 at 05:07 PM
Rock on to all the dorks who love debating,and have the time to waste like I do! You've all made my day! :)
And ROCK ON to all the rich people I look up to...I'll see you at the country club!
Posted by: hellomisserika | September 25, 2006 at 08:51 PM
IY IS ONLY IN THIS GREAT USA , PEOPLE ANALYZE EVERY BODY ELSES BUSINESS BUT NEVER THEIRS . WHO CARES IF HE MAKE A MILLION EVERY HOUR OR EVERY MINUTE. WHO CARES IF HE IS FAT AND SHORT. GOD BLESS HIM. YOU SMART ASSES , HANDSOME TALL, WONDERFULL GUYS TRY TO ANALYZE HIS ACTIONS MAY BE JUST MAY BE YOU MIGHT EARN A MILLION A YEAR
Posted by: DR. H.G. GOUSSOUS | September 25, 2006 at 10:23 PM
How did Sheldon Adelson make it in Vegas?
The way Steve Wynn did -- other people's money (although unlike Wynn, Adelson did not use Michael Milken's 1980s junk bonds).
When he first started building the Venetian in the late 1990s, Adelson made himself a deal in New York (including Goldman, Sacks) where he had to put up just about $90 million to obtain hundreds of millions worth of credit -- and his $90 mil. was not cash but based on the value of the land on the Strip on which the Venetian was built.
And, like Steve Wynn, good luck: right place, right time, and not once but twice -- in Vegas, in the go-go 1990s, and now, in go-go Macau.
And discussing humility with either of them was impossible BEFORE they got super-rich!
Posted by: InVegas | September 26, 2006 at 03:12 PM
Most of you are blowing smoke out of you know where. Adelson is one of the few people who deserves to be rich. He takes care of the people who work for him - how else would he have the only non-union hotel in Vegas. He gives alot to charity and he does not flaunt his wealth. So grow up & stop being jealous.
Posted by: Ron | September 30, 2006 at 09:26 PM
I am doing job in a private company and getting not much salary, which fulfill my day to expenses and my education. I need money to continue my study. I hope that your response will be highly appriciated. For Copletion of my Study i need 3,000 american Dollars. The course in which i want to get master is Cost and Management Accountancy.
I hope your response will be highly appriciated.
Regards,
Nadeem Anwar
Lahore, Pakistan
Posted by: Nadeem Anwar | October 01, 2006 at 01:04 AM
You should ask RussBBin since he loves the poor so much!!
Posted by: Vincent | October 05, 2006 at 05:25 PM
i will like to in ur family of rich man how can i get u.
Posted by: dr wise | November 04, 2006 at 04:03 AM
How do you know how much he donates to anyone? Most of those who really care about people donate their money privately without all the brouhaha. Before talking about such things...you maybe might want to check it out. It will make you look a lot smarter.
Posted by: Babe with Brains | November 04, 2006 at 03:04 PM
i am in a problem.so i want to start my business for which i want money.i am from a poor background.so plez help me.i need $100000 to start a business.i want to help others who are also poor so plez help me
Posted by: Barun | November 07, 2006 at 09:56 PM
To
Mr. Sheldon Adelson
Sir,
I have worked in different software companies in India.Last three years I have started on my own.This is just my introduction and does not relate to my letter.
Sir I need to see you once.Since I do not have the dream to be the richest man in the world so atleast I should get the opportunity to see someone who has made him to that extent.
If you are kind enough please arrange one visit to see you and resume work with your blessings.
Hope this will motivate me and my team both in India and Singapore.
I will wait till you call me Sir.
Thanks,
With warm regards,
Anjan Bhattacharyya
KARSHAN Technology Solutions Pte. Ltd.
179, River Valley Building, #02-06 (under renovation)
Singapore 179033
T - +65 67261830
M - +65 81689340
Posted by: Anjan Bhattacharyya | November 09, 2006 at 07:11 AM
Goodday
This letter is personal, intimate and confidential. Forgive this unusual manner of contacting you, but this is the only option i have.
There will absolutely be great doubt and distrust in your heart in respect of this email, coupled with the fact that so many miscreants have taken possession of the Internet to facilitate their nefarious deeds, thereby making it extremely difficult for genuine purposes.
There is no other way for me to know whether I will be properly understood, but I have to reach out to someone. For I know that there will be one that can be trusted.
I am Mrs. MARIAM WILLIAMS,wife of late MR,JOHN WILIAMS .i am 47 years old with no children. I have been presently diagnosed with severe lungs cancer and my doctor says it will be a miracle if i exceed thirty days.
My late husband whom died of heart attack was a bussiness mogul in ireland. Until recently, I discovered he deposited a huge amount of money in England and with my present condition I cannot withstand the procedures involved in acquiring this money.
All i request from you,is a letter of guarantee stating that if this fund is eventually in your possession,85% percent of it shall be donated to charity. I shall specifically state the charity homes that would benefit from this funds.
If you are honest,capable,trust worthy and interested I would require the following informations from you:
1.your full name.
2.nationality.
3.occupation.
4.age.
If I happen to be pleased with your informations, I shall forward your mail to the attorney that will handle the Change Of Ownership.
Bless You,
Mrs.MARIAM WILLIAMS
Posted by: Mrs.MARIAM WILLIAMS | November 15, 2006 at 12:31 PM
hello!
what is you sercet of gain wealth and how did you start as an humble person or were you born to a wealth family. please you can send your answer visa my email address.
Thank you
signature
M.O.Lewis
Posted by: michael lewis | November 17, 2006 at 05:33 AM