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This article is a product of our research for the US Single Family Office database, featuring family offices of some of America’s wealthiest individuals and their investment focuses. These areas include real estate, financial markets, private equity, venture capital, and renewable energy.
Where does the fortune of Miriam Adelson come from?
Miriam Adelson is the widow of Sheldon Adelson, the former CEO and Chairman of casino giant Las Vegas Sands, who died in 2021 at the age of 87. Sheldon Adelson was an American business magnate, investor, philanthropist and political donor. He was the founder and CEO of the Las Vegas Sands Corporation. He and his family now own more than half of the New York Stock Exchange-listed Las Vegas Sands, a gambling empire with casinos in Singapore and Macau. In 2022, Las Vegas Sands sold its Las Vegas Strip assets, including the Venetian Resort and the Sands Expo and Convention Center, to Apollo Global and Vici Properties for $6.25 billion. The family also owns the Israeli daily Israel Hayom and the American daily Las Vegas
How did the Adelson family business develop?
Sheldon Adelson created his businesses mainly on the success of his real estate investment activities in the Las Vegas area. Beginning in 1988, Adelson and his partners purchased the Sands Hotel and Casino in Las Vegas. Just a few years later, inspired by a trip through Venice, he built “The Venetian Resort” in Las Vegas. It got expanded in 2003 with the “Venezia Tower”, giving the hotel 4,049 suites; 18 restaurants and a shopping mall with canals, gondolas and singing gondoliers. After opening some other hotels and casinos in the U.S. and China, Adelson was allowed to build a casino at Singapore’s Marina Bay. It opened in 2010 including multiple swimming pools, night clubs, and 2,500 luxury hotel rooms. There were rumors that it had cost over 5.5 billion U.S. dollars to build.
Is there a Adelson family office?
The Adelson family does not operate a single family office, but always seeks to make investments that add value to its businesses. They are also known as one of America’s most important lobbyists.
How does the Adelson family office invest?
As mentioned, he does not own a single family office, but it was recently revealed that Adelson is looking to invest at least $10 billion in a new casino and integrated resort in Japan to expand his business. Miriam Adelson also bought a majority stake in the Dallas Mavericks basketball team from Mark Cuban in 2023. They are also always trying to get some influence on political decisions that would affect their business activities in the U.S. They are a GOP megadonor and top backer of Donald Trump.
This article is part of our detailed report “The single family offices of the richest US families“
Picture Source: Mike Enerio
Featured: Our unique US Single Family Office Database
Last Updated on November 5, 2024