Sheldon Adelson’s net worth down 13%, but remains in the top 20


Sheldon Adelson is still Richie Rich-rich, despite having lost a considerable amount of his fortune. Forbes magazine has released its Forbes 400, 2020, The Richest People in America list, and the casino tycoon behind Las Vegas Sands (LVS) is once again among the top 20 spots. The coronavirus pandemic may have taken a bite out of everyone’s wallet, but this hasn’t prevented the 400 richest people in the country from increasing their wealth, which saw a year-over-year increase of $240 billion to top out at $3.2 trillion.

Sheldon-Adelson’s-net-worth-down-13%-but-remains-in-the-top-20LVS has gaming properties all over the world and is still, loosely, considering an entry into Japan’s integrated resort market if it proves to be financially beneficial. In the meantime, Adelson will have to settle with his net worth of $29.8 billion, putting him in the 19th spot on the Forbes list. Compared to last year, the amount is 13.6% lower, with Adelson seeing his fortune drop by $4.7 billion. Perhaps some of that was spent supporting President Donald Trump for re-election, but has also spent some paying employees while casinos were shut down. Adelson has routinely been included on the list and saw his net worth peak at an all-time high two years ago.

Adelson may be the only casino boss to have been listed on Forbes’ top 100 of the world’s wealthiest last year, but he’s not the only one to make it to the U.S. list. Carl Icahn, the man primarily responsible for ensuring that Eldorado Resorts and Caesars Entertainment melded into one company, is 39th on the list. Forbes pegs his net worth at $14 billion, but it wouldn’t be surprising to see that jump considerably when new results are published next year. Eldorado and Caesars merged in a deal worth $17.3-billion, but only after Icahn purchased a significant stake in the latter. That investment will certainly pay off in the long run.

Another gaming-related stalwart to be included in the top 400 is Ronald Perelman, chairman of Scientific Games Corp. He went on a shopping spree last year, purchasing more Sci Games stock to increase his holdings to 40%. There was then talk, this past summer, that he might be looking to get rid of his holdings, but that still hasn’t happened. Amid a softer casino stock market, waiting would be more prudent and, if he sells later, he could improve his position with Forbes. He currently ranks 103, with a net worth of $6.2 billion; however, unloading 36.68 million shares would give him a nice boost.

Steve Wynn, the founder and former CEO of Wynn Resorts, which he almost singlehandedly brought to its knees, is still one of the wealthiest people in the U.S. Forbes puts him at 278 on the list and is reportedly still worth around $3 billion.