The Forbes 400 list of the wealthiest Americans is out, and the 2021 edition contains several names that have initially made their wealth through casino sports betting.
Dr. Miriam Adelson, the window of the late Sheldon Adelson, is the world’s wealthiest person in the gaming industry. The Las Vegas Sands’ largest shareholder is estimated to be worth $30.4 billion.
Mr. Adelson died in January at the age of 87. After his death, Dr. Miriam became the sole owner of almost 399 million LVS shares. That represents 55.2% of the whole organization.
Sands is undergoing a significant company remodeling, one that could lead to the organization changing its name. In March, only two months after Mr. Adelson’s death, Sands announced that it had agreed to sell its Las Vegas Strip entities. The buyers were the Venetian, Palazzo, and the Sands Expo and Convention Center to Apollo Global Management and Caesars Entertainment’s real estate business trust VICI Properties for $6 billion.
According to Ms. Adelson, the net worth of $30.4 billion slightly improved on the $29.8 billion that Forbes approximated of her husband’s business last year. For 2021, Miss Adelson is the 24th-richest American.
Forbes says that its yearly 400 list “is a snapshot in time of wealth, using stock prices from private firms.” That is why brothers Lorenzo Fertitta and Frank, who regulate the privately-owned Station Casinos, are not listed.
The 2021 Forbes 400 edition, the financial media station explains, is its 40th edition. And for the 40th year continuously, casino billionaires have grabbed locations on the respected Rolodex.
After Ms. Adelson, Carl Icahn is the next household name who has significantly invested in casinos throughout his entire investment career. He is worth an estimated $16.6 billion and ranks No. 43 in the US. That total is up more than $2 billion from the last year.
Icahn Enterprises has in the past overseed several casino companies, such as Trump Entertainment Resorts, Tropicana Entertainment, and American Entertainment Properties. In addition, Icahn owned the long-impeded former Fontainebleau on the Las Vegas Strip. He sold the elevated blue structure in 2017 for $600 million. In 2010, he paid $151 for the incomplete property.
Neil Bluhm is next at No. 151. The Rush Street Gaming owner is worth an approximated $6.4 billion. No. 158 is Tilman Fertitta, who owns the Golden Nugget casino line. He is worth $6.3 billion.
Other Big Names
Since quitting the gaming industry nearly four years ago, Steve Wynn’s wealth has changed little. The Wynn net worth stands at $3.3 billion, which puts him No. 358.
Steve Wynn is the founder and former chair and CEO of Wynn Resorts. He quitted the firm in early 2018 after The Wall Street Journal published cases of alleged sexual misconduct committed by the casino tycoon.
Wynn has maintained he never behaved unprofessionally with his female staff.
Jon Yarbrough comes in at No. 368 with a wealth of $3.1 billion. Yarbrough’s company started by way of Video Gaming Technologies, a gaming producer specializing in working with tribal casinos and creating Class II gaming terminals.
Yarbrough is hoping to increase his wealth in Norfolk, Virginia. In addition, he is assisting fund the Pamunkey Indian Tribe’s $500 million casino resort in the city. He will oversee an anonymous post in the project.
Lastly, for the first time in 25 years, former President Donald Trump is missing on the Forbes 400. The 45th president’s net worth is $2.5 billion, which puts him outside the list of the 400 wealthiest Americans. Trump’s fortune can be partly credited to the casinos he constructed in Atlantic City and Northern Indiana.
Last Updated on by Ryan