By early may, after the rejection predvybornoi race Ted Cruz and John Kasica, it became clear that the candidate in US presidents from Republican party in the elections of 2016 will be the tycoon Donald trump. Before the election is six months, and the favorites of the presidential race in Trump and former Secretary of state Hillary Clinton — have to increase your campaign budgets. Earlier already wrote about the fact that by the beginning of April, all candidates (including those already eliminated) collected for the campaign a total of $1 billion, a Fifth of this amount ($222 million) fell on Clinton. The budget of Donald trump’s much more modest: about $36.7 million, of which $24.6 million is his own money. After the victory in Indiana trump said that in autumn the race he will need about $1.5 billion, and this time he will turn to donor assistance.
This task will be difficult: regular sponsors of the Republicans among the business conservatives (e.g. the industrial concern co-owners of Koch Industries, brothers Charles and David Koch) have for the nominee outright hostility. To help can Trump gambling magnate Sheldon Adelson, who expressed to him at the end of last week public support . “I’m a Republican, and he’s a Republican. He is our candidate,” said Adelson.
Sheldon Adelson is one of the most influential and respectable “wallets” of the Republican party. Forbes described his role in the American camp of the conservatives: “Earning billions on the largest us network of casinos, it uses these funds to purchase influence in the Republican party”. The magazine calls the businessman “the godfather of the Grand old party (the official name of the Republicans)”.
The state of Adelson, according to Forbes, almost six times the wealth of trump. At the beginning of March 2016, when the magazine updated its annual ranking of the rich, assets Adelson was estimated at $25.2 billion, he was the 22nd wealthiest man in the world and 14th in the USA. Within two months of “real time counter” Forbes added to Adelson as another $1 billion.
According to Bloomberg, as Adelson on may 10, is $24.1 billion (29th in the world and 18th in the USA). Of these, $4 billion cash. The main asset, the holding company Las Vegas Sands, on 10 may on the new York stock exchange was estimated at $54 billion, Those 36,65%, which Adelson owns directly or through a family Foundation, thus are estimated at $19.8 billion
Your way in business, Adelson started with a loan of $200.
Once in America
Sheldon Adelson was born in August 1933 in an immigrant area of Boston, Massachusetts. Despite the name (which translates from German as “son of nobles”), the family of the future Mogul was not rich. Adelson’s parents immigrated to the United States from the Russian Empire: his father Arthur Adelson is a native of present-day Lithuania, maternal billionaire comes from Kiev.
For the protection of Israel
“As President, trump would be good for Israel,” said Adelson may 5, after his speech at the gala dinner of the World Values Network, one of the leading Jewish lobbying organizations in the United States.
With Israel Adelson has ties: he worked for many years with the American Israel public Affairs Committee (AIPAC), but in 2007, publicly severed ties with the organization, unhappy with her support for the policy of center-left Israeli Prime Minister Ehud Olmert. Six months ago, however, from tax returns, it became known that the structure of the Adelson continues to cooperate with AIPAC, with multimillion-dollar contracts.
The last ten years is a billionaire and works on the Israeli media market. Adelson was often called the owner the conservative tabloid Israel Hayom, Friday with a circulation of over 500 thousand copies. In February 2016, Adelson’s lawyer at the request of the court stated that the owner of the newspaper he is not Sheldon, but one of the members of his family.
As noted in 2008, the New Yorker magazine, on the attitude of Sheldon to Israel could influence the dream of his father. After the formation of the Jewish state Arthur tried several times “to set foot on the land of Israel,” but to allow this he could not at first poverty, and then disease. After his death, Sheldon went to Israel in dad’s old boots.
By the time of the birth of his son Arthur worked as a taxi driver, and Sarah ran a small knitting shop. “It was a time when the rich in our neighborhoods was the one who had in his pocket is three dollars,” recalled Irwin, Safes, a childhood friend and longstanding business partner of Adelson.
For the Sheldon this amount was not enough. To earn money, the future billionaire began at the age of ten years, in the midst of the Second world war — he was standing on a street corner and sold Newspapers. As noted in the investigation Review-Journal, Adelson soon realized that it is cheaper to buy a place on the sidewalk rather than work “on the uncle” for a trifle.
For help Sheldon has turned to “uncle al”, who took the $200 (about $2.6 million in current prices) to fight off the competitors for his own parents meant that money “as it is now two million”, he later recalled. This man knows only his name and that he worked as the Treasurer of the credit cooperative. Soon Sheldon “scored” already two places that were considered best from street sellers of Newspapers, and the repayment of the loan was his first real business experience. “I learned what interest is. Learned what credit. Learned what trustworthiness. And I got to know uncle al”, — later recalled Adelson.
In search of himself
Several years later, in 1948, 15-year-old Sheldon decided to establish a small company vending machines for the sale of sweets. For this he took the same uncle al’s $10 million (over $100 thousand at the contemporary exchange rate) — the amount by which then you could buy in Boston housing. Adelson has placed 125 vending machines in locations with non-stop flow of people — primarily at gas stations.
Small trade in Boston was in the hands of the Italian-American Patriarca mafia clan, so bringing the business to the mind, Adelson it was immediately sold and the money moved to new York, where he enrolled in the prestigious City College with specialization in corporate Finance. After two years he left College and went to court reporters, and after a couple of years enlisted for service in the U.S. army. There he joined the military legal service, in fact, remain a court reporter working on the teletype.
After two years of service, Adelson was discharged and again began to make — initially hired a mortgage broker, then became an investment analyst finally, together with his brother opened a company to supply toiletries to hotels. In 2007, Adelson said that in his long career, he has worked in more than 50 areas of business.
In the early 1960-ies Adelson returned from new York to Boston, where he engaged in venture capital, investing in high-risk assets and young enterprises. At its peak, in 1968, his wealth was $5 million.
In the early 1970-ies Adelson became interested in real estate and began to hold fairs and screenings to promote new or converted housing. Adelson then bought the publishing house, which published in particular magazine about computer technology. Having recent experience in organizing trade exhibitions, the businessman decided to hold a similar event for the nascent computer industry.
The first show, called COMDEX, held in Las Vegas in early 1979 and was open only for professionals from this sphere. But Adelson failed to catch public interest in the computers, as well as to establish cooperation with young firms like Microsoft and Apple.
By the end of the 1970s the computer company has already established a portfolio of several promising products, but have not yet reached the stock market and did not attract everyone’s attention. A veteran of the industry, IBM was preparing to introduce its first personal computer IBM PC. In the eyes of a businessman, formed a new industry and expert community around it, so Adelson has decided to make COMDEX platform for promising players of the market.
In the late 1980-ies COMDEX opened its doors to the public, which caused an explosive growth in attendance (tens of thousands of people against 3.9 thousand visitors in 1979). The rental price of the stand grew, and by the beginning of 1990-ies Adelson alone (not counting his partners) did for the exhibition to $20 million a year.
In 1995 the right to host COMDEX were sold to the Japanese company SoftBank for $862 million, of which $500 million accounted for by Adelson ($800 million in 2016 prices). Before the sale COMDEX businessman started looking for a place to build a private Vegas Convention center, to do away with the rental costs. Suitable area he found in the possession of the casino-hotel Sands Hotel, which was bought in 1989 along with a hotel. To do this a year earlier he and long-time friends (among them was Irwin, Safec) created the company Las Vegas Sands, which now is his main asset.
Together with the land under the Convention centre Sheldon got into the hands of one of the oldest casinos in the city. This caused him to have interest in gambling. Having been through several years in Italy, he decided to invest the proceeds from the sale of COMDEX funds in the construction of the casino-hotel Venetian in style, sending the old Sands Hotel demolished. The Venetian Las Vegas was completed in 1999, becoming the second largest hotel complex in the world.
The business proved profitable, and in 2000-e years, Adelson has already bought and built casino-hotels around the world, but primarily in Macau, China, another center of the gaming industry. The former Portuguese colony in 1999 returned under Chinese jurisdiction and is the only place in China where gambling is allowed. Two years later, Beijing has opened the city to foreign investors, breaking the monopoly of local tycoon Stanley Ho. One of the first in a promising market (the Chinese have just started get rich fast) came out Adelson, opened in 2004, Sands casino Macau.
In December 2004, Las Vegas Sands went well on the stock exchange, sold its 6.8% stake in the company. When the original price of paper to $29 the first day the auction ended at around $46,56. The placement brought Adelson $690 million In the first trading day the entire capitalization of the company (then still belonged to Adelson of 87.9% of its securities) reached us $10.2 billion If in the spring of 2004, Forbes estimated the state Adelson’s $1.8 billion, a year — already at $11.5 billion.
Peak Adelson’s business career began in 2007. In the spring, he was recognized as the third wealthiest person in the United States with a fortune of $26.5 billion, and in the summer in Macau opened hotel, The Venetian Macao is one of the largest buildings in the world. But a year later the outbreak of the global crisis has almost made bankrupt businessman: from October 2007 to March 2009 (peak of growth and decline in the valuation of Las Vegas Sands fell from $144,2 to $1.4 apiece.
The reasons for such a sharp collapse of quotations was a little. First, in Adelson, the court applied the well-known lobbyist Richard Swen: he allegedly was to receive $5 million from Las Vegas Sands for the organization of secret talks with officials of the PRC on the question of the business in Macau (after the victory of Suana and appeals Adelson’s case is still pending). At the same time Beijing has imposed restrictions on tourist visas to Macau, and hotel occupancy Adelson in Las Vegas fell due to the collapse of the economy. Finally, the banking crisis jeopardized lending Las Vegas Sands, which just completed another casino hotel.
2008 and 2009 were the only unprofitable in the history of Las Vegas Sand ($164 million and $369 million respectively). To rescue the company Adelson contributed $1 billion of personal funds in two tranches which are “poured” into his holding company, receiving in return more than 5 million shares. After the acute phase of the crisis, the company repurchased these shares from the owner for half the price. Since the crisis Adelson opened one casino in the USA, Singapore and China, now to open in Macau, another casino hotel — this time in the French style. Instead of the traditional already for Adelson copies Piazza San Marco architectural dominant here will be the replica of the Eiffel tower.
Sheldon Adelson in numbers
$26.2 billion — a fortune at the beginning of may
1st place Adelson is among the richest people in Las Vegas
$200 was the first loan of a businessman
$11.7 billion — revenue Las Vegas Sands in 2015
At 61% increased shares of Las Vegas Sands in the day of the IPO
More than 20% is the profitability of the business Adelson
$250 thousand was invested Adelson in 2005, the holding of the inauguration of George W. Bush
At 94% fell quotes Las Vegas Sands in 2008
Sources: AP, Forbes, NYSE, company data