Currently the richest man in the gambling industry, Sheldon Adelson owns the Las Vegas Sands Corporation which controls the Venetian in Vegas and Macau. He had the classic rags to riches life story. Born in Boston from an emigrant Jewish-Ukrainian family, he spent his childhood selling newspapers on the streets. Even without much of an education, he became one of the best financiers in USA. He was one of the first businessmen who believed in the future of IT with COMDEX as his breakthrough which he sold to the Japanese for $86 million.
He ventured into the gambling industry when he bought the Sands hotel and casino in 1989. He transformed it into an international business center to attract rich entrepreneurs to his casino. He built the Sands Expo business center and the Venetian – one of the most beautiful hotel casinos in the world. It is an exact replica of Venice complete with gondolas and singing gondoliers. A second Venetian in Macau opened in 2004, the first of its kind in Asia. In 2009, another one of his casinos opened in Singapore. According to Forbes magazine, Adelson ranks number 14 in the world’s wealthiest people on the planet with a fortune of more than $16 billon.
Known as one of the fathers of Las Vegas, Kirk Kerkorian is a living legend. Born in California, he was active in boxing and single combat sports until age 22 when he decided to stop and wanted to learn how to fly a plane instead. He became a pilot for the British Royal Air Force during the second World War and upon returning from the war, he bought an airline company to charter planes to and from Los Angeles and Las Vegas. He realized the potential in Vegas and in 1962, bought land on the area which is now famously called The Strip. The gambling boom started and many companies became interested in the gambling industry and he used this to his advantage, leasing out his land to famous casinos line Caesar’s Palace and then selling it, earning more than $10 million.
In 1967, he bought more land and had already put up the International Hotel, the biggest hotel in the world at that time. Kirk was known to hire famous artists like Elvis Presley to attract potential players. He also bought the Flamingo which he sold to Hilton. However, his most crucial move was to buy the film studio MGM and build the MGM Hotel and Casino in Vegas making it the largest hotel in the world at that time. Today, Kirk owns the Tracinda Corporation which holds the controlling stocks of MGM Mirage.
Kirk holds shares outside of the gambling industry as well like a 10% hold on General Motors. As the number 53 richest man in Forbes’ list, he is estimated to be at $8.7 billion.
Tags: British Royal Air Force, Caesar’s Palace, Forbes' list, International Hotel, Kirk Kerkorian, Sands Corporation, Sheldon Adelson, the Flamingo, The Strip, Venetian in Macau