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Gambling tycoon Sheldon Adelson's net worth shrinks $12.9 billion in six months

Sheldon Adelson ranked down to 33 on Bloomberg's billionaire list  

COVID has caused completely different scenarios depending on the industries it affected. During this global public health crisis, people's demand for online shopping soared, which made Amazon's stock price skyrocket. The stock price of Amazon has risen 73% so far this year and has also helped the world's richest man, Jeff Bezos reach a personal net worth of 178 billion.

Jeff Bezos has increased his net worth by nearly $12.9 billion on 20th of this month, this is also recorded as the largest single-day increase ever in personal wealth of the Bloomberg billionaire list.

However, the wealth that Jeff Bezos has increased in a single day is exactly the number of personal assets that have shrunk in the past six months by Sheldon Adelson, chairman of Las Vegas Sands, the world's gambling tycoon.

Sheldon Adelson accosted, cursed in Tel Aviv - Jewish LedgerSheldon Adelson's net worth has dropped by US$12.9 billion in half a year. This reduction is roughly equivalent to 16 Suncity Group. ( The current stock market value of Suncity Group is about 800 million U.S. dollars) 

The stock price of Las Vegas Sands Group (NYSE: LVS) fell by nearly 40% to US$44.88 from US$74.09 in January 2020. Therefore, the value of Sheldon Adelson has dropped from US$40.8 billion on January 17 (the 19th in the world) to US$27.9 billion as of the 23rd (ranking down to 33).

Sheldon Adelson’s value has lost 12.9 billion USD 

Las Vegas Sands group is one of the world's largest casino and hotel operating groups. It owns a series of high-end casino hotels led by The Venetian. In addition to the United States, it also has many overseas investments in Asia.

In 2002, this group was the first foreign gaming group in Macau to set up Sands Casino Macau after obtaining a Macau gambling license, breaking the monopoly of Macau Entertainment Co., Ltd. in Macau casinos. 

About SiGMA Africa:
SiGMA is heading to Africa in 2022! With a record for attracting an audience from over 80 countries, SiGMA has the potential to set the stage with a global guest list of some of the best operators, suppliers, affiliates, regulators, and thought leaders in the gaming sector - bringing high-end innovation to the African gambling industry and driving sustainable growth throughout its nations.

 

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