Adelson tops gaming rich list

Las Vegas Sands Chairman and CEO has a net worth of US$26.8billion according to Forbes.

US.- Las Vegas Sands chairman and CEO Sheldon Adelson has again been named as the richest man in the global gaming industry, ranking 28th on the Forbes 2020 rich list with a net worth of US$26.8billion.

Adelson tops a handful of casino and gaming industry personalities on the Forbes 2020 list, including investor Carl Icahn – the man behind Caesars Entertainment Corp’s US$17.3billion merger with Eldorado Resorts – in 78th with a new worth of US$13.8 billion.

Galaxy Entertainment Group’s Lui Che Woo came in 106th place with a net worth of US$11.7billion.

The rankings were published at a time when the international economy is bracing for the impact of the Covid-19 outbreak, which mean believe could cause a global recession.

According to Forbes, there are fewer billionaires this year because of the global crisis:

“As of March 18, when we finalised this list, Forbes counted 2,095 billionaires, 58 fewer than a year ago and 226 fewer than just 12 days earlier, when we initially calculated these net worths.

“Of the billionaires who remain, 51 per cent are poorer than they were last year. In raw terms, the world’s billionaires are worth US$8trillion, down US$700billion from 2019”, Forbes explained.

The Las Vegas Sands’ boss has seen his fortune fall, having been ranked 24th as recently as November 2019 with a net worth at that time of US$37.7billion.

The US$10.9billion drop in his net worth means 28.9 per cent of his fortune has been wiped away since the emergence of the Coronavirus outbreak.

In this article:
business casinos las vegas sands USA