Being among the 1% population of the world who hold more than 50% of the world’s capital would be a life on another planet altogether. The world’s wealthy class holds almost $9.1 trillion combined, which is quite an inculpable sum.
According to the 2018 Forbes list, Jeff Bezos, the Amazon founder and Washington Post owner, has unanimously become the world’s richest man with an asset of $112 billion assets in total. This wouldn’t have been phenomenal until you’ve known that the emperors, pharaohs would all have to step aside as he is the richest man ever lived on planet earth. Remember this fact when you order another cool stuff on Amazon, the next time. This could change your perspectives.
As markets grow and expand, newer fields come up, and the world has become a ripe field for some realtime cash. And when it comes to putting your wealth on wagering, you better scroll down to number 21 on the Forbes list, that would come down to Sheldon Adelson, CEO, and chairman of Las Vegas Sands, the first casino industry billionaire who has $39.9 billion in his pocket.
Let’s delve into the depths of the casino industry and its money-minting machinery.
With a lowly setting in a Boston tenement, he made his first appearance at the age of 12 in buying a newspaper vendor’s license, with a mother who owned a knitting shop and a father who was a chauffeur. By 16 years, he had moved into a vending machine business before moving into the army. Later in life, he would purchase the Las Vegas Sands Hotel and Casino by 1998, from where fortune showed its better side. Within a year, the first privately owned convention centre in the US, The Sands Expo, and Convention Centre were built. By 1991, he decided by the success of Steven Wynn that mega casino resorts were the future and invested more into the field. To continue his growth, Adelson next looked into Macau self-administrative zone in China, thus opened up the first Las Vegas-style casino, the Sands Macau.
He has always been closely associated with fellow casino resort developers and President, Donald Trump, backing the Trump campaign with the most significant single campaign donation in US history.
Lui Che Woo
89-year-old Woo, with his roots in China, entered the business world as a peanut vendor in Hong Kong at a very tender age. Something similar to a rag to the rich story, be turned out to be one of the significant contributors to education in China, Hong Kong, and the US.
Steering from the real estate business, he later ventured into hotel development and finally owned five casino licenses in Macau. The move was described as the ‘snake eating an elephant’ by industrial observers. It swallowed almost a 97.5% stake in Galaxy Casino SA, securing a place on the Hong Kong stock exchange. The success skyrocketed him into the billionaire club.
Pansy, the oldest of the five daughters of the Godfather in the casino industry, Stanley Ho, owns up to 29% of the MGM Macau. She sits on the board of ferry and operator, Shun Tak Holdings. However, she had never been free of controversy. She was banned from owning a casino license in New Jersey after the state found that her father had ties to organised crime.