Inspiration

Never Give Up on Your Hopes and Dreams: The Story of Sheldon Adelson

Sometimes life gets tough and we feel like we must put aside our dreams to make things work. Many people have struggled throughout life and have still found ways to succeed. You should use their stories as inspiration to lead you to achieve all your own hopes and dreams. Sure, everyone has a different situation in life. It’s what makes us unique and special, but also what fuels us to create whatever world we want to live in. It also ensures that the person who is in control of your dreams is you, so make sure you are doing everything you can to achieve them.

The Story Behind the Man:

Wounded Warriors

Sheldon Adelson – American Entrepreneur

Sheldon Adelson was born on August 4th, 1933 in Dorchester, Massachusetts in the middle of the great depression. He lived in a low-income neighborhood with his mother and father – both of whom immigrated to the United States. His father, Arthur Adelson, was a cab driver in the city while his mother ran a knitting shop. Sheldon began working as a young boy by selling newspapers. By age twelve, he owned his own business selling toiletries and newspapers with money he had borrowed from his uncle. At age sixteen, he once again borrowed money from his uncle to start a vending machine business. He continued running his business as he graduated high school and got into the City College of New York.

Adelson, a corporate finance major at the City College of New York, only attended two years of college before dropping out. He joined the U.S. Army and began working on Wall Street as a court stenographer. During this time, he saw the riches and high-life of those working on Wall Street. After leaving the army, he went on to work on Wall Street as a mortgage broker and investment advisor. He also began several businesses during this time. By the time he reached his 30s, he had made and lost a ton of money – twice significantly. The first instance of money loss occurred after the stock market decline in the late 1960s, while the second occurred when the condominium market in Boston took a nose dive.

Looking to save himself from any more losses, he bought a company that published computer magazines. After seeing successful trade shoes for condominiums, he decided to put on a trade show for the computer industry. The initial success would later yield even greater success. Adelson sold his condominiums and publishing company in order to concentrate on the computer trade shows. In 1979, he created the Computer Dealers Expo (COMDEX) held at the MGM Grand Hotel in Las Vegas, Nevada. As the great computer grands began to grow, many of them began to present their products to consumers at these trade shows. By 1987, COMDEX grossed $20 million dollars and became the largest trade show in Las Vegas. Toward the end of the decade, the show was netting $250 million dollars and began expanding to other countries.

Adelson continued to look for growth opportunities with his partners. One of these opportunities includes what some call the legendary Sands Casino, which was purchased for $128 million. Adelson redesigned the casino by adding shopping malls, convention centers, and a resort. In 1991, he met his future wife Miriam Ochsoma, an Israeli born physician. When the two finally married, they were inspired by Venetian architecture on their honeymoon in Venice to build a new hotel resort. To achieve this, Adelson needed capital. So, he sold COMDEX to a Japanese firm for $860 million. Now, he would be free to build an empire on his own.

Adelson went on to build the $1.5 billion dollar resort and casino known as the Venetian Resort Hotel Casino. This money also allowed him to go on to build the Sands Expo and Convention Center. These buildings would become greatly successful in Las Vegas despite the legal battles required to get them completed. Over the next couple of years, Adelson built some more of these resort hotel casinos all over the world and making him billions of dollars.

Adelson is very charitable and highly politically motivated. He has donated millions of dollars to multiple charities, as well as to the Republican Party and super PACs to support his views. He established the Adelson family charitable trust that plans to donate $200 million to Jewish and Israeli causes.

Sheldon Adelson is a great businessman and entrepreneur. Coming from nothing, he utilized his smarts and some borrowed money to build an empire. He built and lost fortunes, but never gave up hope and continued to learn from his failures. He used these experiences to grow and become the man he is today. Currently, he is worth $43.4 billion dollars. If you would like to learn more about Sheldon Adelson, check out this movie about Sheldon Adelson Charlie Rose with Daniel Craig; Sheldon Adelson; Alex Trebek (November 16, 2006)

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