ad-fullscreen

Forbes 400 list of richest in US includes several from Las Vegas Valley

Updated October 17, 2017 - 6:57 pm

Eight Las Vegas Valley residents have made the Forbes 400 list of the richest Americans released Tuesday.

At No. 14 is the richest man in Nevada, Las Vegas Sands CEO Sheldon Adelson, worth about $35.4 billion.

His worth increased by $5 billion since he made the magazine’s annual list of international billionaires in March.

Adelson operates The Venetian, Palazzo and properties in Macau. Those Asian investments pushed the company past $3 billion in revenue in the company’s second-quarter earnings.

In September Adelson signed a new employment agreement for a 400 percent raise and the highest salary among S&P 500 chief executives.

Adelson is also a major donor to the Republican Party. The 84-year-old is worth about $2 billion more than former Microsoft CEO Steve Ballmer and about $3 billion less than Alice Walton, daughter of discount retail giant Wal-Mart founder Sam Walton.

Alice Walton’s cousin, Nancy Walton Laurie, 66, of Henderson is worth $4.9 billion. She ranks at No. 122.

Panda Express founders Andrew and Peggy Cherng, No. 226, are worth $3.3 billion. In September, they bought a four-building, 210,000-square-foot office complex at Town Center and Covington Cross drives in Summerlin for $47.9 million.

Wynn Resorts CEO Steve Wynn, No. 248, is worth $3.1 billion. The 75-year-old opened Wynn Palace in Macau in August 2016 and broke ground that month on the $2.4 billion Wynn Boston Harbor.

He developed The Mirage, Treasure Island, Bellagio and Wynn Las Vegas. Wynn and Adelson also appeared on a recent Forbes list for top business minds.

His ex-wife, Elaine, ranked at No. 350 with $2.3 billion. Both Wynns are 75 years old.

Steve Wynn has broken a tie he had with fellow casino mogul Phil Ruffin, ranked No. 315 with $2.6 billion. Wynn and Ruffin had posted $2.5 billion in March.

Ruffin, 82, co-owns Trump International in Las Vegas and doubled the value of Treasure Island after he bought it in 2009.

Frank Fertitta III and his brother, Lorenzo, tied with 11 other billionaires for No. 388. Frank, 55, and Lorenzo, 48, are worth $2 billion each.

They bought the Ultimate Fighting Championship mixed martial arts promoter in 2001 for $2 million and sold it for $4 billion in 2016.

The brothers are also known for Station Casinos and Red Rock Resorts, which announced a $191 million investment in two properties earlier this year.

The Fertitta brothers were topped by cousin Tilman Fertitta, of Houston, ranked No. 212 for $3.5 billion. The Texas-based billionaire owns Golden Nugget Casinos as well as restaurants Landry’s Seafood and Bubba Gump Shrimp Co.

In August, his company bought Joe’s Crab Shack and Brick House Tap and Tavern. He’s also bought the Houston Rockets NBA team.

Microsoft founder Bill Gates, 61, is the richest American with $89 billion. He lives in Medina, Washington.

Other notables on the Forbes list:

— Warren Buffett, No. 3, $78 billion, owns NV Energy through Berkshire Hathaway Energy.

— President Donald Trump, namesake for the Trump International off the Strip, ranked No. 248 with $3.1 billion.

— Carl Icahn, who sold the Fontainebleau for $600 million, ranked No. 27 with $16.7 billion.

— Ronald Perelman, chairman of Scientific Games, ranked No. 42 with $11.7 billion. The company reported a 5.1 percent increase in revenue to $766.3 million during its second-quarter earnings season.

— John Paulson, landowner in the Lake Las Vegas area, ranked No. 63 with $7.8 billion.

— One-time Henderson resident Pierre Omidyar, who now lives in Honolulu, ranked No. 48 with $9.6 billion.

— Siblings Jacqueline and John Mars ranked at No. 16 with $25.5 billion each. Their family owns the Ethel M Candy plant in Henderson, which recently reintroduced some classic candy bars.

— Edward Roski Jr., owner of the Silverton Las Vegas, known for its mermaids, ranked No. 97 with $5.5 billion.

— Marc Rowan ranked No. 248 with $3.1 billion. His Apollo Global Management paid $1.1 billion for the country-club operator behind two golf courses in Las Vegas.

The Review-Journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.

Contact Wade Tyler Millward at wmillward@reviewjournal.com or 702-383-4602. Follow @wademillward on Twitter.

section-ads_high_impact_4
TOP NEWS
ad-315×600
News Headlines
pos-2 — ads_infeed_1
post-4 — ads_infeed_2
Local Spotlight
Events
Home Front Page Footer Listing
Circular
You May Like

You May Like