Forbes List Reveals 28 Billionaire Magnates in the Gambling Industry

Forbes’ 37th Annual World’s Billionaires List, which was published this week, features 28 individuals who have made their fortunes in the gambling industry. 

Dr. Miriam Adelson Tops Forbes List of Wealthiest Gambling Industry Magnates

The majority of the individuals who made their fortunes through gambling businesses are from the United States, accounting for nine of the total. Japan and Hong Kong follow closely, with four and three billionaires, respectively. Sweden, Malaysia, and the United Kingdom each have two billionaires on the list.

One of the most prominent names is Dr. Miriam Adelson, who inherited her fortune from her late husband Sheldon Adelson, the founder of Las Vegas Sands. Dr. Adelson is the wealthiest magnate on the list, with a net worth estimated at $35 billion. Her fortune increased by $7.5 billion from the previous year, thanks to the rebounding shares of Las Vegas Sands after the pandemic lows. She is currently the 35th-richest person on the planet.

Another notable gambling industry billionaire is Lui Che Woo, the founder of Galaxy Entertainment Group. With a personal net worth of $13.9 billion, Woo holds one of the six casino licenses in Macau. He is also the oldest gambling industry billionaire on the Forbes list, at the age of 94.

Besides Dr. Adelson, other familiar faces from the United States on the list include Elaine and Steve Wynn, William Boyd, and Tilman Fertitta. It is worth noting that Fertitta is listed under the food and beverage category.

Falling Stocks and Rising Interest Rates Result in a Down Year for Billionaires Worldwide

According to the data in the Forbes’ 37th Annual World’s Billionaires List, the past year has not been kind to the world’s wealthiest individuals, as a multitude of factors has contributed to a decline in total billionaire wealth and the number of billionaires globally. 

Turbulent times in both public and private markets, coupled with falling stocks and rising interest rates, have resulted in a down year for many of the planet’s richest people. Over 50% of billionaires around the world have seen their wealth decrease, including Elon Musk, who has fallen from his perch as the richest person on the planet after the pricey acquisition of Twitter. In total, 254 people have lost their billionaire status altogether. 

Bernard Arnault, the head of luxury goods conglomerate LVMH, now tops the list as the wealthiest person globally, making him the first French citizen to do so. 

Despite the decline, the United States still boasts the largest number of billionaires, with 735 individuals collectively worth $4.5 trillion, followed by China with 562 billionaires worth $2 trillion, and India with 169 billionaires worth $675 billion.