The San Francisco-based Institute for Jewish and Community Research’s President Gary Tobin spoke of Sheldon G. Adelson as one who will “change the nature of Jewish philanthropy.” Indeed, the devout giver for healthcare, religious, and cultural causes has established record donations to several non-profit organizations.
A $25 million gift created the Dr. Miriam and Sheldon G. Adelson Educational Campus, the pioneer Jewish school in Las Vegas, which began operations in 2008. Boston health care and housing provider for older people in need, Hebrew SeniorLife, also received a $5 million contribution from the Adelson couple. The same amount is pledged to Massachusetts’ Chelsea Jewish Nursing Home, to be paid out over three years until 2010. Private University Shalem Center in Jerusalem created the Adelson Institute for Strategic Studies from a $4.5 million pledge by Sheldon Adelson. In 2007, Jerusalem’s Yad Vashem Martyrs Memorial became the recipient of $25 million.
The Friends of Adelson Drug Clinic ($135,882 in assets) and the Dr. Miriam and Sheldon G. Adelson Medical Research Foundation ($354,884) are two of Sheldon Adelson’s family foundations that are focused on the medical field. With particular expertise in oncology, neurology and immunology, the latter institute has adopted a new model of collaborative research since its founding in 2006.
Another vehicle for his generosity is the Dr. Miriam and Sheldon G. Adelson Charitable Trust, which in 2008 had assets of $52.1 million. Cumulatively, his contributions from 2002-2006 are estimated at $105.9 million. In 2007-2008 alone, Sheldon Adelson made a total of $69.5 million in gifts to different charitable groups.
Sheldon Adelson’s greatest and perhaps most personal philanthropic involvement is with the Taglit – Birthright Israel Program (BRI). This initiative provides free educational trips to Israel for Jewish young adults (18-26) who have never had the chance to pay pilgrimage to their homeland. Since its launch in 2000, it has received the aid of the Israeli Government, Jewish communities around the world, and private philanthropists. Sheldon Adelson is one such committed supporter.
From his young years as the son of a cab driver, he took a loan of $200 to start peddling newspapers at a Boston street corner when he was still 12. After some time with the City College of New York, he decided to make the leap to work as a mortgage broker.
Sheldon Adelson would find success in his consequent years as a financial consultant and investment adviser. In 1989, with the $128 million acquisition of the Sands Hotel in Las Vegas, he remodelled it into a 4,000-suite Venetian Resort Hotel Casino. To this day, at 75 years of age, Sheldon Adelson takes pride in owning, operating, and chairing the Las Vegas Sands Corporation.
No related posts.