Faraz님의 프로필Faraz's Blog사진블로그리스트기타  |  도구 도움말 |
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10월 4일 Sheldon Adelson Wow, was reading an old Time on the loo today. Came across this article about Las Vegas and how it has come to be hit really hard by the recession. Condos that were selling for 600,000 dollars last year are now selling for less than 200,000. How crazy is that. Anyway the reason it was a worthwhile article, so much so that I logged into here to write a bit about it is this casino owner Adelson. This guy was worth 40 billion last year apparently and now is worth 4 billion. But I guess what difference it makes, once you're past the 100s of million mark would it really make much difference to your lifestyle? The article says it does, read underline part at the bottom. Funny, I kinda would want to know more about it. Seems like quite a character. That is true even of Sheldon Adelson, who has lost more during this recession than anyone else on the planet. The 76-year-old chairman of the Las Vegas Sands Corp., which owns the Venetian hotel, the Sands Expo and Convention Center and the Venetian Macao, was in 2007 and '08 the third richest person in the world, with — by his estimate — a net worth of $40 billion. By February of this year, he said he had lost $36.5 billion — more than the GDP of half of the countries in the world. In the years before that slide, banks were begging him to take their money, given his massive success in building the first Vegas-style hotel and casino in Macao, China, in 2004. Adelson didn't hesitate, taking all he could get and building an entire mini-Vegas in Macao called the Cotai Strip, along with huge casinos in Singapore; he also doubled his Vegas space by adding the Palazzo to his Venetian hotel. In a short time, he has accumulated a debt-to-earnings ratio of 6.8 to 1 in the U.S. Then the loans stopped coming, and his stock price sank from $144 to $1.42 in March. (It now hovers at about $12.) He doesn't seem too crushed by his losses. "A billion dollars doesn't buy what it used to. So it's not as tragic as one would assume," he says. "I say to my wife that the worst tragedy I could have in business deserves a two-hour cry, and I scale down from there. I didn't cry one moment." When his wife asked him to cut back on expenses, he dismissed the suggestion, telling her he still had more money than they could ever spend. Eventually he capitulated: whenever possible, he uses his small private jet instead of his big one. 트랙백이 블로그의 트랙백 URL은 다음과 같습니다. http://farazharoon.spaces.live.com/blog/cns!1823F2DFED5B7A53!631.trak 이 블로그를 참조하는 웹 로그
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