The Las Vegas Sands Corporation announced that chairman and chief executive officer Sheldon Adelson is taking a medical leave of absence. After recently resuming cancer treatments, Adelson is taking time off from the company to focus on his health.
Adelson, 87, was first diagnosed with cancer in early 2019. The company did not state how long the leave of absence will last.
Sheldon Adelson replaced by Robert Goldstein
During his time away, Adelson’s roles within the company will be temporarily assumed by Robert Goldstein, the president and chief operating officer of Las Vegas Sands Corp.
When he was first diagnosed with cancer two years ago, Adelson did not take a formal medical leave. He did not participate in quarterly earnings conference calls for a full year.
The diagnosis was not revealed to the public until an attorney reported on Adelson’s health during a court case. The case required a deposition from Adelson and there were questions as to whether he would be able to take part because of his poor health. Las Vegas Sands then issued a formal statement, affirming the diagnosis of non-Hodgkin’s lymphoma, a type of blood cancer.
Richest casino tycoon
While he may be facing health issues, Sheldon Adelson is still one of the richest men in the world. In mid-2020, Forbes’ annual “World’s Billionaires List” placed Adelson as the 28th richest person in the world, with a net worth of $26.8bn.
Just a few months prior, Adelson was actually worth almost $40bn, but his wealth plunged after shares of Las Vegas Sands nosedived because of the COVID-19 pandemic.
Adelson owns half of Las Vegas Sands, which includes the Venetian and Palazzo properties in Las Vegas. The company also operates several properties on the Cotai Strip in Macao including The Plaza, Venetian Macao, Sands Cotai Central, Parisian Macao, and others.