Tag Archives: Billionaires

Jew of the Week: Sheldon Adelson

In Memory of Israel’s Greatest Defender

Sheldon Gary Sholom Gedaliah Adelson (1933-2021) was born in Boston to a working-class, immigrant Jewish family of Ukrainian, Lithuanian, and English heritage. Even as a child he thought about how to get the family out of financial hardship, starting his first business at just 12 years of age by selling newspapers. Three years later, he started a new business operating a vending machine. His studies didn’t go well, and he dropped out of both college and a trade school before joining the military. After his army service, Adelson started a new business selling toiletries, followed by several more businesses before making his big break with a charter-bus tour company. In his 30s, he had already become a millionaire. A few years later, he was the co-creator of one of the first computer industry trade shows. The business grew exponentially and was sold to a Japanese company in 1995 for $862 million (of which $500 million went to Adelson). Meanwhile, Adelson had started investing in Las Vegas real estate. His first major venture there was purchasing the Sands Hotel and Casino for $110 million. A few years later, he dreamed of building a massive resort hotel and the result was The Venetian. Adelson also built a casino in Pennsylvania, in Singapore, and the Sands Macao, which was China’s first Vegas-like casino. The latter was one of Adelson’s most profitable investments, with some estimates suggesting it multiplied his wealth by fourteen times! In 2007, Adelson started a new conservative-leaning newspaper in Israel, called Israel Hayom. Distributed for free, it became the country’s number-one weekday paper. Originally a Democrat, Adelson grew disenchanted with the party and became a Republican. He always believed business and politics should not mix, and that wealthy people shouldn’t influence elections. However, when he discovered how strongly some wealthy people were influencing elections, he felt he had no choice but to do so as well. Over the years, Adelson donated hundreds of millions to support various Republican candidates. While he initially did not favour Trump, he ended up backing him due to Trump’s promises to help Israel. He gave around $65 million for Trump’s 2016 campaign, another $113 million to Republicans in 2018, followed by another $100 million in the last election. Trump’s erratic behaviour and obsession with election fraud led to a rift between the two, and they had not spoken following the election. A generous philanthropist, Adelson gave nearly $500 million for Birthright Israel (being its largest individual donor), $50 million to Yad Vashem, $25 million to build a medical school at Ariel University in Israel’s historic heartland, as well as nearly $20 million to fund Israel’s young space-exploration industry. His contributions played a key role in getting Benjamin Netanyahu into office in 1996. In the US, Adelson’s foundation funds medical research at 10 different universities. Aside from Las Vegas’ casinos, Adelson has built a state-of-the-art school, substance abuse centre, and research clinic in the city. His other major passion was fighting against the legalization of drugs, including cannabis. This was personal for him, having lost his son to a drug overdose. Adelson gave millions to ensure no other parent would experience such a tragedy. Sadly, Adelson succumbed to cancer earlier this week. Over the years, he gained a reputation as Israel’s greatest defender, and the biggest advocate of the Jewish people. Friend and fellow-billionaire Michael Steinhardt has said that “Whether he is in the Oval Office, the Prime Minister’s Office, a senator’s office, or a Congressman’s office, his first goal was to be an advocate for the Jewish people and the Jewish community, not for his own personal gain.”

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Valley of Tears: The Miraculous True Story of Outpost 107

Sunscreen Ingredient Linked to Breast Cancer

Europe’s Beef with Jews and Muslims

Simon Cowell Heading to Israeli TV

Atheism Has Failed, Only Religion Can Defeat the New Barbarians

Why America Should Abolish the Lame-Duck Period

Words of the Week

Those who never change their mind never change anything.
– Winston Churchill 

Jew of the Week: Silvio Santos

Brazil’s Most Beloved Person

Silvio Santos (Courtesy: SBT)

Senor Abravanel (b. 1930) was born in Rio de Janeiro, Brazil to Sephardic parents who immigrated from Greece and Turkey. He is a descendant of (former Jew of the Week) Don Isaac Abravanel, who was treasurer to the Spanish monarchy in the 15th century. Senor worked hard from a young age to help support his family. At 14, while working as a street vendor, he got his first job at a radio station. It didn’t last long, as he made more money on the street. Several years later, Abravanel moved to São Paulo and worked a number of jobs in broadcasting before being hired to host a TV game show. Abravanel adopted the stage name “Silvio Santos”. His show was hugely popular, and Santos quickly became a wealthy celebrity. He soon bought the show’s production company, Baú da Felicidade, and started expanding across Brazilian media. He also diversified into real estate, hotels, agriculture, cosmetics, and banking. After years of trying to get his own TV network, the government finally relented in 1981, and Santos launched TVS (now SBT, Brazil’s second most-watched channel). By 1989, Santos was recognized as Brazil’s most famous personality, and that year he even ran for president! His life story—from poor immigrant to Brazil’s first celebrity billionaire—has served as an inspiration to countless Brazilians. He is admired for trying to help his country wherever he can and, in a place of rampant corruption, for paying his taxes. (In fact, Santos is Brazil’s single biggest individual tax-payer.) He was recently voted by Brazilians to be the most beloved person in the country. Amazingly, although he is nearly 90 years old, Santos still appears on television as the host of the Silvio Santos Show.

Why is the Month of Adar Lucky?

Words of the Week

When we want to believe something, we ask ourselves, “Can I believe it?” …and if we find even a single piece of pseudo-evidence, we can stop thinking. When we don’t want to believe something, we ask ourselves, “Must I believe it?” …and if we find a single reason to doubt the claim, we can dismiss it.
– Jonathan Haidt

Jew of the Week: Yuri Milner

Yuri Bentsionovich Milner (b. 1961) was born in Moscow. He studied theoretical physics at Moscow State University before working at the prestigious Lebedev Physical Institute. He found that his abilities in physics were not the best (especially because he was placed on a lower track due to his being Jewish), and decided to switch to business. He first tried selling computers, then went to do an MBA at the University of Pennsylvania, becoming the first person from the Soviet Union to officially study in the US. Upon graduation, he got a job at the World Bank, and in 1995 was made CEO of Russian oligarch Mikhail Khodorkovsky’s investment company. In 1999, Milner read an article and decided it was a good idea to start an online business. He began a series of ventures that brought American-style sites to Russia, including Molotok.ru (the Russian eBay), Boom.ru (free webhosting), and 24×7 (Russia’s Amazon). In 2005, Milner established his own investment fund, Digital Sky Technologies. Five years later, his Mail.ru went public on the London Stock Exchange with a valuation of $5.6 billion. That same year, Milner bought pioneering Israeli instant messaging company ICQ, and has since invested an additional $150 million in Israeli startups. Milner’s venture capital fund has become one of the world’s greatest. He was among the first to invest in Facebook, with an initial $200 million, and plenty more since. He also invested $800 million in Twitter, $125 million in WhatsApp, and $1.6 billion in Alibaba, in addition to Groupon, Snapchat, Airbnb, and Spotify. In 2012, Milner established the Breakthrough Prize, awarding $3 million to great achievements in Physics, Life Sciences, and Mathematics. This is now the largest scientific award in the world, trumping even the Nobel Prize. In 2015, Milner founded the Breakthrough Initiatives to investigate life on other planets. Its first project is a $100 million, 10-year endeavour called “Listen”, searching for radio and laser signals from distant stars with the most sensitive equipment in the world. The most recent Breakthrough Initiative is “Starshot”, investing $100 million to develop a spacecraft that will be accelerated to 20% of the speed of light and take a 20 year journey to our nearest star. Milner also awards (together with Mark Zuckerberg) a $250,000 scholarship to the winner of the Breakthrough Junior Challenge, in addition to $50,000 for that student’s science teacher, and $100,000 for the student’s school science lab. Milner has been on Fortune‘s list of 50 Greatest World Leaders, and TIME’s 100 Most Influential People. He was voted Russia’s Businessman of the Year in 2010, and Man of the Year in 2011, and has been described as “the most interesting man in the world”. Milner recently purchased a house in Los Altos for $100 million, the most ever paid for a single-family home in US history (which the modest Milner was quite embarrassed about). He regularly attends the local synagogue. Milner made the news once again a couple of weeks ago when his Breakthrough Listen project discovered mysterious radio bursts from a distant galaxy, sparking whispers of the possibility of life elsewhere in the universe.

Words of the Week

An atheist has to know a lot more than I know. An atheist is someone who knows there is no god. By some definitions, atheism is very stupid.
– Carl Sagan