{"id":74872,"date":"2018-04-09T13:00:22","date_gmt":"2018-04-09T20:00:22","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=74872"},"modified":"2018-04-09T13:38:40","modified_gmt":"2018-04-09T20:38:40","slug":"sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million\/","title":{"rendered":"Sheldon Adelson Gets 100 Percent Raise to $26.1 Million"},"content":{"rendered":"

LVS chairman and CEO Sheldon Adelson is rich<\/a>, even for a casino mogul. In fact, he\u2019s the richest casino mogul on the planet, according to Forbes<\/em>\u2019 Billionaires List, and the 21st<\/span>\u00a0richest man in the world, with an estimated fortune of $38.5 billion.<\/p>\n

\"Adelson
Double the Money! Sheldon Adelson gets $26.1 Million in salary and bonuses in 2017 to go with the $1 billion in dividends on shares held by the Adelson family. Meanwhile, the Wynn board of directors appears to be raking it in too. (Image: Roslan Rahman\/AFP)<\/figcaption><\/figure>\n

You could argue, then, that he\u2019s the 21st<\/span>\u00a0person least in need of a pay rise on the planet. But according to securities filings last week, LVS increased Adelson\u2019s pay packet by 100 percent in 2017, to $26.1 million.<\/p>\n

On top of his $5 million salary, the 84-year-old received a $12.5 million cash bonus, along with $4.21 million in equity awards and $4.38 million in \u201ctaxable perks,\u201d according to Bloomberg<\/em>.<\/p>\n

$1 Billion in Dividends<\/strong><\/h2>\n

And thanks to a resurgent Macau driving LVS\u2019 stock heavenwards, more than $1 billion in dividends were paid on shares held by the Adelson family, according to data crunched by Bloomberg<\/em>. The Adelsons collectively own more than half of the company.<\/p>\n

LVS\u2019 interests in Macau, from which it derives over half its revenues, have transformed it into the biggest gaming company in the world over the past two decades.<\/strong><\/p>\n

With Macau\u2019s economic slump bottoming out in the summer of 2016, the gambling hub has enjoyed 20 consecutive months of growth, boosting LVS\u2019s revenues by leaps and bounds. Profits for the group grew 68 percent in 2017 to $2.81 billion.<\/p>\n

Wynn Board Best-Compensated in Vegas<\/strong><\/h2>\n

Meanwhile, while the salary structure at LVS may be a little \u201ctop heavy,\u201d the Las Vegas Review-Journal<\/em> reports this week that the Wynn board is the highest paid board of directors in Las Vegas, outstripping most other Strip casino companies by around 50 percent.<\/p>\n

Wynn directors receive $310,000 per year, including $250,000 in the form of company stock, according to business data analyst Equilar.<\/strong><\/p>\n

The revelation comes at a time when Wynn\u2019s board faces criticism for its alleged failure to react to the alleged sexual misconduct<\/a> of its former chairman and CEO Steve Wynn.<\/p>\n

Fiduciary Breach?<\/strong><\/h2>\n

In the wake of a Wall Street Journal<\/em> expos\u00e9 of Wynn\u2019s alleged behavior, a series of investor lawsuits have accused the board of neglecting to protect the company, while turning a blind eye.<\/p>\n

\n

LVRJ<\/em> noted that rather than being a clear measure of a board\u2019s competence, higher compensation can be \u201ca red flag\u201d indicating cronyism, quoting a study last year by professors Mustafa Dah of the Lebanese American University and Melissa Frye of the University of Central Florida.<\/span><\/p>\n<\/div>\n

\u201cOverall, our findings suggest that director excess compensation may be a sign of board entrenchment where overcompensated directors are not necessarily focused on protecting shareholder interests,\u201d the research concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

LVS chairman and CEO Sheldon Adelson is rich, even for a casino mogul. In fact, he\u2019s the richest casino mogul on the planet, according to Forbes\u2019 Billionaires List, and the 21st\u00a0richest man in the world, with an estimated fortune of $38.5 billion. You could argue, then, that he\u2019s the 21st\u00a0person least in need of a […]<\/p>\n","protected":false},"author":36,"featured_media":74874,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nSheldon Adelson Gets 100 Percent Raise to $26.1 Million<\/title>\n<meta name=\"description\" content=\"Sheldon Adelson gets pay rise of 100 percent to go with his $1 billion in dividends, while it\u2019s revealed the Wynn board is the best compensated in Las Vegas, despite the shareholder lawsuits building up over its former chairman\u2019s alleged behavior.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sheldon Adelson Gets 100 Percent Raise to $26.1 Million\" \/>\n<meta property=\"og:description\" content=\"Sheldon Adelson gets pay rise of 100 percent to go with his $1 billion in dividends, while it\u2019s revealed the Wynn board is the best compensated in Las Vegas, despite the shareholder lawsuits building up over its former chairman\u2019s alleged behavior.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-09T20:00:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-04-09T20:38:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/04\/shel.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1331\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million\/\",\"url\":\"https:\/\/www.casino.org\/news\/sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million\/\",\"name\":\"Sheldon Adelson Gets 100 Percent Raise to $26.1 Million\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/04\/shel.jpg\",\"datePublished\":\"2018-04-09T20:00:22+00:00\",\"dateModified\":\"2018-04-09T20:38:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Sheldon Adelson gets pay rise of 100 percent to go with his $1 billion in dividends, while it\u2019s revealed the Wynn board is the best compensated in Las Vegas, despite the shareholder lawsuits building up over its former chairman\u2019s alleged behavior.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/sheldon-adelsons-gets-100-percent-raise-lvs-pays-boss-26-1-million\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/04\/shel.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/04\/shel.jpg\",\"width\":2000,\"height\":1331,\"caption\":\"Double the Money! 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