Miriam Adelson richest casino boss, Lawrence Ho off Forbes

April 7, 2022 Macau Earnings & Filings

An Adelson family member again takes top spot among those wealthy people who derive riches from Asian casino gambling business, according to Forbes’ World’s Billionaires List 2022, released on Tuesday.

Miriam Adelson (pictured with her late husband, Sheldon Adelson), is at number 50 on the global rich list, with an estimated net worth of US$27.5 billion.

Mr Adelson, who died in January 2021, founded Las Vegas Sands Corp. The United States-based group has casino operations in Macau and Singapore, and in February this year completed the US$6.25-billion sale of its Las Vegas operation and real estate.

But falling out of Forbes’ billionaires list in 2022 – having been worth US$2.4 billion in 2021 – was Lawrence Ho Yau Lung, chairman and chief executive of casino group Melco Resorts and Entertainment Ltd, which has operations in Macau, the Philippines and Cyprus.

There are 2,668 people featured on Forbes’ 36th-annual ranking of the planet’s richest people. That means 87 fewer than a year ago. Those listed are worth a collective US$12.7 trillion, i.e., down US$400 billion on 2021′s aggregate.

Many of those with riches derived from the Asian casino sector have seen a year-on-year decline in their net worth, linked to a decline in stock prices.

The second gaming name on Forbes’ 2022 global list, at number 166, is Lui Che Woo, chairman of Macau casino operator Galaxy Entertainment Group Ltd, with US$11.6 billion, down from US$19.4 billion last year.