• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

Anti-Marijuana Billionaire In The Spotlight - Sheldon Adelson

News has been flying around surrounding the overwhelmingly large contributions that billionaire casino king Sheldon Adelson has been making to fight the legalization of marijuana.

 

So far this election cycle, Adelson has contributed a total of over $4.5 million to fight the legalization of marijuana in Arizona, Nevada, Massachusetts, and Florida.

 

Who is Sheldon Adelson and why does he hate the idea of legalizing marijuana so much even on a medical level?

 

Who is Adelson?:

 

According to Adelson's Forbes profile, he's got a current net worth of $31.7 billion, making him the 14th richest man in the U.S. 2016, working his way up from 15th in 2015.

 

A drop out from the City College of New York, Adelson is a self-made casino titan. When he's not busy as Chairman and CEO of Las Vegas Sands Corp. (NYSE:LVS), he's making large political contributions to buy what he believes to be the right future for America. This election cycle, marijuana seems to be in his cross-hairs, and he's cutting big checks to fight legalization in a handful of states. 

 

Anti-Marijuana Contributions By State:

 

According to Ray Stern's article in The Phoenix New Times, Adelson's most recent donation was last week's half a million dollars donated to fight Proposition 205 to legalize and regulate marijuana in Arizona. Adelson's anti-marijuana contributions by state this election cycle are:

  • Arizona: $500,000

  • Florida: $1,000,000

  • Massachusetts: $1,000,000

  • Nevada: $2,000,000

Why Does Adelson Hate Weed?:

 

It is uncertain what Adelson's exact motives are. It could be that marijuana is so much more rewarding than gambling. If it were to be legal all across the United States, maybe Adelson is worried that people would be too stoned to fly to Las Vegas and gamble away savings. Comment below the article to let us know what you think!

 

Barbara Corcoran Said It Best:

 

Entrepreneur editor, Kim Lachance Shandrow's recent article covering the Shart Tank stars' views on marijuana, Barbara Corcoran made a point that is fitting to share with 83 year old Adelson. "What’s going to destigmatize marijuana is having the old people die off. Anyone who’s under 30 believes in it.”

 

Never miss and update! Subscribe to The Daily Marijuana Observer newsletter today!

 

Photo Credit: Wikimedia 

 

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.