Miriam Adelson's Wealth: Insight into the Mavericks' Latest Billionaire Investor



by NOUMAN RASOOL

Miriam Adelson's Wealth: Insight into the Mavericks' Latest Billionaire Investor
© Alex Wong/GettyImages

In a striking development in the sports world, Miriam Adelson, a name synonymous with medical expertise and philanthropy, is poised to become the new majority owner of the NBA's Dallas Mavericks. This move signifies a major shift in the ownership landscape of the league, bringing Adelson, with her diverse portfolio of ventures, into the spotlight.

The current owner, Mark Cuban, is in the process of transitioning the majority share of the team to Adelson and her family, who have a formidable presence in the business world through their management of the Las Vegas Sands casino.

The deal, valued at an impressive USD 3.5 billion, will retain Cuban in his role overseeing basketball operations, ensuring a smooth transition. Adelson's entry into the NBA as one of its wealthiest owners, and her standing as one of the world's richest individuals, is bound to draw significant attention.

Ranked as the 35th richest person globally and the 5th wealthiest woman by Forbes in 2023, her net worth is estimated at a staggering USD 32.3 billion. Her primary source of wealth stems from her position as the lead shareholder in the Las Vegas Sands Corp, a company that manages renowned casino resorts in Singapore and Macau.

The corporation has recently reported substantial financial success, with a net income of USD 449 million and revenue of USD 2.8 billion in the last quarter.

Adelson's Medical Roots

Adelson's journey began in Tel Aviv in 1945, where she embarked on a medical career, later advancing her studies at a prestigious institution in New York.

The 78-year-old, holding dual Israeli and American citizenship, is a specialized physician in chemical addiction treatment, a field she has been involved in since the 1980s. Her expertise originates from her education at the Sackler Medical School at Tel Aviv University.

Her contributions to the field of substance abuse treatment are notable. In 1993, Adelson established a research clinic and substance abuse center at the Sourasky Medical Center in Tel Aviv. Later, in 2000, alongside her late husband, Sheldon Adelson, she inaugurated the Dr.

Miriam and Sheldon G. Adelson Research Clinic in Las Vegas, focusing on treating substance abuse. The Adelsons have been prominent figures in various spheres, extending their influence beyond medicine to politics and philanthropy.

They were known for their substantial contributions to Republican politicians in the U.S., including significant donations to Donald Trump's 2016 presidential campaign. Their political engagement earned Miriam Adelson the Presidential Medal of Freedom in 2018.

Their philanthropic efforts include substantial donations to Birthright Israel, a group sponsoring trips for Jewish heritage individuals to Israel. The Adelsons contributed nearly $500 million over 15 years, though their funding has decreased in the past year.

Currently, Miriam Adelson wears multiple hats, including that of the publisher of the Israel Hayom newspaper and as a voting member of the board of trustees at the University of Southern California. Her achievements in philanthropy and scientific research led to her receiving the Presidential Medal of Freedom from President Trump in 2018.