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Miriam Adelson slashed her philanthropy as casinos closed due to Covid. Now, her business empire is recuperating
(JTA) – The casino company controlled by Jewish megadonor Miriam Adelson is paying its shareholders dividends again, potentially paving the way to a rebound for the family’s foundation.
The Adelson Family Foundation — founded by Adelson and her late husband, Sheldon Adelson — has been a prolific giver to Jewish organizations, including Birthright Israel. The couple was also active in politics, supporting Republican campaigns. But after the casino industry flat-lined early in the pandemic, Adelson donations to charitable and political causes declined.
Assets held in the family’s charitable trust dropped from more than $200 million before the pandemic to $37 million in 2021 as it distributed money to the foundation and other causes without being replenished, according to records filed with the IRS.
The foundation’s grantmaking dropped to $80 million in 2021 from $100 million the year before and $117 million in 2019, according to IRS records. The foundation had only about $6 million in reserves at the end of 2021. More recent numbers are not yet available.
The dip in giving has had a significant impact. The Birthright program, for example, saw its funding from the Adelson Family Foundation cut by half in each of the past two years, with a corresponding drop in free trips for young Jews to Israel.
Now, Adelson’s business prospects appear to be improving. Her Las Vegas Sands Corp. announced that it would pay dividends to shareholders for the first time in more than three years as the company begins to recover from the pandemic-related downturn in global travel and hospitality. Adelson’s own personal payout is expected to be about $87 million for the quarter, a substantial sum but still a fraction of what she and her husband were regularly collecting before the pandemic.
It’s unknown whether or when the cash infusion will spell a restoration of funding for the various organizations that have seen a drop in support from Adelson over a period of several years, which has included Sheldon Adelson’s death at 87 more than two years ago. Adelson’s representatives said she is not giving interviews at the moment; Michael Bohnen, president of the Adelson Family Foundation, declined to comment.
The list of organizations that have been buoyed by Adelson’s support is long and varied. It includes right-wing advocacy groups like the Maccabee Task Force Foundation, which operates on college campuses; the Israeli-American Council and Zionist Organization of America; U.S. fundraising groups benefiting the Israeli military; the Yad Vashem Holocaust museum and memorial in Jerusalem; and the Adelson Family Campus, a large Jewish day school in Las Vegas, where Adelson lives.
Jonathan Sarna, a professor of American Jewish history at Brandeis University, said he is confident in the Adelson family’s commitment to the charities it has supported. “The Adelson family has played a pivotal role in Birthright Israel and in the organization of the large community of Israelis in the U.S. through IAC,” he said. “They have also contributed to countless other Jewish philanthropic endeavors, including Jewish day schools and the Jewish community of Las Vegas. I have no doubt that the family will continue its tradition of philanthropic generosity.”
Andrés Spokoiny, president and CEO of the Jewish Funders Network, said the Jewish philanthropic world doesn’t rise or fall because of any one donor, even a philanthropist as prolific as Adelson. “The funding landscape is diverse and there is no sense of dependence on a single donor,” he said.
The Adelson name is also big in Republican politics: The couple broke a record for the most donations in an election cycle in 2020, with almost $173 million in campaign contributions. But the 2022 midterm election saw the newly widowed Adelson give only a fraction of that, with no contribution at all to the Republican Jewish Coalition, whose top patron became WhatsApp founder Jan Koum, who gave a $1.35 million donation to RJC’s Super PAC.
The reinstatement of dividends was made possible by increased visitation to Sands casinos in Macao and Singapore in recent months, which generated revenues of $2.5 billion for the second quarter, double what they were a year ago. Executives at the company said business still hasn’t returned to pre-pandemic levels, suggesting room for further growth.
“In Macao, we were pleased to see the ongoing recovery now underway in all gaming and nongaming segments progress during the quarter,” Sands Chairman and CEO Rob Goldstein said during a conference call on July 19 with investors. “We remain deeply enthusiastic about the opportunity to continue our investments to enhance Macao’s tourism appeal to travelers from throughout the region, including to foreign visitors to Macao.”
As a result of Sands’ profitability, the company is paying shareholders a dividend of 20 cents per share. Adelson’s roughly 57% stake is valued at more than $35 billion, placing her among the 40 richest people in the world according to Forbes.
Under Miriam Adelson, Sands has been lobbying to legalize gambling in Texas and is pursuing a bid for one of three licenses to operate a casino in New York.
Sheldon Adelson, who founded Las Vegas Sands and served as its CEO as it grew into an international gambling and resort empire, died in January 2021, living long enough to see Sands revenues plummet because of Covid-related lockdowns. The following year, the company, now controlled solely by Miriam, sold its marquee Las Vegas properties, The Venetian and the Sands Expo and Convention Center, for $6.5 billion in a bet on its Asian casinos and resorts.
It’s not the first time the Adelson empire has faced and recovered from economic headwinds. Adelson had begun expanding in Asia ahead of the 2008 financial crisis, borrowing heavily to finance the construction of new casinos and hotels. The company had lost billions as a result of the timing and the Adelsons paused much of their giving for a few years.
Whether Miriam Adelson desires to shift philanthropic priorities following the death of her husband remains unknown. The 77-year-old, an immigrant to the United States from Israel and a naturalized American citizen, earlier this year criticized the judicial reform being pursued by the government of Israeli Prime Minister Benjamin Netanyahu, which was notable because of the Adelsons’ long-standing support for Netanyahu.
Compared to her husband, Miriam has kept out of the public spotlight, with a significant exception in 2018, when Donald Trump awarded her the Presidential Medal of Freedom, the nation’s top civilian honor. A profile of her in the Guardian shortly afterward suggested that she had been far more influential in the couple’s activities than many realized.
“Everybody says it’s Sheldon, but it’s Miriam,” Michael Cherry, a board member of the Las Vegas addiction recovery clinic that the Adelsons founded, was quoted as saying.
Together with her husband, Miriam was the largest donor to Trump’s 2016 presidential bid. But she has not yet announced support for Trump this time around as he seeks to win the Republican nomination and get reelected in 2024. Earlier this year, Trump’s rival, Florida Governor Ron DeSantis, was reportedly courting Adelson and other Jewish conservative donors. DeSantis and Adelson were seen seated together at a dinner in Jerusalem. But Adelson has reportedly said that she does not plan to make an endorsement in the primary.
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Majority of New York City Hate Crimes Targeted Jews in 2024, New Data Shows
Anti-Israel protesters target a synagogue in Queens, New York on July 14, 2024. Photo: Screenshot
Jews were targeted in the majority of hate crimes perpetrated in New York City last year, according to new data issued by the New York City Police Department (NYPD).
On Monday, the NYPD released its end-of-year crime report, which recorded a precipitous drop in crime overall but also the disturbing numbers on antisemitic hate crimes. Out of the 641 total hate crimes tallied by the NYPD, 345 targeted Jews, which, in addition to being a 7 percent increase over the previous year, amounted to 54 percent of all hate crimes in the city.
As The Algemeiner previously reported, antisemitic hate crimes in 2024 posed a major threat to the quality of life of New York City’s Orthodox Jewish community, which was the target in many of the incidents. In just eight days between the end of October and the beginning of November, three Hasidim, including children, were brutally assaulted in the Crown Heights section of Brooklyn. In one instance, an Orthodox man was accosted by two assailants, one masked, who “chased and beat him” after he refused to surrender his cellphone in compliance with what appeared to have been an attempted robbery.
In another incident, an African American male smacked a 13-year-old Jewish boy who was commuting to school on his bike in the heavily Jewish neighborhood. Less than a week earlier, an assailant slashed a visibly Jewish man in the face as he was walking in Brooklyn.
Days after the week-long antisemitic hate crime spree, three men attempted to rob a Hasidic man after stalking him through the Crown Heights neighborhood.
The explosion of hate continued a trend. In 2023, antisemitic incidents accounted for a striking 65 percent of all felony hate crimes in New York City, according to a report issued in August by New York state comptroller Thomas DiNapoli. The report added that throughout the state, nearly 44 percent of all recorded hate crime incidents and 88 percent of religious-based hate crimes targeted Jews.
Other major cities and states have recently reported increases in antisemitic hate crimes.
In Los Angeles County, antisemitic hate crimes rose 91 percent in 2023, from 127 the prior year to 242 in what the LA County Commission on Human Relations (LACCHR) described as “the largest number of anti-Jewish crimes ever” in the city.
Additionally, the state of Massachusetts saw more antisemitic hate crimes in 2023 than at any time since government officials began tracking such data eight years ago, according to a report issued by its Executive Office of Public Safety and Security (EOPSS).
A striking 119 antisemitic hate crimes were reported to law enforcement agencies, EOPSS said, a total which, in addition to eclipsing 2015’s total of 56 incidents, amounts to a 70 percent increase over the previous year. Antisemitic hate crimes also constituted 18.8 percent of all hate crimes reported in 2023, a figure which trails only behind the percentage of hate crimes which targeted African Americans.
The report added that 68.9 percent of the antisemitic incidents involved property destruction or vandalism, a total of 82, while another 19 percent involved intimidation. Some physical assaults, six, were recorded or reported to the police.
“The local increase reflects national trends. Our data showed that over 10,000 antisemitic incidents were recorded in the US since Oct. 7, 2023, an over 200 percent increase compared to incidents reported to us during the same period a year before,” Peggy Shukur, vice president of the ADL’s East Division, told The Algemeiner when the information became public. “Behind every one of these numbers are people who have experienced the harm, fear, intimidation, and pain that reverberates from each of these incidents. The fact that numbers increase by 70 percent is a grim reminder that antisemitism continues to infect our communities in real and pervasive ways.”
Overall, anti-Jewish hate crimes in the US spiked to a record high in 2023, and American Jews were the most targeted of any religious group in the country, according to a report released by the Federal Bureau of Investigation (FBI) in September.
Follow Dion J. Pierre @DionJPierre.
The post Majority of New York City Hate Crimes Targeted Jews in 2024, New Data Shows first appeared on Algemeiner.com.
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Trump Vows ‘Hell Will Break Out in the Middle East’ if Gaza Hostages Not Released by His Inauguration
US President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, US, Jan. 7, 2025. Photo: REUTERS/Carlos Barria
US President-elect Donald Trump on Tuesday reiterated his threat to seek retaliation against Hamas if the Palestinian terrorist group does not release the remaining hostages in the Gaza Strip.
“If [the hostages] aren’t back by the time I get in office, all hell will break out in the Middle East, and it will not be good for Hamas. And it will not be good, frankly, for anyone. All hell will break out,” Trump told reporters.
Trump made the comments during a wide-ranging press conference at his Mar-a-Lago resort in Palm Beach, Florida. He stood alongside Steve Witkoff, the recently appointed special envoy to the Middle East for his incoming administration.
“They should’ve never taken them. They should’ve never been the attacker of Oct. 7, but there was. Many people [were] killed. They’re no longer hostages,” Trump added.
On Oct. 7 of last year, Hamas-led Palestinian terrorists murdered 1,200 people and kidnapped 251 hostages to Gaza during their invasion of southern Israel. During the onslaught, 45 Americans were killed and 12 were abducted.
About 100 hostages, both dead and alive, remain in Gaza, including seven Americans. Three of them — Keith Siegel, Sagui Dekel-Chen, and Edan Alexander — are thought to still be alive. Three others — Itay Chen, Gadi Haggai, and Judi Weinstein Haggai — are believed to be murdered by the terrorist group, with their bodies still in the Palestinian enclave. The Israel Defense Forces (IDF) revealed last month that Israeli-American hostage Omer Neutra was killed during the Oct. 7, 2023 attacks, and his body was taken by terrorists into Gaza. Neutra was initially presumed to be among the living captives.
In total, 100 hostages remain in Gaza, and at least a third of them are believed to be dead.
Trump said on Tuesday that families of hostages have approached him in tears, desperately begging for a deal to secure their loved ones’ release from captivity.
The president-elect emphasized the importance of dispatching a “great negotiator” to broker a ceasefire deal to halt fighting between Israel and Hamas in Gaza and free the remaining hostages, gesturing to Witkoff. Trump added that although he does “not want to hurt the negotiations,” he believes that reiterating his threats to unleash “hell” across the Middle East will incentivize Hamas to reach a deal in the upcoming weeks.
Trump has repeatedly vowed to take aggressive action to secure the return of the remaining hostages. He has previously promised that Hamas will have “hell to pay” if the terrorist group does not release those still held captive in the Gaza Strip.
“Everybody is talking about the hostages who are being held so violently, inhumanely, and against the will of the entire World, in the Middle East – But i’’s all talk, and no action!” Trump posted last month on the social media platform Truth Social. “Please let this TRUTH serve to represent that if the hostages are not released prior to January 20, 2025, the date that I proudly assume Office as President of the United States, there will be ALL HELL TO PAY in the Middle East, and for those in charge who perpetrated these atrocities against Humanity.”
“Those responsible will be hit harder than anybody has been hit in the long and storied History of the United States of America. RELEASE THE HOSTAGES NOW!” he added.
The post Trump Vows ‘Hell Will Break Out in the Middle East’ if Gaza Hostages Not Released by His Inauguration first appeared on Algemeiner.com.
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US Lawmaker Says Washington Funding Taliban, Pens Letter Urging Trump to Halt Aid
US Rep. Tim Burchett (R-TN) on Dec. 5, 2024. Photo: Mattie Neretin / CNP/Sipa USA via Reuters Connect
US Rep. Tim Burchett (R-TN) recently penned a letter to President-elect Donald Trump claiming that Washington is “funneling” money to the Taliban government in Afghanistan and calling on his incoming administration to stop such foreign aid, citing the Taliban’s extensive history of supporting Islamist terrorism.
“I write to express my strong concerns with foreign aid being funneled to the Taliban and my desire to work with your administration to stop tax dollars from going to terrorists,” Burchett wrote in the letter dated Jan. 2. “It was brought to my attention the US State Department, under the Biden administration, was funneling money to the Taliban.”
Burchett claimed that after questioning US Secretary of State Antony Blinken, the top American diplomat “admitted that non-governmental organizations paid nearly $10 million of foreign aid to the Taliban in taxes.”
The lawmaker said that sending foreign aid to the Taliban undermines US national security, arguing that American government agencies are incapable of tracking how the Islamist movement spends US dollars.
“The larger issue, which Secretary Blinken failed to acknowledge, is the shipments of cash payments in United States dollars to Afghanistan’s central bank,” Burchett wrote. “These cash shipments are auctioned off and after that, they are nearly impossible to track. This is how the Taliban is being funded and plans to fund terrorism around the world.”
We have got to quit funding the Taliban under @realDonaldTrump. $40 million a week to our enemies is a slap in the face to those who served. pic.twitter.com/MVgMnSo1Gn
— Rep. Tim Burchett (@RepTimBurchett) January 6, 2025
The lawmaker did not provide any direct evidence in the letter to support his claims, although the US has provided extensive aid to Afghanistan. According to an October 2023 report from the US Agency for International Development (USAID), the US has provided nearly $2 billion in humanitarian assistance for Afghans since mid-August 2021, making Washington the largest humanitarian donor in Afghanistan. It is unclear how much of that money has ended up in the hands of the Taliban, which the US and other countries have designated as a terrorist group.
“The United States of America should not fund its enemies abroad. I implore you to take action to put an end to wasteful foreign aid spending and to support efforts in Congress to put Americans first,” Burchett wrote. “I look forward to working with you during your second term as president.”
Burchett added that he plans on reintroducing legislation that would require the State Department to “discourage foreign countries from providing financial or material support to the Taliban, and to report on direct-cash assistance programs and Taliban influence over Afghanistan’s central bank.”
He claimed that while the bill — first introduced in 2023 — passed the US House “unanimously,” Senate Majority Leader Chuck Schumer (D-NY) refused to bring the bill to the floor for a vote.
Following the release of Burchett’s letter, billionaire and X/Twitter owner Elon Musk, who will serve in the Trump administration as co-head of the Department of Government Efficiency, sparked a debate online regarding the allegations.
“Are we really sending US taxpayer money to the Taliban?” Musk wrote on X on Monday.
The distribution of American taxpayer dollars to Afghanistan has emerged as a hot-button issue for Republicans in recent months. In December, US Rep. Brian Mast (R-FL) blasted Blinken over the transfer of US dollars to the country.
“There’s an American citizen out there, literally woke up this morning losing 30% of their paycheck. And a good percentage of that is going to the Taliban or other programs abroad,” Mast said. “And this is something that we all need to think about, and we will be thinking about deeply for the next two years. There’s a joke that’s made often out there about kids going to college to learn basket weaving, and what a joke that would be. But the United States right now is literally sending tens of millions of dollars to the Taliban. 14.9 million, to be exact, to teach Afghans how to do carpet weaving.”
“Even worse, by the numbers, we spent $9 billion to resettle 90,000 roughly Afghan refugees here since the fall of Afghanistan. My simple Army math tells me that’s about $100,000 a person. That’s absurd. So my question for you. We do not even have an embassy in Afghanistan. We have no diplomats there. What are we doing giving them $1?” Mast continued.
The Taliban infamously provided a safe haven for al Qaeda before the 9/11 attacks and was accused of sheltering Osama bin Laden and his terrorist group afterward. A US-led military coalition subsequently removed the Taliban from power in Afghanistan in 2001.
In 2021, however, the Taliban once again seized power in Afghanistan, amid US President Joe Biden’s military withdrawal from the country.
The post US Lawmaker Says Washington Funding Taliban, Pens Letter Urging Trump to Halt Aid first appeared on Algemeiner.com.
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