LVS approves 400 percent rise in multi-billionaire casino chief’s salary
The multi-billionaire land casino chief Sheldon Adelson (84) will have more cash to splash on his ambition to shut down online gambling in the United States following the approval of a 400 percent salary boost by the board of his Las Vegas Sands casino group recently.
InfoPowa readfers will recall that Adelson has waged an unrelenting – and thus far unsuccessful – war on online gambling for the past decade, generously funding outfits like the Coalition to Stop Internet Gambling, squads of PR experts and lobbyists, and politicians seeking election donations.
Adelson and family also own the Las Vegas Review-Journal, which reported this week on his new employment contract; this raises his annual base salary to $5 million with eligibility for an annual cash bonus of up to $12.5 million. He is also eligible for an annual stock option grant to purchase more stock in LVS, and reimbursement of up to $200,000 for annual expenses.
The salary increase makes Adelson the highest paid CEO on the S&P list of top 500 paid executives in the United States, whilst the business publication Forbes estimates his personal net worth at $35.5 billion.
Online Casino News Courtesy of Infopowa
