Steve Wynn is an American casino resort/real estate developer and art collector, with a net worth of $3.4 billion.
Wynn is one of Nevada’s richest persons, debuting at #377 on the list of the 400 richest Americans in September 2003 with a net worth of $650 million. Just six months later, his net worth had risen to $1.1 billion.
Wynn’s personal and commercial contributions to both the Las Vegas Strip and the city as a whole have permanently boosted Las Vegas’ prosperity.
Who is Steve Wynn?
Steve Wynn was born Stephen Alan Weinberg on January 27, 1942, in New Haven, CT. His father, Michael, ran a chain of illegal bingo parlors on the East Coast. He changed the family’s surname to Wynn in 1946 to avoid anti-Jewish persecution.
The Wynn family relocated to Las Vegas in 1952 so that his father, Mike, could run his bingo parlor at the Silver Slipper casino on the Strip. However, after six weeks, he was out of business due to the significantly more popular bingo games at the Golden Nugget in downtown Las Vegas. Following the demise of the bingo parlor, the Wynns relocated to Maryland.
Wynn received his BA in English literature from the University of Pennsylvania. He was part of the Sigma.
Wynn received his BA in English literature from the University of Pennsylvania. He was a member of the Sigma Alpha Mu fraternity throughout college.
Wynn’s father died shortly before he graduated from Penn in 1963, leaving him $350,000 in gambling debt. Wynn had planned to attend Yale Law School, but he decided against it. Instead, he took up his family’s business in Waysons Corner, Maryland.
How old is Steve Wynn?
He is currently 82 years old.
How much is Steve Wynn net worth?
He is estimated to be worth $3.4 billion.
What is Steve Wynn career?
Wynn and his family came to Las Vegas in 1967, when he bought a modest share in the Frontier Hotel and Casino. That year, he met E. Parry Thomas, president of the Bank of Las Vegas, the only bank at the time willing to lend to Las Vegas casinos, and Thomas assisted Wynn in financing some of his early property transactions. Wynn also spent four years running a wine and liquor importation company he had owned, beginning in 1968.
In 1971, Wynn acquired a majority interest in the Golden Nugget Las Vegas, one of the city’s oldest casinos. His corporate ownership grew to the point that, in 1973, he became the majority shareholder and the youngest casino owner in Las Vegas.
He opened the first hotel tower at the Golden Nugget in 1977, followed by numerous more. Frank Sinatra was a frequent headliner at the Golden Nugget, and Wynn has maintained a relationship with the Sinatra family, even calling a restaurant at Encore “Sinatra”.
In 1980, Wynn started building the Golden Nugget Atlantic City in Atlantic City, New Jersey. It was Atlantic City’s first and only “locals casino” and the city’s sixth casino since gambling was legalized in 1976. The Golden Nugget was designed by Joel Bergman, who had previously designed Wynn’s other resorts.
Though it was the city’s second smallest casino when it opened, it had become the city’s highest-earning casino by 1983. Wynn sold the Atlantic City Golden Nugget in 1987 for $440 million.
Source: www.ghgossip.com
