Steve Wynn is the richest blind man in the world with a net worth of $3.3 billion. The casino developer suffers from retinitis pigmentosa, which can render one legally blind, according to my research.
He is a real estate businessman and art collector. He went to the University of Pennsylvania to study English literature.
Steve was diagnosed with retinitis pigmentosa, an irreversible, genetic eye condition that leads victims to gradually go blind when he was 29 years old in 1971. He was the 279th wealthiest American, with a net worth of 3 billion dollars, according to the 2020 stat.
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Who Is Steven Wynn?
The richest blind man was bornStephen Alan Weinberg on January 27, 1942, in New Haven, Connecticut. Michael, his father, ran a bingo parlour business in the eastern United States.
Zelma his mother, was from Maine. When Wynn was four years old, his father changed the family’s last name from “Weinberg” to “Wynn” to “avoid anti-Jewish discrimination.”Wynn grew up in Utica, New York, and graduated in 1959 from The Manlius School, a private boys’ school east of Syracuse.
According to Wikipedia, he graduated from the University of Pennsylvania with a bachelor’s degree in English literature and was a member of the Sigma Alpha Mu fraternity.
His father died during heart surgery just before his graduation in March 1963, leaving $350,000 in gaming debts. Wynn left his post as a professor at Yale Law School to run his family’s bingo hall in Waysons Corner, Maryland.
In 1963, Wynn married Elaine Farrell Pascal. In 1986, they divorced, remarried in 1991, and divorced again in 2010. Elaine Wynn was on the company’s board of directors for 13 years, ending in 2015. Kevyn and Gillian are their two daughters.
Kevyn was kidnapped in 1993, and Wynn paid a $1.45 million ransom for her safe release. When one of the kidnappers tried to buy a Ferrari with cash in Newport Beach, California, he was captured. Several hours later, Kevyn was discovered uninjured.
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The Richest Blind Man In The World
The Mirage, Treasure Island, Bellagio, and Wynn Las Vegas are just a few of Steve Wynn’s renowned Las Vegas casinos.
After dozens of women accused him of sexual misconduct, he resigned as chairman and CEO of Wynn Resorts in February 2018. Wynn denies the claims.
In 2002, he and his then-wife, Elaine Wynn, co-founded Wynn Resorts. They eventually divorced. She is now the gaming company’s top stakeholder.
He fought Elaine for years over their divorce arrangement, as well as his old partner Kazuo Okada, whom he accused of bribery, which Okada denied.
In 2018, The Wall Street Journal revealed many legal difficulties including sexual misconduct charges against Wynn. A manicurist made one of the allegations, for which Wynn later paid a $7.5 million settlement.
Nevada regulators penalized Wynn’s corporation $20 million in February 2018 for failing to respond to sexual misconduct allegations. Due to the Massachusetts Gaming Commission’s conclusions that previous corporate leaders covered up sexual misconduct complaints against Steve Wynn, Wynn Resorts was fined $35 million in April 2019.
How Steve Wynn Made His Money
The richest blind man in the world made his wealth in the casino business, opening prominent gambling establishments such as The Mirage and Bellagio.
In the 1990s, he was noted for revitalizing the Las Vegas Strip and constructing projects in rich overseas markets such as Macau. Despite being accused of sexual misbehaviour and generally disappearing from the public glare, Wynn has amassed a sizable fortune.
Wynn might have retired as a wealthy man in the 1980s, but he had much bigger plans for Las Vegas’ future, and with the support of junk bonk king Michael Milken, he built the $630 million Mirage, which debuted in 1989.
The resort had 3,000 hotel rooms and a volcano in front of it, but it needed to generate $1 million in sales every day just to stay afloat. Many people predicted Wynn would lose the bet.
In a $4.4 billion hostile takeover in 2000, Wynn sold his investment in Mirage Resorts Inc., netting him around $500 million. Stephen A. Wynn’s climb to billionaire status has had its ups and downs, but one pattern has developed that has defined his whole career. He aspires to create the best possible properties. He builds the best and spares no expense in the design of hotel rooms, nightclubs, golf courses, stores, and entertainment venues.
This can cause quarterly revenues to fluctuate, costing him Mirage Resorts, but in the long run, it’s been a successful strategy for developing value for the brand and shareholders.
He may be one of the most well-known developers in history, but based on his long track record of success and the fact that his finest ventures may still be ahead of him, I’d be prepared to gamble on him as an investor.
