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Miriam Adelson & family

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Latest moves

Miriam Adelson & familyIPO / MarketsReal estateLVSAI read · ▼ Miss

Las Vegas Sands profit falls on Asia high-end slowdown

The move

Las Vegas Sands reported Q3 2026 net revenue of $3.2 billion, down from $3.3 billion a year earlier, and net income of $352 million, down from $491 million. Adjusted EPS of 54 cents missed the 68-cent analyst estimate. The company still bought back $950 million of stock in the quarter. CEO Patrick Dumont said "the high end was softer in both of our markets this quarter, which negatively impacted our reported financial results."

Why it matters

It points to cooling VIP gambling demand in Singapore and Macau, the company's two main markets.

The bear case

Continuing a $950 million buyback despite the earnings miss suggests management sees the dip as temporary, not structural.

What to watch

Whether high-end demand recovers in Macau and Singapore next quarter.

Jensen HuangPolicyOtherNVDA · AAPLAI read · — Optics risk

Nvidia and Apple each gave $25 million to Trump's ballroom

The move

A Washington Post report, based on an internal fundraising spreadsheet, named Nvidia and Apple as the largest donors to the White House ballroom project at $25 million each. The Adelson Family Foundation and Dish Network co-founder Charlie Ergen matched that amount. Cisco gave $5 million. Donations tracked so far total more than $330 million toward a project the administration has said needs about $400 million; Trump himself was not listed as a donor.

Why it matters

It raises questions about the optics of companies with major federal contracts personally funding a presidential project, even though the reporting doesn't tie any donation to a specific government decision.

The bear case

Huang said Nvidia was contributing only 'in a small way,' and the report does not establish that any donor received favorable treatment in return.

What to watch

Whether other large federal contractors disclose similar gifts as the fundraising total nears its goal.

Recent SEC filings

SEC filings · last 90 days

Gifted 9M LVS
Adelson Miriam · filed Sep 2, 2026

Form 4 insider trades post within 2 business days. 13F fund holdings can arrive 45 days after quarter end. New to filings? Read Filings 101.

Footprint

Companies

Las Vegas Sands Corp.LVS · NYSE · Controlling shareholder · 59.7% · as of Aug 2026 · ▼ 1.94%
More
Ticker
LVS
Exchange
NYSE
Role
Controlling shareholder; Adelson group (Dr. Adelson, co-trustee Irwin Chafetz and family trusts) beneficially owned 386,728,789 shares (59.7%); Dr. Adelson individually reported 341,442,911 shares (52.7%). Son-in-law Patrick Dumont is Chairman & CEO since March 1, 2026.
Stake
59.7% (group); 52.7% (Dr. Adelson)
Stake as of
2026-08-07
source ↗
Dallas Mavericks (NBA)Majority owner with Dumont family · majority (reported ~57%… · as of Dec 2023
More
Role
Majority owner with Dumont family (bought from Mark Cuban; NBA approved Dec 2023 at ~$3.5B valuation); Patrick Dumont is team governor
Stake
majority (reported ~57% implied at $3.5B valuation)
Stake as of
2023-12
source ↗
Las Vegas Review-JournalFamily-owned newspaper
More
Role
Family-owned newspaper (purchased 2015)
source ↗
Israel HayomPublisher
More
Role
Publisher (since 2018); family owns primary shareholder of the Hebrew daily
source ↗

Investment vehicles

The Miriam Adelson Trusttrust
More
Type
trust
Notes
Sold ~$2B of LVS stock in Dec 2023 to fund Mavericks purchase; exercised and sold 77,991 LVS option shares at ~$67.56 on 2025-12-16
source ↗
ESBT S Trust / ESBT Y-II Trust / QSST A-II Trust / QSST M-II Trusttrust
More
Type
trust
Notes
Family trusts that on 2026-06-16 received 175.4M LVS shares distributed from the Sheldon G. Adelson 2007 Remainder Trust and 2007 Friends and Family Trust; on 2026-08-07 ESBT S-II transferred 43.9M shares to ESBT S Trust. Each holds ~6.8-7.2% of LVS.
source ↗

Private deals

Sheldon G. Adelson 2007 Remainder Trust and 2007 Friends and Family Trust distributed 87,718,919 and 87,718,918 LVS…Jun 2026
More
In full
Sheldon G. Adelson 2007 Remainder Trust and 2007 Friends and Family Trust distributed 87,718,919 and 87,718,918 LVS shares (no consideration) to four new family trusts; group stake unchanged at 386.7M shares
Date
2026-06-16
source ↗
ESBT S-II Trust transferred 43,859,460 LVS shares to ESBT S Trust for no consideration (Schedule 13D/A Amendment No. 16)Aug 2026
source ↗
Miriam Adelson Trust exercised options on 77,991 LVS shares at $40.87 and sold them at ~$67.56; co-trustee Irwin…Dec 2025
More
In full
Miriam Adelson Trust exercised options on 77,991 LVS shares at $40.87 and sold them at ~$67.56; co-trustee Irwin Chafetz sold 30,000 shares at ~$69.76 on 2025-12-01
Date
2025-12-16
source ↗
Mavericks reached preliminary agreement to acquire the ~104-acre former Valley View Mall site in North Dallas for a…Jun 2026
More
In full
Mavericks reached preliminary agreement to acquire the ~104-acre former Valley View Mall site in North Dallas for a new arena/entertainment district (target opening 2031, when American Airlines Center lease ends)
Date
2026-06-01
source ↗

Real estate

Dallas Design District, Dallas, TXMavericks practice-facility land (more… · $22.4M · Jan 2024
More
Type
Mavericks practice-facility land (more than a dozen acres), acquired alongside the team deal; county tax value $22.4M
Price
22400000
Date
2024-01
Via
Adelson and Dumont families (Mavericks deal)
source ↗
Irving, TX~259-acre development site owned by…
More
Type
~259-acre development site owned by Las Vegas Sands (considered alternative Mavericks arena/resort site)
Via
Las Vegas Sands
source ↗

Trophies

Dallas Mavericks (NBA) majority ownership
source ↗
Las Vegas Review-Journal and Israel Hayom newspapers
source ↗

Legal & regulatory

Texas casino legalization push stalled; Mavericks CEO Rick Welts said (May 28, 2026) the new arena plans will have 'no…
More
In full
Texas casino legalization push stalled; Mavericks CEO Rick Welts said (May 28, 2026) the new arena plans will have 'no casino component'
source ↗
Las Vegas Sands withdrew its ~$4B Nassau Coliseum bid for a downstate New York casino license (April 2025), citing…
More
In full
Las Vegas Sands withdrew its ~$4B Nassau Coliseum bid for a downstate New York casino license (April 2025), citing possible online-gambling legalization
source ↗

Giving

Adelson Family Foundation (Dr. Miriam Adelson, trustee; 2024 revenue ~$88M)EIN 04-7024330
source ↗
Sheldon G. Adelson Research Clinic (Las Vegas; opioid use disorder treatment), co-founded
source ↗

Prices via Finnhub · as of Nov 11, 2026 12:22 PM ET. For information only.

What to watch

Las Vegas Sands Q3 2026 earnings (projected)Oct 21, 2026
source ↗
Further Schedule 13D/A filings on Adelson family trust restructuring / LVS share sales
source ↗
Dallas city approvals/zoning for Mavericks Valley View arena district and closing of site purchase
source ↗
Sands Macao and Marina Bay Sands (Singapore) performance and passive stake creep from LVS buybacks
source ↗