What is Steve Wynn's net worth?
Casino mogul built fortune before misconduct allegations went public
Billionaire Steve Wynn made his fortune in the casino industry, opening popular gambling spots like The Mirage and Bellagio.
He was known for reinvigorating the Las Vegas Strip in the 1990s and for developing properties in lucrative overseas markets like Macau. Despite coming under scrutiny for alleged sexual misconduct and largely leaving the public eye, Wynn maintains a sizeable fortune.
"Las Vegas, USA - September 4, 2012: Wynn luxury resort and casino on the Las Vegas Strip as seen from Las Vegas Blvd. during the day."
WYNN RESORTS UNDER PRESSURE TO CHANGE NAME
In 2000, Wynn sold his stake in Mirage Resorts Inc. in a $4.4 billion hostile takeover which reportedly netted him about $500 million.
He and his then-wife, Elaine Wynn, cofounded Wynn Resorts in 2002. Today, the company owns and operates four resorts, including the flagship Wynn Las Vegas. Wynn’s job heading the company paid more than $28 million as of 2016.
Steve Wynn and Elaine Wynn attend an event at Cirpriani Wall Street on September 23, 2008 in New York City. (Photo by MICHAEL PLUNKETT/Patrick McMullan via Getty Images)
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A major political donor, Wynn became the RNC finance chairman after President Trump was elected in 2016.
Wynn Resorts took a major financial hit in early 2018, when a Wall Street Journal article uncovered accusations of sexual misconduct by employees against Wynn. The company’s stock dropped 10 percent after the article published. Wynn denied the allegations but resigned from both the company and his RNC role soon after.
In March 2018, Wynn sold his 11.8 percent stake in Wynn Resorts to a Macau casino operator for $2.1 billion, Reuters reported.
Steve Wynn (REUTERS/Tyrone Siu)
STEVE WYNN SNAPS UP $43M FLORIDA MANSION
Wynn’s net worth is $3.1 billion, according to Forbes.
Wynn’s departure from the company hasn’t ended the problems for either of them. Last spring, Massachusetts gaming regulators — the company owns Encore Boston Harbor there — said an investigation found that the company had concealed the sexual misconduct allegations against Wynn.
In Las Vegas, the Nevada Gaming Control Board has asked for Wynn to be barred from working in the industry there, alleging he’d “repeatedly violated” state gaming laws.