Stephen Alan Wynn is an American art collector and a real estate businessman. He has been known for his involvement in American luxury casino and the hotel industry. During the early days of his career, he oversaw construction and operation of very major Atlantic and Las Vegas hotels, and this does include Golden Nugget Atlantic City and the Treasure Island. In the year 2000, he sold his company by the name Mirage Resorts, to the MGM Grand Inc. Keep on reading to learn more on the net worth of Steve Wynn in 2020.
Early Life & Biography
Steve Wynn was conceived in the year 1942 on January 27th to Michael. When he opened his eyes, despite being unaware, he got to see the landscape of the New Haven, Connecticut. Initially, Wynn was not his name, but he chose it later. He chose this name to shield himself from the anti-Jewish discrimination which was in existence. Despite him being born in New Haven, he grew up in the Utica, New York.
When he was old enough to join the school, he enrolled in The Manlius School. It is a private school for the boys based in Syracuse, in New York. He graduated in the year 1959 and later after completing his high school education, proceeded on to join University of Pennsylvania. On completion, Wynn graduated with a degree in English Literature.
In the year 1963, that was the time when he got married to Elaine Farrell, and the marriage ended in 1986. Five years down the line, he had doubts about the marriage, and this is what caused their divorce. However, even before completion, they gave it a thought, and they gave their marriage a second chance.
They remarried, but in the year 2010, they underwent the divorce process again. Since the year 2002, Elaine served as director of the board of family’s company, but his tenure ended in 2002. The couple had two daughters, Gillian and Kevyn.
Career, Awards & Nominations
Wynn started working at the Yale Law School. He had no option but to abandon position after the death of his father. After the death of his father, that was when he started to manage the family business, and it was a line of the bingo parlours. The company was located in the Waysons corner, located in Maryland. He had efficient business skills that were questionable given the fact that within the first year, he had managed to expand the business fully.
He was a stakeholder in Frontier Hotel and Casino, and this was in the year 1967. In the year 1971, he got a large chunk of interest in Las Vegas, Golden Nugget. He started a similar in the Atlantic City. This company would later acquire a casino in the Laughlin, Nevada and it was known as Nevada club. Later on, it was renamed Golden Nugget Laughlin and was followed by the establishment of The Mirage that was opened in Las Vegas Strip in 1989.
Net Worth & Earnings
The net worth of Steve Wynn is estimated to be over $3.2 billion. The primary source of the wealth is from the many businesses that were started by his later father. Over the many years, he has transformed the business to become such a big empire. He has ownership of more than five luxurious hotels. Also, he collects arts and also resells them later.
His father’s death is one of the most tragic things that has ever happened in your life. Despite it being a very bad experience, it led to his rise in becoming among the best businessmen of our time. With the skills, he easily succeeded in taking over from his father.