All you need to know about Elaine Wynn
Elaine Wynn is a $2 billion-dollar-worth American businesswoman. Elaine Wynn is the ex-wife of Steve Wynn, the creator of Mirage Resorts and Wynn Resorts. She helped to expand the Las Vegas Strip with her ex-husband. Wynn is also heavily involved in charity activities and an enthusiastic art collector.
Who is Elaine Wynn?
Elaine Wynn was born on April 28, 1942, in New York City as Elaine Pascal to a Jewish family. She received her higher education at George Washington University, where she earned a bachelor’s degree in political science in 1964.
How old is Elaine Wynn?
She is currently 81 years old.
What is Elaine Wynn’s net worth?
She is estimated to be worth $2 Billion.
What is Elaine Wynn’s career?
Steve Wynn, a real estate entrepreneur, bought a majority stake in the Golden Nugget Las Vegas hotel and casino in 1973. Following the completion of the Mirage on the Las Vegas Strip in late 1989, he founded Golden Nugget Companies, which was later rebranded Mirage Resorts. Steve went on to create the Treasure Island Hotel and Casino and the Bellagio on the Strip. Throughout the 1990s, Elaine Wynn and her husband were instrumental in the rebirth and growth of the Las Vegas Strip. MGM Grand purchased Mirage Resorts in 2000, forming MGM Mirage.
Wynn Resorts, a developer and operator of luxury hotels and casinos situated in Paradise, Nevada, was created in 2002 by Wynn’s husband. The Wynn Las Vegas opened in 2005, followed by the Encore Las Vegas in 2008. It has properties in Massachusetts and Macau as well. Following repeated sexual assault charges, Steve Wynn resigned as CEO of the firm in early 2018. He later sold his 12% stake in the company and returned voting rights to Elaine, who had signed them away in their divorce deal in 2010. Elaine Wynn is the company’s largest stakeholder, with a 9% stake worth around $2 billion.
Wynn is heavily interested in charitable endeavors. She is a trustee of her Elaine P. Wynn & Family Foundation and previously chaired the UNLV Foundation, a fundraising organization for the University of Nevada, Las Vegas. Wynn also sits on the national board of directors of Communities in Schools, a non-profit that helps at-risk students. She was appointed to Nevada’s Blue Ribbon Education Reform Task Force in 2011, and she served on the State Board of Education in 2013 and 2015.
Wynn also supports the arts, having been named by President Obama to the board of trustees of the Kennedy Center for the Performing Arts in 2011. She is also the co-chair of the Los Angeles County Museum of Art. Wynn is an ardent art collector who has works by a variety of well-known painters. In 2013, she paid roughly $142 million for Francis Bacon’s “Three Studies of Lucian Freud” and loaned it to the Portland Art Museum in Oregon.
When the couple split in 2010, Elaine acquired eleven million shares of Wynn Resorts, Limited. Their divorce was actually their SECOND. Her 11 million shares represented almost 10% of the corporation. Steve maintained an additional 11 million shares. Elaine agreed to never sell her shares as part of the deal, so Steve wouldn’t have to worry about a competitor acquiring such a significant position. Elaine would live off the company’s yearly 3% dividend, which usually amounted to $60 million each year.
According to rumors, Elaine asked Steve for permission to sell a big portion of her stock in order to make a bid for the Los Angeles Clippers, who were up for sale following Donald Sterling’s troubles. According to reports, Steve turned down her request. Elaine was so outraged that she decided to sue Wynn Resorts, claiming that the business had spent decades covering up Steve’s sexual harassment complaints. She was eventually successful, and Wynn was compelled to sell his entire investment in his own company. Elaine is now the company’s greatest individual shareholder. She still holds that role now.
