Mark Cuban is selling a majority stake in the Dallas Mavericks to Miriam Adelson and her family at a valuation of $3.5 billion, while the casino magnates announced they are buying $2 billion worth of stock in Las Vegas Sands Corp. trading to finance the investment.
The Adelson family has already drawn up a binding purchase agreement for the team, according to an SEC filing seen by DailyMail.com.
DailyMail.com has reached out to both the Dallas Mavericks and their owner, Mark Cuban, for comment.
In one of the most creative lineups in NBA history, Cuban, whose plans to leave Shark Tank were also announced on Tuesday, retains equity in the team and full control of basketball operations, Shams Charania, of The Athleticsreported.
Miriam Adelson, a physician and billionaire, was listed as the 44th richest person, fifth richest woman and richest Israeli in the world, according to the Bloomberg Billionaires Index, with an estimated net worth of $29.6 billion in 2021. Most of her wealth comes from its majority-owned ships in Las Vegas Sands.
Miriam Adelson – the fifth richest woman in the world – is going to buy the Dallas Mavericks
Miriam Adelson is the widow of the late billionaire Sheldon, CEO of Las Vegas Sands Corp.
Sheldon, L, and Miriam, R, Adelson are well-documented and ardent supporters of Donald Trump
She obtained U.S. citizenship after marrying Sheldon in 1991 and has been the family’s leading voice since her late husband’s death in 2021.
The couple previously donated more than $218 million to Republican and conservative causes, according to the Center for Responsive Politics.
The head of Las Vegas Sands is her son-in-law, Patrick Dumont. Sands owns several properties in Macau, including The Sands, The Londoner, The Venetian, The Plaza and The Parisian.
In 2020, it was the third largest casino company in the world by revenue.
Sands Corp. made headlines last year when it sold its flagship resort in Venice to Apollo Global Management, but still has a lot of influence in Las Vegas.
The company owns the Las Vegas Review-Journal newspaper and is still headquartered in Las Vegas.
According to BloombergMiriam Adelson owns 433 million shares of Sands Corp., or ‘more than 56 percent of the total outstanding’.
Its stock offering represents about 11 percent of those assets.
Miriam Adelson received the Presidential Medal of Freedom from Donald Trump in November 2018
On Tuesday, Sands shares fell 4.34 percent to $45.59 in extended trading, after initially falling 1.85 percent to $47.66.
Miriam Adelson’s net worth is approximately $33 billion, according to Bloomberg’s Billionaires Index. In 2021, she was named the 44th richest person, fifth richest woman and Israeli in the world, with an estimated net worth of $29.6 billion.
In the past, the Adelsons donated to Donald Trump’s 2016 presidential campaign, his presidential inauguration, his defense fund against the Mueller investigation into Russian interference and the 2020 campaign.
Miriam Adelson is the current publisher of the conservative newspaper Israel Hayom and is also a voting member of the board of trustees of the University of Southern California.
She received the Presidential Medal of Freedom from Donald Trump in 2018 and was recently seen with former president and GOP candidate Nikki Haley in Las Vegas.