Steve Wynn
Stephen Alan Wynn (né Weinberg; born January 27, 1942) is an American real estate developer and art collector. He was known for his involvement in the luxury casino and hotel industry, prior to being forced to step down.[3][4] Early in his career he oversaw the construction and operation of several notable Las Vegas and Atlantic City hotels, including the Golden Nugget, the Golden Nugget Atlantic City, The Mirage, Treasure Island, the Bellagio, and Beau Rivage in Mississippi, and he played a pivotal role in the resurgence and expansion of the Las Vegas Strip in the 1990s. In 2000, Wynn sold his company, Mirage Resorts, to MGM Grand Inc., resulting in the formation of MGM Mirage (now MGM Resorts International). Wynn later took his company Wynn Resorts public in an initial public offering and was Wynn Resorts' CEO and Chairman of the Board until February 6, 2018, when he announced his resignation. He is a prominent donor to the Republican Party and was the finance chair of the Republican National Committee from January 2017 to January 2018, when he resigned amid sexual misconduct allegations.[5][6]
For the American singer/songwriter, see Steve Wynn (musician).
Steve Wynn
Former CEO of Mirage Resorts (1973–2000)
Former CEO of Wynn Resorts (2002–2018)
Former Republican National Committee finance chairman (2017–2018)
1967–2018
Republican (1995–present)
2
Through Wynn Resorts, he has overseen the construction and development of several luxury resorts, opening Wynn Las Vegas in 2005, Wynn Macau in 2006, Encore Las Vegas in 2008, Encore at Wynn Macau in 2010 and Wynn Palace in Macau in 2016, and Wynn Everett near Boston which opened in June 2019 under the name Encore Boston Harbor. In 2006, Wynn was inducted into the American Gaming Association Hall of Fame.[7] As of September 2015, Wynn's net worth was estimated by Forbes at $2.4 billion, making him the 279th wealthiest American.[8] Steve Wynn collects fine art, including pieces by artists such as Picasso and Claude Monet.[9]
On February 6, 2018, Wynn stepped down as CEO of Wynn Resorts amid accusations of sexual misconduct including harassment, assault, and coercion. Wynn has denied the allegations.[10][4][11]
Early life and education[edit]
Steve Wynn was born Stephen Alan Weinberg in New Haven, Connecticut, on January 27, 1942. His father, Michael, owned a chain of bingo parlors in the eastern United States. His mother Zelma (née Kutner), was from Maine.[12] Wynn’s father changed the family's last name in 1946 from "Weinberg" to "Wynn" when Steve was 4 years old "to avoid anti-Jewish discrimination".[3] Wynn was raised in Utica, New York, and graduated from The Manlius School, a private boys' school east of Syracuse, New York, in 1959.[13]
After high school, Wynn studied English literature at the University of Pennsylvania, where he was a member of the Sigma Alpha Mu fraternity.[13] Wynn graduated in 1963 with a Bachelor of Arts. Shortly before graduation, his father died during heart surgery, leaving $350,000 in gambling debts. Wynn, who had been accepted into Yale Law School, relinquished his admission and instead took over his family's bingo parlor in Waysons Corner, Maryland.[13]
Political activities[edit]
In the past, Wynn has financially supported both the Democratic[44] and the Republican Party, for example contributing $200,000 to the Republican Governors Association in 2013.[44] In 2011 he spoke in support of Nevada Senator Harry Reid.[45] Though he supported Barack Obama in the 2008 election, in 2011 he expressed disappointment with Obama's policies relating to economic issues.[46]
In December 2010, Prince Albert II of Monaco bestowed Monegasque citizenship to Wynn, an unusual act since Wynn did not meet the prerequisites. According to the Las Vegas Sun, Wynn was given citizenship when he agreed to be an outside director in Monaco QD International Hotels and Resorts Management, which is a joint venture between the governments of Monaco and Qatar. The organization buys and manages hotels in Europe, the Middle East and North America.[47]
Between 2012 and 2018, Wynn contributed more than $2.5 million to the Republican Governors Association and also donated $411,000 to the National Republican Senatorial Committee, $248,000 to the Republican National Committee, and $100,000 to the National Republican Congressional Committee.[48] In 2016, Wynn donated $833,000 to Republican Party joint fundraising committees.[49] After Donald Trump won the 2016 U.S. presidential election, Wynn was named a vice-chairman of Trump's inauguration committee.[50]
After the January 2017 inauguration of Donald Trump, Wynn was named finance chairman of the Republican National Committee.[49] In October 2017 The Wall Street Journal reported that Wynn, who has financial interests in China, lobbied President Trump on behalf of the Chinese government to return a Chinese dissident, Guo Wengui, to China.[51][52] On January 28, 2018, Wynn resigned from the finance chairman position amid sexual misconduct allegations.[48][53] In May 2021, the Department of Justice ordered Wynn to register as a foreign agent of China,[54] and filed a civil lawsuit.[55] He denied acting as a foreign agent and lobbying on China's behalf. The case was dismissed in October 2022. The court did not determine whether Wynn actually acted as a foreign agent but ruled that he could not be retroactively compelled to register after his alleged relationship with the Chinese government had ended.[56][57]
Together with his spouse, Wynn contributed $1.5 million to Donald Trump's 2020 presidential campaign.[58]
![Portrait of a Man with His Arms Akimbo (1658), Rembrandt.[76]](http://upload.wikimedia.org/wikipedia/commons/thumb/8/88/Rembrandt_Harmensz_van_Rijn_-_Portret_van_een_man_met_de_handen_in_de_zij_1658.jpg/154px-Rembrandt_Harmensz_van_Rijn_-_Portret_van_een_man_met_de_handen_in_de_zij_1658.jpg)
![Tulips (2004), Jeff Koons.[76]](http://upload.wikimedia.org/wikipedia/commons/thumb/e/e3/Bilbao_-_Guggenheim_35.jpg/154px-Bilbao_-_Guggenheim_35.jpg)
Personal life[edit]
Wynn married Elaine Farrell Pascal in 1963. They divorced in 1986, remarried in 1991, and divorced again in 2010.[77] Elaine Wynn was a director of the company's board for 13 years, ending in 2015.[78] They have two daughters, Kevyn and Gillian.[79] Kevyn was kidnapped in 1993[80] and Wynn paid $1.45 million in ransom for her safe return. The kidnappers were apprehended when one attempted to buy a Ferrari in Newport Beach, California, with cash. Kevyn was found unharmed several hours later.[81]
On April 30, 2011, Wynn married Andrea Danenza Hissom in a ceremony at the Wynn Las Vegas.[82] She is the mother of Alex Hissom and art gallerist Nick Hissom,[83][84][85][86][87] great-niece of Ben Novack (developer of the Fontainebleau Miami Beach Hotel),[88] and cousin of Ben Novack Jr.
Wynn suffers from the degenerative eye disease, retinitis pigmentosa, which he was diagnosed with in 1971.[89] In 2010, Wynn switched to a vegan diet after watching the documentary Eating by Mike Anderson.[90][91]
Accolades[edit]
In May 2006, Time magazine included Wynn as one of the World's 100 Most Influential People.[92] Wynn was appointed to the Board of Trustees of the John F. Kennedy Center for the Performing Arts by President George W. Bush on October 30, 2006.[93] In November 2006, Wynn was inducted into the American Gaming Association Hall of Fame. He has also received honorary doctoral degrees from the University of Nevada, Las Vegas; Sierra Nevada College; The Culinary Institute of America; and Johnson & Wales University in Providence, Rhode Island. Forbes magazine named him a "Captain of Capitalism" in 2007. Wynn was named to Institutional Investor's Best CEOs list in the All-America Executive Team Survey from 2008 through 2011.[94]
In March 2011, Barron's named Steve Wynn one of the 30 "World's Best CEOs."[95]
In November 2014, Wynn ranked 17th on Harvard Business Review's list of 100 best-performing CEOs in the world.
He also received an honorary doctorate degree from the University of Pennsylvania in 2006, which was rescinded following Wynn's sexual misconduct allegations in 2018.[96][97][98]
In June 2022, he was recognized by the International Hospitality Institute as one of the 100 Most Powerful People in Global Hospitality.[99]
