Elaine Wynn Biography
Elaine Wynn is a multi-billionaire businesswoman, philanthropist, and art collector from the United States. She and her ex-husband, Steve Wynn, co-founded Mirage Resorts and Wynn Resorts. She has advocated for education, the performing arts, and the visual arts.
How old is Elaine Wynn? – Age
She is 80 years old as of 28 April 2022. She was born in 1942 in New York, New York, United States. Her real name is Elaine Farrell Wynn.
Elaine Wynn Family – Education
Wynn was born into a Jewish middle-class family. She earned a bachelor of arts degree in political science from George Washington University in 1964.
Elaine Wynn Husband
In 1963, Wynn married businessman Steve Wynn. They divorced in 1986, then remarried in 1991 before divorcing again in 2010. Wynn lives in the couple’s mansion on the grounds of Southern Highlands Golf Club.
Elaine Wynn Net Worth
She has an estimated net worth of $1.8 billion.
Elaine Wynn Foundation
Wynn is a member of the Elaine P. Wynn & Family Foundation’s board of trustees. She was the chair of the UNLV Foundation, the University of Nevada, Las Vegas’s fundraising organization. She was also a member of the Consortium for Policy Research in Education’s executive board.
She is a member of the national board of directors of Communities In Schools, a non-profit organization that helps financially disadvantaged students in schools. In 2011, she was appointed to Nevada’s Blue Ribbon Education Reform Task Force, and in 2013 and 2015, she served on the State Board of Education. President Barack Obama appointed her to the board of trustees of the Kennedy Center for the Performing Arts in 2011.
How many shares does Elaine Wynn own?
When the couple divorced in 2010, Elaine received eleven million shares of Wynn Resorts, Limited. Their divorce was actually their SECOND. Her 11 million shares represented approximately 10% of the company. Steve kept an additional 11 million shares. Elaine agreed to never sell her shares as part of the settlement, so Steve wouldn’t have to worry about a competitor acquiring such a large stake. Elaine would live off the company’s annual 3% dividend, which usually amounted to $60 million per year.
According to rumors, Elaine asked Steve for permission to sell a large portion of her stock in order to make a bid for the Los Angeles Clippers, who were up for sale following Donald Sterling’s controversies. According to reports, Steve turned down her request. Elaine was so outraged that she decided to sue Wynn Resorts, claiming that the company had spent decades covering up Steve’s sexual harassment allegations. She was eventually successful, and Wynn was forced to sell his entire stake in his own company. Elaine is now the company’s largest individual shareholder. She still holds that position today.
Elaine Wynn Business
In 1976, Wynn co-founded the Mirage Resorts with her ex-husband. In addition, they co-founded Wynn Resorts in 2000. She was a member of its board of directors. She and her ex-husband were instrumental in the revitalization and expansion of the Las Vegas Strip. She was nominated to the board in 2015, but she was not confirmed.
Wynn is the company’s largest shareholder, with a 9% stake valued at nearly $2 billion in May 2018.Following revelations of Steve Wynn’s reported sexual harassment of multiple Wynn employees, as well as payments to cover up those allegations that were kept secret from the board of directors, he sold his 12% stake in the company in 2018 and agreed to return to voting rights to Elaine Wynn (which she had signed away during their 2010 divorce agreement).
Wynn successfully led a shareholder proxy campaign in June 2018 to remove John Hagenbuch from the board of directors due to a conflict of interest created by his ties to the company’s former CEO.