Accusing others of “cut-throut, ruthless and despicable” business practices could burn a deep hole in your pocket. Sheldon Adelson, a prolific American casino billionaire has just won a fat juicy bone in London's High Court. The whole deal blew off when a popular tabloid newspaper wrote some rather miscivous stuff about the wealthy business man.
After these incidents, Adelson's lawyers have announced the settlement as being one of the most expensive Britain libel action in the history. The unfounded saying are going to cost the famous tabloid owners about $8 million in damages. Spicy words, right?
The whole story was roughly critised by Andelson's lawyer Gideon Benaim as being not only false, but completely distressing and embarrassing. The tabloid also wrote about a sort of partnership between Adelson and Malcolm Glazer to take control over Manchester United. It’s true, two years ago, Glazer actually bought the bootball club. But, this had nothing to do with the American billionaire.
Adelson's lawyer told the court that: “These allegations were all unjustified. As such, they represent a grave slur on Mr. Adelson's personal integrity and business reputation. Adelson had never met Glazer.”
As if all these specualtions weren't enough, the newspaper continued its vicious shark attaks describing Adelson as “the ruthless casino baron who rules las Vegas”.
During his Court statement, Benaim responded that the articles were in fact suggesting that Andelson and his company, Las Vegas Sands, which happens to be the world's biggest casino operator”, were somehow engaged in “ despicable business practices”, as well as “ habitually corruptly bought political favour.” Auch!
Unlike Gates or Buffet, who are legends in their respective industries, Adelson only recently became the richest man to run casinos. Some say no one in history has gotten as rich, as fast, as Sheldon Adelson. A while ago, when his company Las Vegas Sands went public, his net worth just skyrocketed by $17.5 billion. He was said to be making almost $1 million an hour, 24 hours a day!
Aside from back stabbing the billionaire's professional status, the tabloid has also picked on one of his friends, saying Andelson has used him to ask his wife for a divorce, just a night before she had to undertake a cancer operation. That's just sick!
Overall, after justice was done, the publisher of the newspaper appologized to Adelson and his company and agreed to pay him substantial undisclosed damages. Yeah, sure, as if money could actually repair his image. Well, it actually might!
Forbes magazine has recently placed Adelson on the 12th place in the top of richest men! And know, thanks to bad journalism and unprofessional behavior, he's richer with 8 million bucks!
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