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Saturday, December 09, 2006

Billionaire plans donation to Jews

Associates of Sheldon Adelson, owner of the Las Vegas Sands Corp., have said he plans to donate a large sum of money to the Jewish people.

Adelson, who is the world's wealthiest Jew and the world's third wealthiest man, is expected to announce in the coming days that the largest donation ever given collectively to the Jewish people will be made through his Adelson Fund, YNet News reported Friday.

YNet News said half of the money will go to providing medical needs for Jewish patients around the world and the other half will be put towards preserving Jewish heritage.

Adelson is estimated by Forbes magazine to hold a fortune worth $20.5 billion. He is one of the largest donors to Chabad and the Jewish Federation in Las Vegas.

The billionaire has close ties to Israel; he is friends with Israeli Opposition Chairman Benjamin Netanyahu and his wife operates the Clinic for Drug Abuse at the Sourasky Medical Center in Tel Aviv.

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