Billionaire Republican donor, casino tycoon Sheldon Adelson dies at 87

"Our founder and visionary leader, Sheldon G. Adelson, passed away last night at the age of 87 from complications related to treatment for non-Hodgkin's lymphoma", the statement said.

In March 2019, Adelson announced he was receiving treatment for non-Hodgkin's lymphoma. He also funded conservative groups such as the Republican Jewish Coalition, one of the most active pro-Israel Jewish groups in Washington, DC.

The family was among President Donald Trump's largest donors - having given $75 million to a super PAC formed in opposition to then-Democratic nominee Joe Biden - and has donated more than a quarter of a billion dollars to GOP candidates, according to The Associated Press.

The statement continued: "Born to immigrant parents and raised in a poor section of Boston, Mr. Adelson went from a teenager selling newspapers on a street corner to becoming one of the world's most successful entrepreneurs".

He purchased the Sands Hotel and Casino in the 1980s, opening The Venetian on the same lot in 1999 after gaining the inspiration for the property whilst on honeymoon.

Forbes ranked him No. 15 in the U.S. in 2018, with his business empire hitting an estimated $35.5 billion.

Being the chairman and CEO of the Las Vegas Sands Corporation, Adelson brought singing gondoliers to the Las Vegas Strip as well as effectively foresaw and exploited the notion that Asia would be an even bigger market than Sin City.

"If you do things differently, success will follow you like a shadow", he said in 2014, addressing the gambling industry in Las Vegas.

Las Vegas Sands shares were down 1.4 percent in afternoon trading on Friday, following news of Adelson's medical leave.