Steve Wynn donated 4,000 gift cards valued at $500 each to needy families in southern Nevada. Six months ago he anonymously donation of 2,000 gift cards valued at $500 each to the United Way. He matched that donation with a another million in gift cards last Saturday, and revealed his identity.
2,000 of the gift cards were given out to needy families around Christmas last year. He made the same gift again last Saturday to 2,000 families through the United Way of Southern Nevada. The total donation was $2 million.
Most of the families that received the gift earned less than $16,000 annually. Las Vegas unemployment is among the highest in the country. In April it was at 11.6%. One in every 285 homes is in foreclosure and they were one of the hardest hit when the construction industry tanked.
$2 million is the United Way’s largest donation to date.
Steve Wynn is the owner of Wynn Resorts in Las Vegas and has an estimated net worth of $2.5 billion according to Forbes. The donation amounts to .08% of Wynn’s worth. If you are an American, and you are aged 25 – 34, like me, your net worth averages to $8,252, so an equivalent donation would be $6.60. For the middle aged (35-44), their net worth is around $51,575, which would make for an annual donation of $41.26 to the United Way.
So really, all Steve Wynn did was throw his chump change to Las Vegas’ poor and destitute. A sweet gesture to be sure, but what Las Vegas residents really need are their homes and livelihoods back.