Elaine Wynn Net Worth & Biography

Born on April 28, 1942 in New York City, New York, US, Elaine Wynn is an American billionaire philanthropist and art collector who has amassed a huge amount of money from Wynn Resorts. She has married and divorced casino magnate Steve Wynn twice but still maintains a place on the Wynn Resorts board for almost thirty years now. The couple’s divorce settlement in 2010 left Ms. Wynn with $11 million worth of shares, in an agreement stipulating that she would need the signatures of Steve Wynn and his business partner Kazuo Okada before she can actually sell her shares. In addition to her roles at Wynn Resorts, Elaine also sits on the boards of Communities in Schools, the Kennedy Center, and the Basketball Hall of Fame. She co-founded Wynn Resorts and Mirage Resorts with her former husband and has supported education causes, visual arts, and performing arts. More details follow below.

Early Life

Elaine Farrell Wynn was born on April 28, 1942 in New York, the USA to a middle-class Jewish family.

She graduated from George Washington University in 1964, earning herself a Bachelor of Arts degree in Political Science in the process.

Professional Life

In 1976, Elaine Wynn co-founded the Mirage Resorts with her husband, Steve Wynn (now divorced). In 2000, they also co-founded Wynn Resorts and served on its board of directors.

Elaine played an important role in the expansion of the Las Vegas Strip with Mr. Steve Wynn. She is the largest shareholder at Wynn Resorts with a 9 percent stake valued at nearly $2 billion in 2018.

In 2018, after revelations of Mr. Steve Wynn’s reported sexual harassment of multiple employees, and financial settlements to cover up those allegations that were concealed from the board of directors, he sold his 12 percent share of the company and returned voting rights to Elaine (which she had signed away during their divorce agreement in 2010).

Additionally, Mrs. Wynn serves on the Elaine P. Wynn & Family Foundation’s board of trustees. She served as the chair of the University of Nevada, Las Vegas Foundation, a fundraising organization for the University of Nevada in Las Vegas. Likewise, she also served on the board of the Consortium for Policy Research in Education.

Wynn also serves on the Communities In Schools’ national board of directors. It is a non-profit organization which supports financially deprived schoolchildren. In 2011, she was appointed to Nevada’s Blue Ribbon Education Reform Task Force, and in 2013, she was appointed to Nevada’s State Board of Education. President Barack Obama appointed her to the board of trustees of the Kennedy Center for the Performing Arts in 2011, and she currently serves as the co-chairperson of the Los Angeles County Museum of Art.

To include as well, it is important to articulate that Mrs. Wynn is an avid art collector. In 2013, she splashed more than 142 million dollars on acquiring Francis Bacon’s Three Studies of Lucian Freud. She later loaned it to the Portland Art Museum.

Personal Life

Elaine married the American businessman Steve Wynn in 1963. They divorced in 1986 and later remarried in 1991 before divorcing again in 2010. She currently lives in the couple’s luxury mansion inside Southern Highlands Golf Club. Her two children are named Gillian and Kevyn.

In 2019, Mrs. Wynn made a $5 million donation to the Smith Center for the Performing Arts in Las Vegas. Her gift was for the purpose of building an art education studio at the venue.

Elaine Wynn Net Worth

Elaine Farrell Pascal Wynn has a net worth of $2 billion dollars. She is a successful businesswoman, best known for co-founding Mirage Resorts and Wynn Resorts with her former husband, Steve Wynn.

Elaine’s wealth has been made from the real estate development firm Wynn Resorts, which she once led as a director. The successful real estate powerhouse is credited for the construction or rehabilitation of such Las Vegas hotspots as Encore, Bellagio, Wynn, the Golden Nugget, The Mirage, and Treasure Island. In addition to managing her assets, which includes the shares of Wynn Resorts Ltd that she received from her former husband when the couple divorced in 2010, Mrs. Elaine Wynn also sits on the board of the Basketball Hall of Fame and serves on the Elaine P. Wynn & Family Foundation’s board of trustees. She served as the chair of the University of Nevada, Las Vegas Foundation, the board of the Consortium for Policy Research in Education, and many other organizations.

Her current financial situation makes Elaine Wynn one of the wealthiest people in the state of Nevada. She is also one of the richest women in the world today. It is estimated that she would live off the annual 3% dividend of the Wynn company, which typically results in a $60 million annual payment.