Due diligence

Solomon Lew’s surprise role model? Vegas mogul Sheldon Adelson

Like the colourful US businessman, the billionaire rag trader won’t stop building his empire. And Myer, with a new chief, is finally playing ball.

Jemima WhyteSenior reporter

Updated Jul 1, 2024 – 3.18pm, first published at Jun 30, 2024 – 3.54pm

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Solomon Lew likes to tell people that he will be like Sheldon Adelson.

He means that, like the colourful founder of Las Vegas Sands, he will keep building businesses until he dies. To others who ask about his age, he points out that he’s got more than 40 years until he reaches 120, a reference to a Jewish birthday saying.

correction —

The extra sales from Premier brands estimated by Citi was incorrectly reported as $157 million. It is $95 million.

Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years.