Patrick Dumont
Patrick Dumont | |
|---|---|
| Born | 1975 or 1974 |
| Nationality | American |
| Occupation | Businessman |
| Spouse |
Sivan Ochshorn (m. 2009) |
Patrick Dumont (born 1974 or 1975) is an American businessman. After his marriage to Sivan Ochshorn, daughter of Miriam Adelson, in 2009, Dumont entered the Las Vegas Sands Corp, rising to Chief Financial Officer in 2016 and President and Chief Operating Officer in 2021.
After the Adelson-Dumont family's purchase of the majority controlling interest in the NBA team Dallas Mavericks in 2023, Dumont became the team's governor.
Early life and career
[edit]Dumont grew up in Brooklyn, New York, where he grew up in a family passionate about basketball. He earned a bachelor's degree in mechanical engineering from Johns Hopkins University and an MBA from Columbia Business School.[1]
Business career
[edit]Dumont's early career was in investment banking. He worked at Miller Buckfire and Bear Stearns.[1]
After his marriage to Ochshorn, Dumont joined the Adelsons' company Las Vegas Sands Corp, which operates resorts in Singapore and Macau, in June 2010. He served in a variety of strategy, operating, and finance positions, rising to senior vice president before being named the company's Chief Financial Officer (CFO) in March 2016.[1][2]
In 2015, Dumont brokered the deal for Sheldon Adelson to purchase the newspaper Las Vegas Review-Journal for $140 million in his role overseeing the Adelson family's investments.[1][3][2]
After the death of Sheldon Adelson on January 11, 2021, Dumont was elevated to president and Chief Operating Officer (COO) of Las Vegas Sands Corp, positioning him as the heir to the family's gambling empire.[4]
Dallas Mavericks
[edit]The NBA Board of Governors unanimously approved the sale of the controlling ownership interest of NBA team the Dallas Mavericks to Miriam Adelson and Sivan and Patrick Dumont on December 27, 2023. Dumont became the Mavericks' governor and representative to the NBA Board of Governors.[5] The Adelson-Dumont families' would own 69% of the team and previous controlling owner Mark Cuban's share was reduced to 27%.[6] Dumont's low profile was contrasted with that of the big persona and pop culture visibility of previous majority owner Cuban.[6]
According to the Dallas Morning News, the Adelson-Dumont family's purchase of the Dallas Mavericks was the realization of a decadelong passion to buy an NBA franchise.[6] Long-term, Dumont expressed to the newspaper that there was the potential to develop destination resorts in Texas in the future. Dumont said there might be an opportunity to build an arena for the Mavericks as part of a large-scale entertainment complex in a destination resort.[1]
Personal life
[edit]Dumont married Sivan Ochshorn, Miriam Adelson's second daughter from her first marriage, in 2009.[1]
See also
[edit]References
[edit]- ^ a b c d e f "What to know about Mavericks governor, majority shareholder Patrick Dumont". Dallas Morning News. 2024-02-12. Retrieved 23 February 2024.
- ^ a b Somaiya, Ravi (2015-12-16). "Sheldon Adelson Said to Be Buyer of Las Vegas Review-Journal". New York Times. Archived from the original on 2015-12-18. Retrieved 23 February 2024.
- ^ Stelter, Brian (2015-12-17). "How the Las Vegas Review-Journal broke news about its own sale". CNN. Retrieved 23 February 2024.
- ^ Sayre, Katherine (2021-01-26). "Sheldon Adelson's Casino Empire Installs New Leadership". Wall Street Journal. Retrieved 23 February 2024.
- ^ Price, Dwain (2023-12-28). "NBA Board of Governors approve sale of Mavericks". Dallas Mavericks.
- ^ a b c Townsend, Brad (2024-02-10). "Patrick Dumont, Mavericks majority shareholder, gives his first interview as governor". Dallas Morning News. Retrieved 23 February 2024.