An unarguably successful businessman his personal fortune now extends beyond $3.5 billion but that hasn’t meant that everything has been a bed of roses for Steve Wynn and as he is beset by yet another sex scandal we take a look some of the parts of his life and career he’d probably rather forget and wonder to what degree the captain of the ship can take credit for the weather. Is he a business genius or a klutz who struck it lucky like a surprise winner at BetVictor? Well let’s see.
- Why did the mogul Steve Wynn pay a manicurist $7.5 million?
- How did he lose out on $54 million and then make a profit anyway?
- Has he ever broken US gambling laws?
- Can the Republican Party recover from another resignation?
Now it might seem unfair to compare Steve Wynn with a Muppet, especially to the Muppets and the late great Jim Henson, however there is something about the man that does put you in mind of the bumbling puppets rattling around their insane theatre. Perhaps it’s the leathery over-tanned skin that often takes on the sheen of a over-stretched burns victim making him look like a raisin that’s been soaked too long. However beyond his appearance he’s done some pretty Muppet-esque things too.
Perhaps the most famous example of Steve Wynn acting like a Muppet instead of a man stems from his love of fine art, his extensive collection containing Vermeer’s A Young Woman Seated At The Virginals, Turner’s Giudecca, La Donna Della Salute And San Giorgio and a number of works by Monet. It was however Le Reve by Picasso that he was due to sell for $139 million that caused him to look as foolish as someone who bet on sports in the US and has already staked the farm on the Philadelphia Eagles.
Steve Wynn The Picasso Canvas Killer
Steven A Cohen (source: wilsonartsandliteraturemuseum.blogspot.com)
The sale should have been straight forward but whilst showing it to some friends Steve Wynn put his own elbow through the priceless canvas and instantly wiped $54 million off the value. Of course the businessman inside him still managed to squeeze $155 million out of the buyer Steven A Cohen a few years later but that doesn’t stop it being one of the all time classic pieces of stupidity, and perhaps belies his instability not just on his feet but of mind, something his defense will doubtless play up around now.
This latest sex scandal in which he is alleged to have molested a massage therapist is another instance of a rich man going low rent and just a little pathetic, the sort of thing only a Muppet would do when they’ve the sort of money that can hire the correct professional for the job required. Naturally he denies this is just the latest in a string of similar instances, but no one in the US gambling news headlines recently are an isolated incident should be trusted, if only because of the manicurist incident of 2005.
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It is alleged that Steve Wynn coerced a manicurist in his employ at the Wynn Las Vegas into having sex with him. Coerced is not a word women ever like associated with sex and indeed it is only the settlement of the case for some $7.5 million that stopped it becoming more serious, with that payout perhaps saying something about his level of guilt. We’re all guilty of many things but few of us have had to cough up quite that much money to make the problem go away. Steve Wynn did and may do again.
The latest sex scandal that has beset Steve Wynn has already cost him his position as Finance Chair of the GOP and with the zeitgeist in the United States heralded by the #MeToo and Time’s Up campaigns that have emanated from Hollywood since the Weinstein Scandal broke swinging away from tolerance for sexual abuse by the rich and powerful it is questionable if there won’t be more to come on this tale of sex, power, money and stupidity. With any luck they’ll jail him and restore the Muppet’s reputation.