Opinion: Billionaire Not Sitting on His Fortune

The billionaire philanthropist Sheldon “Hub” Adelson is matching his money with his ambition, and is taking the expression “you can’t take it with you” seriously, writes Boston Globe columnist Steven Syre.

Mr. Adelson, the world’s sixth-richest person, according to Forbes magazine, differs from the top two on the list, who are engaging in hands-on philanthropy (Bill Gates) and letting someone else give his money away (Warren Buffett), Mr. Syre writes. Mr. Adelson is giving his money to two charities with big mandates—one focusing on medical research and the other on Jewish philanthropy.

Mr. Adelson hopes The Sheldon and Miriam Adelson Medical Research Foundation, in Boston, will generate a legacy for him of curing disease. His new Adelson Family Charitable Foundation, which focuses on Jewish philanthropy, anticipates spending $200-million annually.

Mr. Adelson ranked No. 56 on The Chronicle of Philanthropy’s list of the top donors of 2006, in part for his $25-million gift to Yad Vashem, the Holocaust memorial in Israel.