Tuesday, December 28, 2010

Steve Wynn Becomes Citizen of Monaco

It's not completely clear why Wynn sought a citizenship from Monaco, but in the past Wynn has warned about the direction in which the United States is heading. Is this a first step in Wynn adopting a multi-flag lifestyle? A few years back I saw him at the Milken Institute Global Conference and at that time he was studying Mandarin.

Here's WSJ with the details:

Wynn Resorts Ltd. confirmed that its chairman, Steve Wynn, has been granted citizenship in Monaco. He will retain his U.S. citizenship, a company spokeswoman said.

The Monegasque citizenship, conferred by the principality's ruler, Prince Albert II, came as a result of Mr. Wynn's agreeing to serve as an outside director for a joint venture between the governments of Monaco and Qatar, the spokeswoman said in a written statement. "His Monegasque citizenship was pursued as a result of this appointment," the statement added.

The statement didn't say what the joint venture would be doing or why Mr. Wynn needed Monegasque citizenship to sit on the board.

The Monaco government's website indicates that a person must give up citizenship in other countries to obtain Monegasque citizenship. When asked about this, the Wynn Resorts spokeswoman reiterated that Mr. Wynn remains a U.S. citizen and taxpayer. She didn't have any immediate comment to other follow-up questions about the matter.

1 comment:

  1. The trend of leaving the good ol' U S of A continues and only looks to gain popularity. It seems economics, indeed, does touch everything.