Shortly before Wynn's graduation in March 1963, his father died during heart surgery, leaving $350,000 in gambling debts. Steve Wynn received his Bachelor of Arts in English literature from the University of Pennsylvania, where he was a member of the Sigma Alpha Mu fraternity. Wynn was raised in Utica, New York, and graduated from The Manlius School, a private boys' school east of Syracuse, New York, in 1959. Wynn’s father changed the family's last name in 1946 from 'Weinberg' to 'Wynn' when Steve was 4 years old 'to avoid anti-Jewish discrimination'. His mother Zelma (née Kutner), was from Maine. His father, Michael, owned a chain of bingo parlors in the eastern United States. Steve Wynn was born Stephen Alan Weinberg in New Haven, Connecticut, on January 27, 1942. On February 6, 2018, Wynn stepped down as CEO of Wynn Resorts amid accusations of sexual misconduct including harassment, assault, and coercion. Steve Wynn collects fine art, including pieces by artists such as Picasso and Claude Monet.

As of September 2015, Wynn's net worth was estimated by Forbes at $2.4 billion, making him the 279th wealthiest American. In 2006, Wynn was inducted into the American Gaming Association Hall of Fame. Through Wynn Resorts, he has overseen the construction and development of several luxury resorts, opening Wynn Las Vegas in 2005, Wynn Macau in 2006, Encore Las Vegas in 2008, Encore at Wynn Macau in 2010 and Wynn Palace in Macau in 2016, and Wynn Everett near Boston which opened in June 2019 under the name Encore Boston Harbor. He is a prominent donor to the Republican Party, and was the finance chair of the Republican National Committee from January 2017 to January 2018, when he resigned amid sexual misconduct allegations. Wynn later took his company Wynn Resorts public in an initial public offering and was Wynn Resorts' CEO and Chairman of the Board until February 6, 2018, when he announced his resignation.

In 2000, Wynn sold his company, Mirage Resorts, to MGM Grand Inc., resulting in the formation of MGM Mirage (now MGM Resorts International). Early in his career he oversaw the construction and operation of several notable Las Vegas and Atlantic City hotels, including the Golden Nugget, the Golden Nugget Atlantic City, The Mirage, Treasure Island, the Bellagio, and Beau Rivage in Mississippi, and he played a pivotal role in the resurgence and expansion of the Las Vegas Strip in the 1990s. He was known for his involvement in the luxury casino and hotel industry, prior to being forced to step down. Stephen Alan Wynn ( né Weinberg born January 27, 1942) is an American real estate developer and art collector.

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