A brief breaking mention from Politico:
Las Vegas casino mogul Steve Wynn is stepping down as Republican National Committee finance chair, according to three Republicans familiar with the decision. The decision follows a Friday report in the Wall Street Journal alleging that Wynn engaged in sexual harassment.
There’s also this from Forbes:
Wynn Resort shares fell over 10% on Friday after allegations of sexual misconduct came to light against the company’s billionaire CEO, Steve Wynn.
The company saw its market cap drop over $2 billion today after The Wall Street Journal reported that dozens of people who worked for Wynn described patterns of sexual misconduct dating back decades. For Wynn, the largest shareholder in Wynn Resorts with a 12% stake in the company, the tumble shed nearly $250 million in his net worth.
The WSJ’s piece, which cites two former employees of Wynn casinos on the record, a reported $7.5 million settlement with an ex-worker and a number of unnamed accusers, paints a picture of Wynn using his powerful seat to sexually harass female employees over a span of many years.
The stock plunge cost Wynn less than 10% of his fortune.