The richest Native American tribes in the world

Native American tribes

They say you have to work hard and chase your dreams, but if you are from the richest Native American tribe in the world, you can sleep a lifetime and live in luxury. Their main source of income is casino gambling, and over 200 tribes won nearly $ 39 billion collectively in 2015. If you are lucky enough to belong to one of the wealthier tribes, you can take advantage of the distribution of per capita payments each month which is part of the income distribution plan. Of course, the more members there are, the less your share. This caused the disbandment of the tribes, as some seek larger payments by expelling other members of the tribe. Let's review four of the richest Native Americans and what each tribe member gets per month.

4. Mashantucket Pequot - Annual revenue of $ 539,2 million

In 2009, The Courant considered the Mashantucket Pequot to be the richest Native American in the world. It consisted of around 800 members who received at least $ 100 a year for each adult, although they did not work. Unfortunately, while gambling money made them dependent on regular paychecks, they made some bad investment decisions. In 000, their main source of income, the Foxwoods Resort Casino, had a loan of more than $ 2012 billion, forcing the tribe to stop handing out allowances and members having to look for employment to support themselves. It was a gradual decrease, from $ 2 to $ 10 to $ 000; the tribe also offered financial counseling and other aids to help members cope with the changes. Fortunately, they elected Rodney Butler as their tribal president in 1, who listened to advice from financial consultants to continue to develop the casino. After the tribe defaulted on the $ 500 billion debt, it took it five years to restructure, and by 500 it owed $ 2009 billion. Foxwoods Resort Casino has 2,3 gaming tables, the largest poker table on the east coast, a 2020 seat bingo hall and a state-of-the-art race book. He has contributed more than $ 1,9 billion to Connecticut and enables the Mashantucket Pequot to make a lucrative profit, which in 300 stood at $ 3 million.

3. Seminole - Annual income of $ 853,84 million

The Seminole Tribe of Florida may be cautious about sharing tribal information with outsiders, but they were smart enough to hire a non-Native general manager for their gaming operations. In 2006, Jim Allen enabled the tribe to control the Seminole Hard Rock Hotel & Casino after defeating 72 bidders. The Seminoles thought he had gone mad, but by 2016 the savvy business executive had managed to amass a lot of wealth for the tribe with just over 4 members. It has helped them accumulate more than $ 000 billion in revenue from various operations which include 5 hotels, 23 casinos and 11 Hard Rock cafes. Immediately thereafter, Allen was already planning to add 168 more Hard Rock coffees to Seminole's portfolio.

Through his efforts, each tribe member receives $ 128 per year, distributed in the form of bi-monthly payments. Before Allen took the helm, members only received $ 000. Along with the high paychecks, members also have access to free private school and college fees, senior care, and universal health care. By the time the seminole children turn 30, they are multimillionaires because the child and parents are not allowed to withdraw money from the trust funds until the children are adults. According to Deep South Magazine, the Children's Trust Fund earlier paid Seminole high school students $ 000 after graduation, but the amount has since grown to $ 18. The state of Florida also profited from huge sums of money thanks to a deal negotiated in 17 that the tribe would make bona fide payments to the state in return for exclusivity to offer blackjack and other bank card games. The state violated the agreement, and in 000, the Seminole Tribe stopped paying the $ 200 million in annual revenue sharing.

2. Mohegan - Annual revenue of $ 992 million

In 2004, the Mohegan brought in $ 1,4 billion in revenue, an amount that had grown at a rate of 14% since 2000. According to Forbes, the tribe operates the Mohegan Sun Casino, which was ranked as the second largest United States casino with 6 locations. As the Mohegan faced stiff competition from Mashantucket Pequot, the tribe chairman then decided to increase assets beyond casino games. So, they bought a horse racing track, making them the first Native American tribe to purchase a non-tribal game asset. The expansion of Mohegan Sun Casino has brought good news to members whose allowance has increased from $ 200 to $ 12 per year. Newborns have not been left behind; they would have over $ 000 by the age of 28. Still, the annual allowances could have cost the tribe financially because, as of September 000, 400, they were in debt of around $ 000 billion. Fortunately, they made good financial investments by diversifying and investing beyond the reserve. They operate resorts and casinos in Pennsylvania, New Jersey, Canada and Louisiana. The tribe has also crossed borders to build a multi-billion dollar casino and resort in South Korea and hold casino rights in Greece. Therefore, even though their market share in Connecticut has declined significantly, their annual revenue is still high. The Mohegan Tribal Gaming Authority, the gaming subsidiary, reported a profit of $ 18 million in 30.

1. Shakopee Mdewakanton - Annual revenue of $ 1 billion

The Shakopee Mdewakanton are the wealthiest Native American tribe, according to individual personal wealth. They are 480 members and each member receives about $ 84 per month, as revealed by a divorcing tribe member. The tribe is so rich that no one has to work; in 000, then tribe president Stanley R. Crooks boasted that he benefited from 2012% voluntary unemployment. According to the Daily Mail, the main sources of income for the Shakopee Mdewakanton tribe are two casinos that attract tens of thousands of players from across the state. The Mystic Lake Casino features an 99,2-hole golf course, a 18-seat concert hall, a 2-room hotel, five restaurants and an 100-seat outdoor amphitheater. The reserve also has Little Six Casino, and together they account for $ 600 billion in Minnesota gambling profits.

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