Back in September, Wynn Resorts CEO Steve Wynn was spending two hours each day on Chinese lessons. At age 65, Wynn is worth $3.4 billion -- yet he's still learning new tricks.
Why? Because the Wynn Macau -- Mr. Wynn's latest megacasino -- was getting set to open just off the coast of China. That's right on the doorstep of some 3 billion potential customers.
Big bets for big paydays
And how has the Wynn Macau fared? Quite well -- though the stock has slid after the company announced it would slow expansion on Macau.
But Steve Wynn isn't the only billionaire going gaga over foreign markets. Wynn rival and Las Vegas Sands CEO Sheldon Adelson, himself worth $26.5 billion, is making a similar investment in Macau's potential. Then there's Anheuser-Busch
Entrepreneurs and investors alike
Then there are the master investors who have been buying up Chinese stocks at a rapid clip. Ruane Cunniff now has a nearly $10 million stake in TOM Online, Ron Baron has a $5 million stake in New Oriental Education
Even Warren Buffett has stoked the international frenzy, with purchases of PetroChina
The question we have to ask
So -- and you had to know I was coming around to this -- what have you been adding to your portfolio lately?
Me? I know I'm underexposed to international stocks, and I've resolved to make 2007 the year I do something about that. One place I'm set to start is at our new Global Gains international investing service. You can join me free for 30 days by clicking right here.
This article was originally published on Jan. 19, 2007. It has been updated.
Tim Hanson owns shares of Wynn Resorts. TOM Online is a Motley Fool Stock Advisor pick. New Oriental Education is a Global Gains selection. Anheuser-Busch is an Inside Value choice. No Fool is too cool for disclosure.
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