Sobrato & family Net Worth: $6.1 billion (Up from $6 billion) Residence: Atherton, California Founded by Roski’s father in 1948, Majestic is focused on industrial properties in California but also owns assets in 11 other states including Texas, Georgia, Florida, Pennsylvania and Colorado. Roski heads Majestic Realty, a Los Angeles-based development firm with 87 million square feet of industrial, office, retail and residential real estate. Net Worth: $6.1 billion (Up from $5.5 billion) Residence: Los Angeles, California Hartz Mountain’s largely industrial portfolio of warehouses, concentrated in suburban areas, has performed well amid the broader downturn in the real estate market.Įdward Roski, Jr. Stern is chairman and CEO of Hartz Mountain, a commercial real estate giant based in New York with more than 250 properties throughout New Jersey and the East Coast, including Atlanta, Baltimore and Charlotte. Leonard Stern Net Worth: $6.2 billion (Up from $4.2 billion) Residence: New York, NY That deal alone boosted his net worth by more than $1 billion, but Bluhm's real estate assets in Los Angeles and Chicago-particularly luxury retail properties in Chicago’s wealthy Gold Coast neighborhood-have also contributed to Bluhm’s $2.4 billion gain over the past year. WireImage Neil Bluhm Net Worth: $6.4 billion (Up from $4 billion) Residence: Chicago, Illinoisīluhm pulled off one of the biggest wins of his career in December when he took his online casino and sports betting firm Rush Street Interactive public via a reverse merger with blank check firm dMY Technology Group. His Hong Kong-listed Sunac China Holdings owns nearly 150,000 acres of real estate and land across China, with the largest footprint in the southwestern city of Chongqing. The Tianjin-based real estate developer is the only real estate tycoon on The Forbes 400 who doesn’t live in the U.S. Sun Hongbin Net Worth: $6.9 billion (New) Residence: Tianjin, China Outside of Related, Ross also sealed a deal to hold a Formula 1 grand prix race in Miami-starting in 2022-at a circuit being built beside the Hard Rock Stadium, home to the NFL’s Miami Dolphins, a team that is majority-owned by Ross. Forbes estimates his net worth rose by $1.1 billion over the past year as Related expanded further into south Florida. Stephen Ross Net Worth: $8.3 billion (Up from $7.2 billion) Residence: New York, NYĪ former tax attorney, Ross founded Related Companies as a developer of affordable housing in 1972 and grew it to a giant that has developed or acquired more than $60 billion in real estate. As the owner of Irvine, Bren oversees an empire with more than 126 million square feet of real estate across southern California, much of it in Orange County, as well as more than 560 office buildings-including a 97% stake in Manhattan's MetLife Building-and 125 apartment complexes. The founder of real estate colossus the Irvine Company retains his spot as the richest real estate billionaire in the U.S. Here are the 24 real estate billionaires on The Forbes 400: (Net worths are as of September 3, 2021)ĭonald Bren Net Worth: $16.2 billion (Up from $15.3 billion in 2020) Residence: Newport Beach, California Horton fell off The Forbes 400 in 2005, his only previous appearance. Horton, whose shares have risen by nearly 50% over the past year on the back of growing demand for homes across the United States. And the only returnee to this year’s list is 71-year-old Donald Horton, founder of the eponymous Dallas-based homebuilder D.R. That’s not the case in red-hot south Florida, where real estate investors with large footprints in Palm Beach and Miami have benefited from a rise in property prices across the region: Palm Beach-based Jeff Greene, for one, is $1.2 billion richer this year thanks to his holdings in the Sunshine State. In Los Angeles, retail king Rick Caruso is $400 million richer partly due to growing foot traffic to his (mostly outdoor) malls in Silicon Valley, developers for the tech industry like John Sobrato and Jay Paul-who didn’t suffer as much of a drop in 2020 due to the resilience of their clients-saw their fortunes stay relatively flat. Even in New York, most of Manhattan’s real estate billionaires saw their fortunes recover from the depths of 2020.
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