Real Estate Billionaires 2010
Forbes has announced its 400 richest Americans for 2009, and as expected, real estate tycoons still enjoy many of the top spots. Real estate fortunes have declined in recent years, so these millionaires represent the canniest financial minds in the industry. Here, without further ado, we present the top ten real estate tycoons, some of the richest people in the entire world!
Donald Bren
With a net worth of $12 billion, Donald Bren has earned his place as the top real estate tycoon for 2010. A native of Newport Beach, California, Bren is credited with developing the central Orange County area, and currently owns 475 commercial buildings, 115 apartment complexes and over 40 retail centers. Despite recent real estate industry difficulties, Bren’s net worth has remained stable over the past year.
Richard LeFrak
New York City’s real estate billionaire Richard LeFrak follows in his father’s footsteps in land development in this prestigious and competitive real market. Investments include a combined residential, retail, and commercial development in Newport, New Jersey and 5,000 apartments in Queens. LeFrak’s portfolio has lost value in the last year, but still weighs in at a cool $4 billion.
Paul Milstein
The last year has seen significant losses in Paul Milstein’s financial investments, down from last year to $3.8 billion this year. Milstein Properties owns a number of apartment towers and commercial developments throughout Manhattan that were hard hit by recent economic events; additionally, the acquisition of New York’s Emigrant Bank paid huge dividends in the past, but now may seem like a liability for Milstein’s shrinking portfolio.
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Inside Look – New York Real Estate – Bloomberg
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