Who is the Richest Real Estate Developer?
Listed below are the five most wealthy real estate developers in the world. Jeff Greene, Lee Shau-Kee, High Grosvenor, and Richard Lefrak. Jeff Greene, Lee Shau-Kee, and Richard Lefrak are all based in California, and they each have a great deal of experience in the real estate industry. However, Jeff Greene is reportedly the richest real estate developer in the world, so we’re unsure of his real net worth.
Jeff Greene
As the richest real estate developer in the world, Jeff Greene has made himself a name. He became wealthy by betting against risky mortgages during the housing crash, and now he’s having difficulty selling his enormous Los Angeles mansion. Greene began his career as a busboy at the Breakers hotel in Palm Beach, Fla., and was influenced by hedge fund executive John Paulson.
The developer’s projects include One West Palm, a 250-million-dollar project that has been under development for five years. While One-West Palm has yet to be completed, it’s Greene’s largest project in the city. It’s taller than ten stories and has the potential to include a hotel, office, and multi-family units. But Greene’s success hasn’t been without controversy.
Lee Shau-Kee
Dr. Lee Shau-Kee, Hong Kong’s richest real estate developer, was born in 1929. He grew up in a poor family in Hong Kong and co-founded a property developer called Sun Hung Kai in 1956 with Kwok Tak-Seng, the father of the Hong Kong billionaire Kwok brothers. In 1976, Lee founded his own real estate company, Henderson Land Development, which now accounts for most of his wealth. In addition, he donated more than $400 million to charity and education, including scholarships and the Hong Kong Ferry Company.
Lee Shau-Kee’s net worth has jumped by about 40 percent in the past year, making him the richest real estate developer in the world. He plans to pass his business to his two sons when he retires. His two sons are the founders of their respective companies and will inherit his wealth upon his passing. These two sons are now making their way through the business, and his net worth is expected to rise even more in the years to come.
High Grosvenor
Vancouver-based High Grosvenor real estate developer is making its mark on Metro Vancouver with several completed projects. The company has acquired the former Oakridge Transit Center site and the downtown tower, the Pacific. It also focuses on a master-planned Brentwood community near the downtown core. In addition, the company has completed projects in Vancouver such as the Connaught at Edgemont Village and the 36-story Metrotown tower Polaris.
As part of this initiative, a local investment firm, Transca Real Estate Development, will construct and market the development. MOMC will remain a capital partner. The complex will include more than 300 social housing units and 200 secured market rental units. The developer is also planning to include a percentage of units for people with moderate incomes (defined by the city as $30-80k), while the rest will be strata-sold.
Richard Lefrak
Richard LeFrak is one of America’s richest real estate developers. He is the founder and Chairman of LeFrak, a New York City-based real estate firm. The company has over 400 buildings, a presence in more than four million square feet of retail space, and stakes in more than 800 oil and gas wells. He has an estimated net worth of $4.2 billion and is one of the most influential real estate investors.
A billionaire, Richard LeFrak is an active investor in oil exploration and financial investments. While best known as a real estate developer, he also appears in prominent business programs. He sits on the American Museum of Natural History boards, the Prostate Cancer Foundation, Trinity School, and the New York State Banking Board. He also serves on the boards of several organizations and is a director of Bank United, Florida.
Chan Daiwa
Chan Daiwa is a Chinese business magnate who has built up an empire of more than 30 million square feet of real estate in Beijing. He founded the Fuwah International Group in 1990 and has expanded his business interests into many different fields. Currently, Chan focuses on the Chinese Red Sandalwood Museum, which he helped create and has made the most famous in China. The museum is named after the Chinese red sandalwood tree used to make beautiful furniture.
Chan Daiwa is married to Chinese actor Chi Zhongrui, known for portraying the character Xuanzang. The couple has two children. Chan Daiwa is a philanthropist who donated more than two hundred million dollars to charity. Her husband and two daughters are the main beneficiaries of her charitable contributions. Chan Daiwa has made a lot of money off of her social work, as well.
Leonard Stern
The fifth-richest real estate developer is Leonard Stern. He is the chairman of Hartz Mountain Industries, which has more than 260 properties, including a hotel, office, and residential buildings. Stern began his career in 1959 as a pet-shop owner and eventually branched into real estate. He is also a philanthropist, having named a school at New York University after his father.
Leonard Stern’s parents were both successful, the son of a wealthy entrepreneur. He graduated from Haverford College with a degree in art history in 1987. He was later awarded the prestigious Thomas J. Watson Fellowship to study fiction writing in Italy. After graduation, he became the business manager of the Village Voice, which he bought in 1985. The family’s fortune was a result of the entrepreneurial spirit of Leonard Stern.