Who Are The Richest Real Estate Billionaires On 2022

 

While Donald Trump may have dropped off the Forbes 400 list of wealthiest Americans this year, his fellow real estate moguls have increased their fortunes—both in prime areas (Palm Beach) and in places that are still rebounding (New York).
The collection of real estate tycoons on this year’s Forbes 400 list of wealthiest Americans is remarkable for both those who did and those who did not make the cut: With a net worth of $2.5 billion, Donald Trump fell shy of the $2.9 billion required to reach the list of the 400 wealthiest Americans. In 2021, the former president isn’t the only one who has stepped down. Richard Peery and John Arrillaga, both Silicon Valley developers, joined five other New York real estate billionaires on the Forbes 400 list. The 24 real estate tycoons on this year’s list are collectively worth $122 billion, roughly $4 billion less than the 32 real estate tycoons who were on the list in 2020.
Despite the continued COVID-19 pandemic and the delayed return to work of many people in various places across the country, America’s real estate barons have become wealthier as their valued properties and diverse portfolios rebounded from 2020 lows. Since the Forbes 400 list came out in 2020, real estate billionaires in cities like New York and Chicago, as well as Los Angeles and Palm Beach, have seen their fortunes rise. Ted Lerner, the owner of the Washington Nationals baseball team, lost $100 million this year.
Donald Bren of Orange County, California, remains the wealthiest real estate tycoon in the country, with an estimated net worth of $16.2 billion, up over $1 billion from last year. Neil Bluhm, a Chicago-based gambling and real estate entrepreneur, saw his net worth increase by $2.4 billion to $6.4 billion, owing partly to his holdings in publicly traded online gaming company Rush Street Interactive. (Despite the pandemic, his luxury retail real estate assets in Chicago have performed well.) Billionaires with industrial real estate portfolios, such as Leonard Stern in New Jersey and the Southeast, and H. Ross Perot, Jr. in Texas, have benefited from rising industrial real estate prices. One explanation is that the value of warehouses has risen as a result of the shift to more online shopping.
Even in New York, the majority of Manhattan’s real estate billionaires saw their fortunes rise from the abyss of 2020. Rick Caruso, the retail king of Los Angeles, is now worth $400 million thanks to increased foot traffic to his (mostly outdoor) malls; in Silicon Valley, tech developers 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 remain relatively flat.
That isn’t the case in sweltering South Florida, where real estate investors with substantial footprints in Palm Beach and Miami have reaped the benefits of rising property values throughout the region. For example, Jeff Greene of Palm Beach is $1.2 billion richer this year as a result of his investments in Florida. The only returnee to this year’s list is Donald Horton, the 71-year-old founder of the eponymous Dallas-based homebuilder, D.R. Horton, whose shares have risen nearly 50% in the past year on the back of rising demand for homes across the country. Horton’s sole previous appearance on the Forbes 400 was in 2005.
The Forbes 400 list includes 24 real estate billionaires:
(As of September 3, 2021, the net worth was calculated.)
Donald Bren is a writer who lives in the United States.

Net worth of $16.2 billion (up from $15.3 billion in 2020)

Newport Beach, California is where he calls home.
The creator of real estate behemoth The Irvine Company has retained his position as America’s richest real estate billionaire. Bren is in charge of more than 126 million square feet of real estate in southern California, most of which is in Orange County. This includes more than 560 office buildings, including the MetLife Building in New York City, and 125 housing complexes as the owner of Irvine.
Stephen Ross is a writer who lives in the United States.

$8.3 billion in net worth (up from $7.2 billion).

New York, NY is where I call home.
Ross, a former tax attorney, launched Related Companies in 1972 as a developer of affordable housing and expanded it into a multibillion-dollar real estate conglomerate that has produced or purchased more than $60 billion in property. According to Forbes, Related’s net worth increased by $1.1 billion in the last year as the company moved further into south Florida. Aside from Related, Ross also secured a deal to host a Formula 1 grand prix event in Miami beginning in 2022, on a track being built next to Hard Rock Stadium, home of the NFL’s Miami Dolphins, which Ross owns a controlling stake in.
Sun Hongbin has a net worth of $6.9 billion dollars (new).

Tianjin, China is where I call home.
The Tianjin-based real estate developer is the only Forbes 400 real estate mogul who does not reside in the United States. Sunac China Holdings, a Hong Kong-listed company, controls about 150,000 acres of land and real estate across China, with the largest footprint in the southwestern city of Chongqing.

Neil Bluhm ($6.4 billion in net worth, up from $4 billion)

Chicago, Illinois is where I call home.
Bluhm’s online casino and sports betting company, Rush Street Interactive, went public in December after a reverse merger with blank check firm dMY Technology Group. It was one of the biggest wins of Bluhm’s career. His net worth rose by more than $1 billion because of that sale, but his real estate holdings in Los Angeles and Chicago, especially luxury retail properties in Chicago’s affluent Gold Coast neighborhood, also played a role in the $2.4 billion gain he made in the last year.
Stern, Leonard,

$6.2 billion in net worth (up from $4.2 billion)

New York, NY is where I call home.
Stern is the chairman and CEO of Hartz Mountain, a New York-based commercial real estate conglomerate with over 250 buildings throughout New Jersey and the East Coast, including Atlanta, Baltimore, and Charlotte. Despite the general real estate market collapse, Hartz Mountain’s primarily industrial warehouse portfolio, which is focused on suburban locations, has performed well.
Edward Roski, Jr.’s net worth has increased to $6.1 billion from $5.5 billion.

Los Angeles, California is where I call home.
Roski is the CEO of Majestic Realty, a Los Angeles-based real estate development company with 87 million square feet of industrial, office, retail, and residential space. Majestic, which was founded by Roski’s father in 1948, specializes in industrial properties in California, but it also has assets in Texas, Georgia, Florida, Pennsylvania, and Colorado.
Sobrato, John A., and his family

Net worth of $6.1 billion (up from $6 billion)

Atherton, California is where I call home.
Sobrato began selling homes in Palo Alto as a teenager while attending Santa Clara University. He went on to found the Sobrato Organization, a Silicon Valley real estate developer that has worked with clients such as Google and Netflix and now owns more than 7.5 million square feet of office space. In 2013, he turned his attention to his family’s charitable work, leaving the day-to-day running of the company to the company’s president of real estate, Rob Hollister.
Sam Zell is a writer who lives in New York.

Net worth of $6 billion (up from $4.7 billion)

Chicago, Illinois is where I call home.
Zell is a prolific investor with interests in real estate, energy, logistics, healthcare, and more. He is known as the forefather of modern real estate investment trusts. His biggest real estate holdings are Equity Lifestyle, a publicly traded owner and operator of prefabricated home communities and RV resorts, and Equity Residential, a publicly traded apartment REIT. Zell’s private equity company, Equity International, owns businesses in Argentina and Colombia that aren’t in the United States. ARG Realty is a commercial real estate company in Argentina, and Decameron is a hotel company in Colombia.
Greene, Jeff

Net worth of $5.1 billion (up from $3.9 billion)

Palm Beach, Florida is where he calls home.
During the housing crash of 2007 and 2008, the billionaire made his fortune by buying credit default swaps on subprime mortgage-backed bonds. He has now made his fortune during a crisis for the second time in less than a decade. Greene’s residential condos and apartments in South Florida—as well as some retail, office, and property under development—soared in value as the region’s market drew buyers throughout the epidemic, and his residential assets in housing-strapped Los Angeles fared similarly well in 2020.
My home is in Chevy Chase, Maryland.

The 95-year-old Lerner is one of only two real estate magnates on the Forbes 400 whose net worth has decreased since September 2020—the other being Jane Goldman, the head of the Goldman clan of New York residential real estate billionaires, who is an estimated $100 million poorer—and he is also the list’s eldest real estate member. (Real estate billionaires tend to be older, with an average age of 76 among the 24 in this year’s Forbes 400.) The majority of Lerner’s fortune is made up of office buildings and apartments in Washington, D.C., both of which have held up well during the pandemic—his most valuable office towers are nearly fully occupied—but his retail properties in the neighborhood have suffered. Lerner began his career in real estate seven decades ago when he borrowed $250 from his wife to establish a business selling properties to developers.

Igor Olenicoff
Net Worth: $4.7 billion (Up from $4.3 billion)
Residence: Lighthouse Point, Florida
Rick Caruso
Net Worth: $4.3 billion (Up from $3.9 billion)
Residence: Los Angeles, California
Ty Warner
Net Worth: $4.3 billion (Up from $2.3 billion)
Residence: Oak Brook, Illinois
Richard LeFrak & family
Net Worth: $3.9 billion (Up from $3.6 billion)
Residence: New York, NY

Donald Sterling
Net Worth: $3.9 billion (Up from $3.8 billion)
Residence: Beverly Hills, California
Charles Cohen
Net Worth: $3.6 billion (Up from $3.5 billion)
Residence: New York, NY
Jay Paul
Net Worth: $3.6 billion (Up from $3.4 billion)
Residence: San Francisco, California
Jerry Speyer
Net Worth: $3.6 billion (Up from $3.3 billion)
Residence: New York, NY
Herb Simon
Net Worth: $3.4 billion (Up from $2.6 billion)
Residence: Indianapolis, Indiana
H. Ross Perot, Jr.
Net Worth: $3.2 billion (Up from $2.5 billion)
Residence: Dallas, Texas
Jeff Sutton
Net Worth: $3.1 billion (Up from $3 billion)
Residence: New York, NY
Mortimer Zuckerman
Net Worth: $3 billion (Up from $2.6 billion)
Residence: New York, NY
Jane Goldman
Net Worth: $2.9 billion (Down from $3 billion)
Residence: New York, NY
Donald Horton & family
Net Worth: $2.9 billion (Returnee)
Residence: Fort Worth, Texas