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Real Estate Tycoons Blanket Forbes’ Billionaires List

by Kianna Warburton

The Forbes 400 list for this year has once again shown that despite the distress in commercial real estate, the wealthiest real estate tycoons are still thriving. According to Forbes, there are twenty-five billionaires on the list whose wealth can primarily be attributed to the real estate industry. In total, these individuals have a combined net worth of $139 billion, which is $5 billion more than last year’s list.

The person who topped the list as the wealthiest real estate tycoon in the country is Donald Bren, the chairman of Irvine Companies. Not only did his net worth increase by $600 million from last year, but he also moved up in the overall billionaire rankings, going from 97th to 39th. Bren’s success is a testament to his astute business acumen and real estate investments.

Stephen Ross, the chairman of Related Companies, ranked second on the real estate billionaires list. However, it was a bittersweet ranking for him as he experienced the sharpest decline in net worth among those who carried over from last year’s list. Ross’s net worth contracted by $1.5 billion, but he is still worth a substantial $10.1 billion.

Two newcomers made their way onto the real estate list this year. Geoffrey Palmer, based in Los Angeles, accumulated a net worth of $3.1 billion, securing a spot on the ranking. The other addition was Annette Lerner, who inherited her husband’s real estate wealth following his passing earlier this year. These individuals demonstrate that new players can still make their mark in the competitive real estate industry.

One notable absence from this year’s list is former president Donald Trump. This is the second time in three years that he has not been included, partially due to his involvement in the distressed office market. With his ongoing civil fraud trial in New York, it may be challenging for Trump to regain his position on the Forbes list.

Several other notable real estate tycoons from New York made the list as well, including Leonard Stern, Richard LeFrak and his family, Jerry Speyer and his family, and Charles Cohen. These individuals continue to maintain their wealth in the ever-changing real estate landscape.

Other prominent names on the list include Jeff Greene, Ty Warner, Rick Caruso, Donald Horton and his family, Donald Sterling, and Jay Paul. These individuals have accumulated significant wealth through their real estate ventures and have solidified their positions on the Forbes 400 list.

Overall, the Forbes 400 list reaffirms the resilience and success of real estate tycoons despite the challenges faced by the industry. These billionaires continue to navigate the market and generate substantial wealth through their strategic investments and developments. As the real estate landscape evolves, it will be interesting to see how these individuals adapt and maintain their positions on future lists.

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