The Real Deal New York

Which real estate magnates made Forbes’ billionaires list?

September 20, 2012 11:00AM

Forbes Magazine’s annual billionaire list is out, and Richard LeFrak and the Blackstone Group’s Stephen Schwarzman tied for the top spot occupied by a real estate baron: #63, the New York Observer reported. Both men show a net worth of $5.2 billion, according to Forbes.

Other real estate pros on the list include Related’s Steven Ross, at $4.4 billion, Hartz Mountain Industries’ Leonard Stern, at $4.2 billion, and attorney Sheldon Solow, at $3.5 billion.

Donald Trump was #128 with a reported $3.1 billion — a figure that has been disputed. John Catsimatidis, who may be picking up the Food Emporium chain soon, which could diminish his fortune of $3 billion, was #132 on the list, tied with Tishman Speyer’s Jerry Speyer.

New York Daily News’ head Mort Zuckerman, of Boston Properties, nabbed spot #190, with $2.4 billion in assets. [NYO] Guelda Voien

  • AvoidStupidity

    Donald Trump is not worth anywhere near what he would like the public to believe. The fact is that most projects with his name on them are really owned by investors foreign and domestic who pay him a fee in one form or another for the use of his name. Sadly, thanks to very good public relations and planned publicity a certain segment of the population believes the spiel he dispenses about himself and his political views. If it was not for his father who initially got him started we probably would never have heard of him which frankly would have been a blessing.

  • myronjberman

    Trump’s first big Manhattan deal was the rehabilitation of the boarded up Commodore Hotel at 42nd and Lexington into to the Grand Hyatt. Any real estate developer with the vision, foresight and courage could have done the deal. This was the 1970’s when New York City was on the brink of bankruptcy and 42nd St. and Lexington Ave. had become a seedy neighborhood. Donald Trump was the only real estate developer with the vision, foresight and courage to get the deal done. That is how Donald Trump got started as a big time developer.