No shortage of NYC real estate execs on Forbes richest people list

One theme: property giants got a lot wealthier in 2014

New York /
Sep.September 30, 2014 08:30 AM

Forbes is out with its annual list of the 400 richest people in America, and some of New York City’s real estate players saw their fortunes grow significantly since last year.

One thing that remained consistent this year: The city’s real estate heavyweights were left punching above their weight in one-on-one comparisons with former Mayor Michael Bloomberg. The ex-city boss is sitting pretty at No. 8 with $35 billion, up two spots and roughly $4 billion richer since last year.

Stephen Schwarzman, CEO and chairman of private equity firm Blackstone Group, once again topped the list of New York City’s real estate royalty. He clocked in at no. 42 overall with a $10.6 billion fortune, up from $7.7 billion in 2013 and just more than double his net worth two years ago.

Blackstone’s global head of real estate Jonathan Gray also cracked into the list this year with $1.6 billion.

Stephen Ross, chairman of the Related Companies leapfrogged developer and landlord Richard LeFrak this year. Forbes reports Roth’s wealth hit $6 billion, compared with $4.7 billion in 2013 (No. 83). Meanwhile, LeFrak’s fortune grew marginally to $5.8 billion (No. 88).

Real estate investor Leonard Stern tacked on about another billion to his personal wealth, climbing more than 20 spots to break into the top 100 with a fortune of $4.9 billion.

Donald Trump and Jerry Speyer of Tishman Speyer once again came in neck and neck. The two are worth $4 billion this year, versus $3.5 billion in 2013 by Forbes’s measure – though the Trump Organization might insist the magazine is low-balling, as it has claimed in the past.

Sheldon Solow fell behind in the rankings – from no. 134 to no. 151 – though his riches grew slightly to $3.6 billion from $3.5 billion.

Retail investor Jeff Sutton saw a big leap from his debut on the list last year at no. 273 to the no. 190 slot. His fortune grew from $2 billion in 2013 to $3 billion this year.

And the godfather of Dumbo development, David Walentas, debuted at no. 368 this year with a net worth of $1.7 billion. [Forbes] — Tom DiChristopher


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Blackstone's Jonathan Gray, Fortress Investment's Peter Briger, Harry Macklowe and Donald Trump (Blackstone, Long Arc Capital, Getty Images)
The Fortress real estate hall of fame
The Fortress real estate hall of fame
From left: Letitia James, Donald Trump and Brett White (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images)
Cushman delivers 36K documents to AG in Trump probe
Cushman delivers 36K documents to AG in Trump probe
From left: Related's Stephen M. Ross and Bruce A. Beal, Jr. (Photo Illustration by The Real Deal with Getty Images, Related)
“Violations of unprecedented scope and severity:” NFL fines Stephen Ross for tampering with Tom Brady
“Violations of unprecedented scope and severity:” NFL fines Stephen Ross for tampering with Tom Brady
Blackstone COO Jonathan Gray and CEO Stephen Schwarzman (Blackstone, Illustration by The Real Deal with Getty)
Blackstone posts $29M loss, touts relative strength of real estate holdings
Blackstone posts $29M loss, touts relative strength of real estate holdings
Ivana Trump Funeral Itinerary
Trump children pay tribute to Ivana at UES funeral
Trump children pay tribute to Ivana at UES funeral
Ivana Trump
Ivana Trump: Right-hand mogul or window dressing?
Ivana Trump: Right-hand mogul or window dressing?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...