Here’s where NYC’s real estate players ranked on Forbes’ billionaires list

Ross, LeFrak and Schwarzman took the top places

New York /
Mar.March 21, 2017 02:25 PM

When it comes to international billionaires, New York City’s real estate tycoons are relatively small fry.

Forbes released its 2017 World’s Billionaires list this week. The city’s highest ranked real estate player is Blackstone Group’s TRData LogoTINY CEO Stephen Schwarzman, whose net worth of $11.7 billion puts him in 112th spot. A few rungs down is Stephen Ross, who came in at 186th place. The Hudson Yards developer has a net worth of $7.4 billion, according to Forbes. Richard LeFrak, with $6.5 billion, is 219th place on the list.

Not far behind is Equity Residential founder Sam Zell, whose $5 billion earned him 324th place on the international list. Hartz Group CEO Leonard Stern is ranked 414th, with $4.2 billion, and Jerry Speyer, of Tishman Speyer, placed at 501st, with a net worth pegged at $3.7 billion. Retail magnate Jeff Sutton — who has $3.6 billion — came in at 522nd. President Donald Trump worth is $3.5 billion, according to Forbes, putting him at 544th on the list. He dropped 208 spots because of Manhattan’s softening real estate market, according to the magazine.

Allan Goldman and his younger sister Jane, who run Solil Management,  jointly took 660th place, each with a $3 billion net worth. Boston Properties TRData LogoTINY Mort Zuckerman is ranked 693rd, with $2.9 billion, while Charles Cohen, with $2.8 billion, is listed at 717th place. WeWork’s Adam Neumann, with $2.5 billion, is ranked 814th of the world’s billionaires.

According to the list, the country’s richest real estate developer is Donald Bren, chairman of the Irvine Company, who made 66th on the list with $15.2 billion. The world’s richest real estate tycoon is Dalian Wanda Group CEO Wang Jianlin, who placed 18th with $13.3 billion.

For the fourth year in a row, Bill Gates topped the list with $86 billion and Berkshire Hathaway’s Warren Buffett came in second with $75.6 billion. The number of billionaires the magazine counted increased 13 percent to 2,043 this year, the Wall Street Journal reported. Forbes said healthy stock markets and higher commodity prices are behind the jump.

Last year, the New York City’s real estate players barely made the country’s top 50 in the magazine’s ranking of the 400 wealthiest Americans.  Schwarzman was No. 45, with his net wealth then pegged at $10.3 billion. Ross ranked 58th in the country’s rich list and LeFrak came in 73rd place.

While few billionaires have actually made their fortunes in New York City real estate, many live here (or have second, third or fourth homes). Last year, The Real Deal mapped out where the richest New Yorkers live.   [Forbes]Miriam Hall


Related Articles

arrow_forward_ios
Freshly CEO Michael Wystrach and 28 East 28th Street (Photos via Twitter; Google Maps)
Freshly inks big lease in NoMad
Freshly inks big lease in NoMad
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
(Photo illustration by The Real Deal)
Inside mall owner Namdar’s rapid growth story
Inside mall owner Namdar’s rapid growth story
15 Park Row (Google Maps)
J&R Music founders sell Park Row apartment tower for $140M
J&R Music founders sell Park Row apartment tower for $140M
Claudio Del Vecchio has owned Brooks Brothers since 2001. (Getty)
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Gov. Andrew Cuomo (Getty)
Industry reacts to Cuomo’s proposed commercial eviction ban
Industry reacts to Cuomo’s proposed commercial eviction ban
Merchants Hospitality Inks Club Deal at Cachet Hotel (Google Maps, Playboy Club)
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
arrow_forward_ios

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

Loading...