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Dottie Herman lands on Forbes’ “richest self-made women” list
What do Oprah Winfrey, Sheryl Sandberg, Beyoncé Knowles and Dottie Herman have in common?
They’re among the richest self-made women in the nation, according to Forbes magazine. Douglas Elliman’s president and CEO – dubbed the wealthiest “self-made woman in American real estate” – has an estimated net worth of $270 million, according to the magazine.
Herman began her career as a real estate broker at Merrill Lynch on Long Island in the 1980s, and in 1989 she purchased Prudential Long Island Realty. She expanded the firm before making a career-defining move in 2003, when she and partner Howard Lorber acquired Elliman for $72 million.
Elliman, the largest brokerage in New York City which has recently expanded to Los Angeles, closed roughly $22 billion in sales nationwide last year.
The ranking is Forbes’ second tally of successful female execs, and includes 60 women estimated to be worth a combined $53 billion. Diane Hendricks, who founded the roofing company ABC Supply, topped the list, with a net worth of $4.9 billion, followed by Oprah ($3.1 billion) and Judy Faulkner, CEO and founder of the healthcare software company Epic Systems ($2.4 billion).
Herman tied for the No. 54 spot with Barbara Bradley Baekgaard, co-founder of retailer Vera Bradley, edging out No. 56-ranked Beyoncé by $10 million.
Others on the list were Facebook’s Sheryl Sandberg ($1.4 billion) and Yahoo’s Melissa Mayer ($430 million), as well as Taylor Swift ($250 million) and Jessica Alba ($340 million).
Herman’s business partner, Lorber, also isn’t hurting for cash. In 2015, the Vector Group CEO’s total pay topped $42 million, up from $30 million in 2014. [Forbes] — E.B. Solomont