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Real estate tycoons blanket Forbes’ billionaires list

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Real estate tycoons blanket Forbes’ billionaires list

Donald Bren up, Steve Ross down, Donald Trump out


Real Estate Tycoons Blanket Forbes’ Billionaires List
Related Companies’ Steve Ross, Geoffrey Palmer, Irvine Companies’ Donald Bren and former president Donald Trump (Getty)

Commercial real estate distress be damned, the wealthiest real estate tycoons are still plenty rich.

Twenty-five billionaires whose wealth can primarily be attributed to real estate cracked the Forbes 400 list this year, according to the publication. On the 2022 list, there was one fewer person and $5 billion less in net worth, which combined among the 25 to be worth $139 billion.

The wealthiest real estate tycoon in the country was once again Irvine Companies’ Donald Bren. His net worth surged by $600 million from last year. The nonagenarian also moved up in the overall billionaire rankings from 97th to 39th.

Related Companies’ Stephen Ross ranked second on the real estate billionaires list, but it’s a bittersweet ranking for the Hudson Yards developer. His net worth saw the sharpest decline among those who carried over on the list from year to year, seeing his estimated net worth contract by $1.5 billion; he’s still worth $10.1 billion.

Then, there’s the case of the former president. For the second time in three years, Donald Trump was absent from the Forbes list, partially due to his ties to the distressed office market. It may be difficult for Trump to reemerge on this list, especially if he’s assessed damages in his ongoing civil fraud trial in New York.

Other New Yorkers on the list include Leonard Stern ($8.1 billion), Richard LeFrak and his family ($3.3 billion), Jerry Speyer and his family ($3.1 billion) and Charles Cohen ($3 billion).

Other notable names include Jeff Greene ($7.5 billion), Ty Warner ($5.7 billion), Rick Caruso ($5.3 billion), Donald Horton and family ($4.6 billion), Donald Sterling ($4 billion) and Jay Paul ($3 billion)

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