Top 3 Real Estate Billionaires in the U.S.
Thanks to a booming real estate economy, the U.S now boasts more real estate billionaires than any other country. While there are millions of millionaires in the U.S. alone who created their wealth from real estate, 29 U.S. billionaires have created their wealth from real estate and 3 of those are in the top 20 richest people on the globe.
Forbes list top 3 real estate billionaires
New to the Forbes list on U.S billionaires in the real estate category is David Walentas who owns big stakes in the Brooklyn area. He has neighborhood developments in Brooklyn that they are known for today. Then there is Jeff Sutton, a Manhattan real estate landlord known for bringing American Girl to Fifth Avenue. Jeff demands some of the highest rents in the country.
Arguably the most notorious real estate billionaire today is “the Donald”. Donald Trump places his net worth at over $8 billion dollars. Whether you love him or not there is no mistaking he knows how to make money in real estate. A portfolio full of Towers, fancy hotels, condominiums of luxurious proportions and of course, golf courses.
Location brings success
Indeed real estate is all about location. One thing these real estate moguls all have in common is they own real estate in some of the most sought after high demand locations in the country and even throughout the world.
Many of you may already know the story of Ray Kroc, the partner of the McDonald brothers who is well known for the McDonald's fast food chain. The real money behind this enterprise is not the hamburgers and french fries it is the real estate the buildings sit on. You may notice that McDonalds are located on some of an area’s most valuable high traffic real estate.
The Publix grocery store chain in the southern part of the country also carries that same story as do a number of successful businesses. Real estate is indeed in the portfolios of most successful businesses and are huge contributors to the success of their companies.
A real estate mogul who cashed in before the recession
Most definitely worth mentioning is the well-known Thomas Barrack. Thomas was well known for being astute enough to sell off his real estate holdings in 2005 when the market was booming. He struck it big as this was a massive sellers’ market through much of the country.
He was able to sell quickly and for top dollar knowing he could cash in big and reposition his assets when it made better sense to. Thomas identified a problem, he saw too many people with lots of cash chasing the few deals available in real estate. One of the indicators we look at, of course, is when there is too much money chasing the same investment which is a good indicator that the pendulum is about to swing.
Well indeed this was fun looking at the talents of these top performing real estate moguls. There is so much inspiration and knowledge we can obtain from all their stories and following their actions. Some had a great start from parents others started from the ground up. The common denominator is they all took serious action. They got informed on the markets and put their foot in the arena.
See you at the top!