In this article we presented the Top 10 Real Estate Billionaires in the World.
Andrew Carnegie is a US-based industrialist. Sharing his views on property business, he once said, 90 percent of all millionaires made fortune with real estate investment. We agree with this statement because the industry did not cool off even in the pandemic era.
The real estate market makes a major portion of any economy. It is also a critical investment tool for both institutional and individual investors. Owning a property is one-time investment plan. The price of the property and value increases with time. The rented property also offers high profit per year because its price increases each year. This is probably one of the reasons even the laziest realtors can succeed in this career.
In the wake of coronavirus, the real estate industry also saw a downturn in 2020. The global lockdowns and health concerns led to fewer sellers interested in selling their properties and even fewer shoppers wanting to look for new homes.
Despite the grave economic conditions, real estate sales rebounded soon after some months. The Michigan Survey of Consumers shows house buying activities have returned to normal as they had been a year ago. Thanks to the strong planning of the real estate companies like American Tower Corp (NYSE: AMT), Simon Property Group Inc (NYSE: SPG), CROWN CASTLE INTERNATIONAL (NYSE: CCI) and POLOGIS (NYSE: PLD), the real estate sector is now seeing a rebound, with major real estate stocks trading in the red. The estate agents took bold steps to strengthen their relationships with their investors, end users, employees, and other stakeholders.
According to data from Grand View Research, the international real estate market is expected to make a profit of $4,263.7 billion in the next four years. Meaning, realtors will grow richer with time. Companies like American Tower Corp, Simon Property Group Inc, CROWN CASTLE INTERNATIONAL and POLOGIS will also see a rebound as companies begin to reopen offices and the rate of rent defaults plummet as people regain their lost jobs.
Photo by Blake Wheeler on Unsplash
Let’s now start our list of top real estate billionaires in the world.
Top Real Estate Billionaires in the World
10. Sam Zell
Net Worth: $4.8 billion
One of the pioneers of the real estate market, Sam Zell enjoys a net worth of $4.8 billion as of date. Sam Zell has been into business since he was a youngster. Although he belonged to a sound family, he preferred working hard to make money. He ranks 10th in the list of top real estate billionaires in the world.
Sam’s first venture was purchasing copies of the Playboy magazines in bulk and reselling them for profit. He also imported copies of the magazine in the surrounding areas. Sam calls this experience his first lesson on supply and demand.
In his university days, he started a new endeavor of offering student apartments to well-off students. Their first venture involved 15 houses. He spent a lot of time improving the distraught apartments and make them presentable to his customers. By the time he left the university, he had successfully refurbished 4,000 properties. Two years later, he was able to move forward.
Sam’s story of making larger profits started when he founded his first company, Equity Group Investment, in 1968. His strategy was to purchase undervalued and underrated land and properties in the USA. He would hold them for the long term to make a profit. The company soon expanded its ventures and become popular as Equity International.
Today, Sam Zell owns more than four public companies including the largest real estate residential REIT. Sam Zell is also famous for making the largest deal in the history of real estate back in 2007. He successfully sold his Equity Office to a private property giant, Blackstone in 2008. His REIT now competes with the likes of American Tower Corp, Simon Property Group Inc, CROWN CASTLE INTERNATIONAL and POLOGIS.
9. Stephen Ross
Net Worth: $7.6 billion
The next real estate tycoon on our list is Stephen Ross, whose net worth stands at $7.6 billion. He started as a developer of affordable housing but kept expanding his investment endeavors. Today, he is the owner of projects like Sunlife Stadium, Miami Dolphins, The Hard Rock Stadium, and The Related Companies. He ranks 10th in the list of richest people who made money investing in real estate. He ranks 9th in the list of top real estate billionaires in the world.
Ross also owns properties in Shanghai and Abu Dhabi. Moreover, he owns RSE Ventures and Kangaroo Media/FanVision. RSE Ventures is a private investment company that focuses on technology, media and marketing, sports and entertainment, and food & lifestyle.
8. Sun Hongbin
Net Worth: $9.2 billion
With an estimated net worth of $9.2 billion, Sun Hongbin secures the eighth position on our list of richest people who made money investing in real estate. More interested in making global investments, Sun Hongbin launched the biggest real estate developer company in China, Sunac China Holdings. He ranks 8th in the list of top real estate billionaires in the world.
Sunac China has an interesting history. It was started after Sun Hongbin lost his job with the famous Lenovo Company. For launching his firm, Sun Hongbin had to take a loan from Lenovo‘s founder, Liu Chuanzhi. Sun became really successful in his real estate endeavors and soon he listed Sunac with Hong Kong Stock Exchange.
Today, the company develops large to mid-scale building projects and controls the Wanda Group of Hotels. Sunac China Holdings is also investing in several entertainment projects internationally.
7. Donald Bren
Net Worth: $17 billion
The estimated net worth of Donald Bren is $17 billion. Working as a realtor, he invested in a company called Irvine that owned 93,000 acres of property in South Carolina. It was a joint venture that he started with his five partners. He owned more than 34 percent shares initially. But by the year 1996, he became the sole proprietor of the company. He purchased all the shares. He ranks 7th in the list of top real estate billionaires in the world.
In 1958, he requested a bank loan of $10,000 to launch his first company.
One of the most significant accomplishments of Donald Bren is the development of Orange County in the USA. He is praised for starting successful projects for the County.
Today, this real estate king controls 115 million square feet of property in South Carolina besides other properties. These properties include several marines, hotel chains, office buildings, golf courses, more than 30 shopping centers, and many apartment complexes.
Bren also owns a 97 percent share in the Met Life Manhattan building. Outside the USA, he has investment projects running in Spain and Mexico. The billionaire will continue to see his wealth grow as REITs including American Tower Corp, Simon Property Group Inc, CROWN CASTLE INTERNATIONAL and POLOGIS are seeing a strong rebound.
6. David & Simon Reuben
Net Worth: $16 – $18 billion
David and Siman Reuben are brothers. These UK-based real estate moguls made a fortune with good a strategy and smart work. Their estimated net worth is somewhere between $18 billion to $16 billion to date.
More than half of their assets are bonds and cash. The Bombay-born brothers have innumerable properties in London that are valued in hundreds of millions.
Initially, the duo invested in the metal and carpet business to save money. In the Russian metal market, they made significant profits that the Russians named them as ‘metal tsars’. However, when the Russian metal industry tanked, the brothers decided to sell out their assets to start real estate investments in London.
Today, the Reuben brothers own many notable properties including the Millbank Tower, the American Express offices, the John Lewis Partnership Cooperation in Victoria, and the Connaught House.
Outside of the UK, the Reuben Brothers have many business ventures in Europe. The billionaires will continue to see their wealth grow on the back of a rebound that is also boosting gains of stocks like American Tower Corp, Simon Property Group Inc, CROWN CASTLE INTERNATIONAL and POLOGIS.
5. Wang Jianlin
Net Worth: $20.2 billion
The Dalian Wanda Real Estate Group is considered one of the most popular companies in China. Wang Jianlin is the chairperson of this real estate giant. Besides real estate, his company invests in different industries including media, construction, entertainment, industrial manufacturing, hospitality, healthcare, sports, technology, and financial services.
Son of a foot soldier, Jianlin believes in hard work and discipline. Before becoming a small entrepreneur, he took his father’s profession but soon the army had to decommission him. Disappointed, he joined a public office but soon Wang Jianlin realized it was not for him.
In 1989, he was forced to live with his mother-in-law. He accepted a job at a debt-ridden real estate company after some months. With his sheer hard work, the indebted company made profits and soon after three years, Wang Jianlin was able to take over the firm as their CEO.
He started his prestigious company with a small investment of $80,000 in 1992. At that time, he did not know it would grow bigger and bigger with time. The self-made billionaire has an estimated net worth of $20.2 billion to date.
Wang Jianlin’s initial motive of investing in real estate was to make quick money. Later on, he decided to take it as his long-term endeavor.
Outside of China, Wang Jianlin’s company handles projects in Chicago, Sydney, London, and Madrid.
4. Prince Alwaleed Bin Talal Alsaud, Saudi Arabia
Net Worth: $22.7 billion
Who can forget the Middle East when it comes to business and money? The region is famous for its wealthy sheiks, skyscrapers, luxury construction projects, and of course, real estate developers.
One of the wealthiest real estate tycoons from Saudi Arabia is Prince Alwaleed Bin Talal Alsaud. His massive property portfolio enjoys a net worth of at least $22.7 billion.
The Prince controls a number of companies including the popular Kingdom Holding Company. The firm actively invests in real estate development, hotels, hospitality, retail, entertainment, petrochemical, aviation, tourism, and agriculture. The Saudi company’s most noticeable trading endeavors include Twitter, Snap, Lyft, and Citigroup.
According to Lamudi, the prince owns some of the world’s most luxurious hotels in Paris, London, and Saudi Arabia. That’s probably why the Times magazine calls him, ‘The Arabian Warren Buffett’.
The other investment endeavors of the Prince include Coca-Cola, Priceline.com, WorldCom, and Ford Motors Company. He is also a chief shareholder in all the notable companies in Africa, Middle East, and Europe. In 2018, his net worth was estimated at $37 billion which dropped after his arrest.
3. Yang Huiyan
Net Worth: $27 billion
Yang Huiyan inherited property from her late billionaire father. She is considered the wealthiest woman in the entire Asian region with an estimated net worth of around $27 billion in 2018. She ranks 3rd in our list of top real estate billionaires.
Yang’s company, Country Garden Holdings, enjoys an international repute, mainly in Australia and Malaysia. The most popular project of Country Garden Holdings is the Forest City. It is a major investment as the project needs $100 billion to complete successfully.
Yang has shown great business skills as a real estate developer. She has been actively contributing to the Country Garden Holdings since she was 20. In 2018, her wealth multiplied within days, thanks to the surge in her company’s shares. It is said that she made $2 billion within some weeks. The achievement ranked her as the top fourth billionaire of the year.
Yang is also the head of a well-known Chinese training and development company, Bright Scholar Education Holdings. Her father was a self-made estate agent. He did not have money to pay his university expenses. He worked hard to make his name in the property business. Today, his family enjoys what their father left for them.
2. Hui Ka Yan
Net Worth: $26.8 billion
Hui Ka Yan is a Chinese real estate tycoon with an estimated net worth of more than $26.8 billion. His company, Evergrande Real Estate, is listed as one of the best firms in the real estate landscape. The company develops commercial, residential, and hotel projects internationally. He ranks 2nd in our list of top real estate billionaires.
Besides Evergrande, Hui Ka Yan also controls Wuyang Iron & Steel Cooperation, Guangzhou Pengda Group Limited and many more. What is more interesting about Hui Ka Yan is that he is a teacher-turned- real estate agent. He has proved that teachers can make great estate developers.
In 1982, Hui obtained his degree in metallurgy and became a university professor. But his interest in real estate compelled him to start a new property endeavor because of his strong management skills. Initially, people underestimated his abilities as a real estate developer. Today, however, Hui Ka Yan has become a synonym with real estate success in China.
Evergrande is currently running 740 projects in China. Some of these endeavors include Evergreen Oasis Wuhai, Inner Mongolia, and Evergreen Spring City Enping, Guangdong and Ocean Flower Island, Hainan. Hui is also a successful investor in Hong Kong and Australia.
Apart from his interest in proprietorship, Hui has a keen interest in sports. He has a soccer team, a professional football club.
1. Lee Shau Kee
Net Worth: $32.3 billion
Forbes Asia calls Lee Shau Kee Hong Kong’s wealthiest person. In 2021, his net worth is estimated at $32.3 billion. Lee runs many hotel chains, cafes, and internet services. However, his property conglomerate, Henderson Land Development, constitutes a major part of his wealth.
The two most noteworthy building projects developed by the Henderson Land Development include the International Commerce Center and the International Finance Center in Hong Kong.
Lee grew up as a poor man who could hardly afford to eat meat twice a month. Today, the world calls him “Hong Kong’s Buffett”. He also made huge profits through his stock investment endeavors in China.
In 1976, he founded his real estate development company, Henderson. Since then, the company earned him name and money. However, Lee also had to face a temporary downfall in 2019 after he shared his chairmanship with his sons, Peter and Martin.
Lee is an active businessman with multiple investment projects. For instance, he heads the Miramar Hotel and Investment, The Hong Kong and China Gas Company, and Sun Hung Kai Properties Limited. Moreover, he is a strong stakeholder of The Hong Kong Ferry (Holdings) Limited and the Bank of East Asia Limited.
You can also take a peek at George Soros’ Top 10 Stock Picks and 15 Most Valuable Cloud Computing Companies.
Follow Insider Monkey on Twitter
Suggested articles:
This article is originally published at Insider Monkey.