Tag: estate

The incredible rise of billionaire Donald Bren, the richest real estate developer in America

Donald Bren

California native Donald Bren is the wealthiest real estate developer in America, according to our list of the 50 richest people on earth, produced in collaboration with Wealth-X.

The mogul has an estimated net worth of $17 billion that comes primarily from his development and property investments in Southern California.

Bren’s privately-held real estate investment company, Irvine Company, has a portfolio of properties that exceeds 110 million square feet and includes office buildings, apartments, marinas, and hotels, most of which is located in picturesque Orange County.

At 83 years old, the former US Marine is still running the show as chairman of Irvine Company — here’s the story behind his success.

SEE ALSO: The 29 richest people in America

AND: How IKEA creator Ingvar Kamprad built the world’s largest furniture retailer — and a $39 billion fortune

Donald Bren was born in Los Angeles in 1932. His father, a movie producer, and his mother, a patron of the performing arts, divorced when he was 10. His father remarried to an actress and his mother to a well-off industrialist.

Sources: Wealth-XFortune

Bren and his brother attended Beverly Hills High School and spent their summers working as carpenters for their dad’s real estate development business. A key lesson he learned from his father: “When you hold property over the long term, you’re able to create better values and you have something tangible to show for it,” Bren told the Los Angeles Times in 2011.

Sources: Fortune, Los Angeles Times

 

Bren earned a partial athletic scholarship to the University of Washington for skiing. He was reportedly a stylish skier and an avid competitor who was set to go to the 1956 Olympics but couldn’t participate because of a broken ankle.

Source: Fortune

See the rest of the story at Business Insider

Read More

186: Reliable Real Estate: Why The Super-Rich Are Investing In Properties

Interested in being super-rich? Are you sick of having red and green days on the stock market rollercoaster?

​Get in the zone of wealth as ​Grant Cardone reveals his secret to long-term wealth in three simple words: Income Producing Properties.

​With over ​​$350 million dollars worth of real estate in his portfolio, Grant discusses three reasons why these properties are smart investments:

-Dependable income stream

-Can multiply the asset value through leverage

-It creates multiple cash flow with low cost of debt

Listen to ​Grant explain why you need the bank​, ​break down all the numbers​, t​ell you where to start​, ​how much you need to get started​ and more….​

Your dependable income stream can start today!

Read More
Loading