Herbert ‘Herb’ Simon was born on the 23rd October 1934, in New York City, USA, and is a businessman and real estate developer, probably best recognized for being the Chairman of Simon Property Group. He is also known as the owner of the National Basketball Association’s (NBA) Indiana Pacers, and the Women’s NBA Indiana Fever.
So, have you ever wondered how rich Herbert Simon is, as of late 2017? According to authoritative sources, it has been estimated that Simon counts the total size of his net worth at the impressive amount of $2.9 billion, accumulated not only through his successful involvement in the business industry, but also through his ownership of two basketball teams.
Herbert Simon Net Worth $2.9 Billion
Herbert Simon hails from a Jewish family, and spent one part of his childhood in Williamsburg, Brooklyn, and the other part in the Bronx, where he was raised with his brother by his father, Max Simon, who worked as a tailor, and his mother, Mae Simon, who was a housewife; he is the brother of the late Melvin Simon, who was known as a businessman as well. Upon matriculation, he enrolled at The City College of New York, from which he graduated with a BBA degree in Business.
Right after graduation, Simon began to pursue his career in the real estate development industry, and he co-founded Melvin Simon & Associates, alongside his brother Melvin, in 1960. This marked the beginning of an increase of his net worth. Afterwards, this company became the Simon Property Group, a commercial real estate company which operates as a shopping mall developer. It soon became one of the largest Real Estate Investment Trust (REIT) companies in the world, which added a considerable amount to Simon’s net worth as well as his popularity. The company operates not only in America, but also in Europe and Asia, where it has more than 80 mall outlets. He serves in the company as the Chairman Emeritus, while the son of his brother Melvin has been in the position of the CEO since 1995.
Apart from his career in the business, Simon is also involved in the sports industry. He bought with his brother the Indiana Pacers of the NBA in 1983, and now he is the only owner, as his brother passed away in 2009. Moreover, he is also the owner of the Indiana Fever of the WNBA, which also increased his net worth by a large margin.
To speak further about Simon’s career, he is also known for serving on the board of the Cheesecake Factory, which has also contributed to his wealth.
When it comes to speak about his personal life, Herbert Simon has been married to Porntip Bui Nakhirunkanok, who was the 1988 Miss Universe, since 2002; the couple has two children together, and teyave adopted three children of her sister after when she passed away. He was previously married to Sheila Simon, with whom he has two children – one of them is Stephen Howard Simon, a founder of Simon Equity, LLC, and from 1981 to 2000, he was married to Diane Meyer, with whom he has three children. His current residence is in Indianapolis, Indiana.
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