Published on March 26 2014
Alfred Taubman Net Worth: $2.8 Billion
Alfred Taubman is an American real estate mogul and philanthropist. He was the pioneer of the modern shopping mall concept, and became incredibly wealthy developing upscale shopping centers. At one point CBS News described him as a “Legend in Retailing”. He is the owner of Taubman Centers, a $7 billion shopping mall REIT. According to a recent survey by Forbes, Taubman had an estimated net worth of $2.8 billion as of March 2014. His fortune slid after the shares of Taubman Centers fell 15 per cent.
Taubman was born on 31st January, 1924 in Pontiac, Michigan to a Jewish family. His parents were unfortunate to lose everything in the Depression of the 1930s, which left Taubman with no other choice but to seek employment in order to support his family. His business acumen and hard work paid off. In 1982, he acquired A&W Restaurants, but later sold the establishment in 1994. Taubman remained the majority owner of the Michigan Panthers of the United States Football League from 1983 to 1984.
Taubman also joins the list of billionaires who have made hefty contributions in support of various worthy causes. In 2011, he made a donation of $56 million to medical research. He is also considered to be one of the largest individual donors in the history of the University of Michigan as he has donated more than $114 million to the institution. Taubman is married to Judith Mazor Rounick, whom he married in 1982. Taubman has three children with his previous wife and two step children with Rounick.