Herbert Simon Net Worth : $2.1 Billion
Herbert Simon is an American real estate mogul and investor. He is the owner of the Indiana Pacers of the NBA, which he purchased alongside his brother, Mel, in 1983. Simon is also the owner of Indiana Fever of the WNBA, and also has a stake in the Reno Aces, which is a minor league baseball team. He serves as the Chairman emeritus of the Simon Property Group, which is mainly focused in the development of shopping malls.
Simon Property Group operates from 5 retail real estate platforms, which are Premium Outlet Centers, Regional Malls, International Properties, lifestyle/community centers and The Mills. Today, Simon’s net worth is estimated to be $2.1 billion (as of March 2014), and he has been ranked by Forbes Magazine as the 300th richest person in the United States and the 868th richest person in the world.
Simon was born on 20th October, 1934 in Williamsburg, Brooklyn to Jewish parents. He later attended the City College of New York. In 1960, he co-founded the precursor of Simon Property Group, which was known as Melvin Simon and Associates. The group would later become the world largest REIT, and it currently spans about 242 million sq. ft across Asia, Europe and America. While Simon serves as the chairman of the group, his nephew, David, has been serving as its Chief Executive Officer since the year 1995. In the year 2010, he acquired Kirkus Reviews, an American book review magazine that was founded in 1933.
This 79-year old self-made billionaire has been married 3 times. He had two children with his first wife, but later got divorced. He married his second wife, Diane Meyer, a political staffer for Birch Bayh, in 1981. The two were blessed with three children: Sarah Elisabeth Meyer Simon (who is a New York-based investor), Rachel Mariam Meyer Simon (an artist and philanthropist) and Asher Benjamin Meyer Simon (a Los Angeles-based artist). Diane Meyer was previously married to the then Deputy Secretary of the State of Indiana, N. Stuart Grauel.
In 2002, Simon married his 3rd wife, Porntip Bui Nakhirunkanok, the former Miss Universe from Thailand. The two have 2 biological children and three adopted children from Porntip’s deceased sister, bringing the total of Simon’s children to 10. Simon also has a number of grandchildren, and he currently resides in Indianapolis, Indiana with his wife, Porntip.