By Florence Gaitho on March 19 2014
Ted Lerner Net Worth: $4 2 Billion
Theodore “Ted” Lerner is an American businessman and real estate magnate. He is the sole founder of Lerner Enterprises, which is the largest private landowner in the Washington DC area. The company has a extensive portfolio of residential, retail, hotel and commercial properties.
Lerner is also the majority owner of the Washington Nationals baseball team. This self-made billionaire has an estimated net worth of $4.2 billion, making him one of the wealthiest people in the United States.
Lerner was born on 15th October, 1925 in Chevy Chase, Maryland. After graduating from high school in 1944, he joined the U.S. Army, where he served as a typist during the end of World War II. He later joined George Washington University, where he obtained an Associate of Arts.
In 1949, he graduated from the George Washington University Law School with a L.L.B. While still in law school, Lerner spent his weekends selling homes. It was in 1952 that he decided to venture fully in to the real estate business. He borrowed a loan of $250 from his wife to start his own company, Lerner Enterprises.
Throughout the D.C. suburbs, Lerner developed lands by building shopping malls. Lerner now owns 20 million square feet of retail and commercial spaces plus hotels, and 7,000 apartments. The 89-year old billionaire is married to Annette M. Lerner, with whom he has three children – Mark D. Lerner, Debra Lerner Cohen and Maria Lerner Tanenbaum.