Real Estate Billionaires

Billionaire Real Estate Tycoons: Billionaires that have made their fortunes through Real Estate -

01) Paul Milstein & family
       Net Worth: $4.5 billion -

Father, Morris, founded Circle Floor Co. 1919, laid hardwood floors and carpeting for Rockefeller Center, Madison Square Garden. With brother Seymour (d. 2001), took over business. Sold 1960s; built New York real estate empire with profits. Today Milstein Properties owns apartment towers from Battery Park City to the Upper East Side, offices in Midtown, numerous undeveloped lots across Manhattan. Acquired New York's oldest savings bank, Emigrant, for $90 million 1986; assets now $14 billion. Launched Internet banking arm 2 years ago; today holds $9 billion in deposits. Son Howard oversees real estate and banking operations. Recently purchased a $145 million stake in Jack Nicklaus' golf course and equipment design company.

02) Stephen Ross
      Net Worth: $4.5 billion -

Nephew of late Forbes 400 member Max Fisher (d. 2005) founded real estate outfit Related Companies 1972. Initially focused on building, financing low-income housing; moved into riskier luxury buildings in New York. Nearly went bankrupt early 1990s, recovered; today company has developed more than $16 billion worth of property across the U.S., including Manhattan's massive Time Warner (nyse: TWX - news - people ) Center. Met Jorge Perez (see); duo made billions developing Florida condos. Partnership continues via Perez's condo and hotel projects in Latin America. Recently purchased Virgin Megastores North America from British billionaire Richard Branson. Bidding for rights to run Aqueduct, Belmont, Saratoga racetracks. Became chairman of powerful Real Estate Board of New York in January.

03) Matthew Bucksbaum & family
      Net Worth: $3.3 billion -

Grocer's son developed first shopping center in Cedar Rapids, Iowa 1954 with his 2 brothers. Took General Management public in 1970; real estate investment trust liquidated 15 years later for 100% profit. Relocated to Chicago after brother Martin died 1995, renamed company General Growth Properties. Remains chairman; son, John, took reins 1999. Today nation's second-largest REIT owns 200 million square feet across 194 malls and planned communities in 44 states; shares up 17% in past 12 months. Company recently gave health insurance, higher wages to shopping center janitors.

04) Richard LeFrak 
     Net Worth: $3.0 billion -

Grandfather Harry started developing New York City real estate 1901. Father, Sam, became paragon of mass-market home building: "I produced an apartment every 16 minutes." Richard studied at Amherst College, joined family business early 1970s; became chairman after dad died in 2003. Now runs company with 2 sons, Harrison and Jamie. Portfolio includes 5,000 apartments at LeFrak City in Queens, N.Y., 7-million-square-foot-commercial, residential, retail complex in Newport, N.J. Expanding Newport project; $10 billion "mini-city" will soon include a new office tower, 429-room Westin hotel and 4,500 more apartments and condos. On board of the American Museum of Natural History.

05) John Sobrato & family
      Net Worth: $3.0 billion -

Sold houses as a student at Santa Clara U. Expanded into commercial real estate 1960s. Built portfolio erecting campuses for tech titans Apple (nasdaq: AAPL - news - people ) and Yahoo (nasdaq: YHOO - news - people ). Today Sobrato Development owns and manages 100 buildings in Silicon Valley, 8.5 million square feet of commercial space, 8,500 residential units; another 400 acres ready for development. Increased demand for prime office space, rising rents pushing up profits as tech companies expand. Tax-efficient philanthropy: donates buildings, office parks to foundations to sell or use.

06) Donald Trump
     Net Worth: $3.0 billion -

Son of Brooklyn developer borrowed heavily, built big, lived large, became a billionaire during 1980s. Eviscerated in 1990 real estate crash; stayed flamboyant, embraced reality TV. Now other builders pay him millions to license "Trump" brand. Despite looming housing woes, the Donald's retail, office and hotel business is up. Recently signed Gucci in record lease in New York's Trump Tower; Trump Chicago hotel opens December. Annually disputes FORBES' net worth estimate: "I'm worth $7 billion."

07) Theodore Lerner
      Net Worth: $2.5 billion -

Borrowed $300 from wife, founded real estate developer Lerner Enterprises in 1952. Made fortune building massive shopping malls in the suburbs of Washington, D.C.: Tysons Corner Center, Tysons II, Wheaton Plaza, Landover Mall, Dulles Town Center, White Flint. Today owns millions of square feet of commercial and retail property, thousands of apartments. Focused on new developments near area's Dulles airport and Tysons II. Going green: buying wind power tax credits for new projects. Owns pro baseball's Washington Nationals; runs franchise with son and 2 sons-in-law, spending millions to develop team's farm system.

08) Mortimer Zuckerman
      Net Worth: $2.4 billion -

Son of Montreal tobacco and candy wholesaler studied at Harvard, then Wharton M.B.A. Cofounded Boston Properties (nyse: BXP - news - people ) with Edward Linde 1970, took public 1997. Shares up 400% since offering. Today portfolio includes 135 commercial buildings: offices, hotels, retail. Sold 5 Times Square office tower for $1.3 billion last November. Also invested in media: owns U.S. News & World Report, New York's Daily News. "I've been a news junkie since I was 13 years old." Unrest: university presidents demanding changes to U.S. News' famed college rankings. Memorial Sloan-Kettering Cancer Center in Manhattan opened a new research center funded with $100 million endowment from Zuckerman in February. Frequent panelist on Sunday morning chatfest The McLaughlin Group.