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Sam Zell

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philanthropy2 years ago

Sam Zell: Billionaire Businessman and Philanthropist Dies at 81.

Sam Zell, a real estate tycoon and philanthropist, passed away at the age of 81. Zell, through his philanthropic Zell Family Foundation, donated millions annually to nonprofits, schools, and organizations throughout the Chicago area, with a strong commitment to the city's arts scene and education, including large donations to Jewish schools. The foundation reported $279 million in total assets in its 2020 tax filings, and donated more than $55 million to Chicago organizations and causes that year, including the Chicago Symphony Orchestra, Museum of Contemporary Art Chicago, and Steppenwolf Theatre Company.

via Crain's Chicago Business|
#arts#chicago#education
business2 years ago

Real estate tycoon Sam Zell passes away at 81.

Sam Zell, the real estate tycoon who led Tribune Co. to bankruptcy, died at 81. Known as the Grave Dancer, he made his fortune buying financially distressed properties and raising rents after fixing them up. His $8.2 billion leveraged buyout of the Tribune Co. was riddled by mismanagement, allegations of sexual harassment, and financial calamity that ultimately sent the company into bankruptcy. Mr. Zell only put up $315 million of his own money, covering the rest of the buyout in a complicated debt scheme that collapsed during the Great Recession of 2008.

via The Washington Post|
#bankruptcy#business#mismanagement
business2 years ago

Real estate tycoon Sam Zell passes away at 81.

Sam Zell, the billionaire real estate investor and founder of Equity Group Investments, has died at the age of 81 due to complications from a recent illness. Zell was known for his blunt personality and his success in real estate, as well as his philanthropic efforts. He popularized the concept of real estate investment trusts and founded companies such as Equity Residential and Equity LifeStyle Properties. While most of his deals were successful, his reputation suffered after the high-profile failure of his debt-fueled agreement to buy Tribune Co. Zell is survived by his third wife, three children, two sisters, and nine grandchildren.

via Chicago Sun-Times|
#business#chicago#equity-group-investments
obituary2 years ago

Billionaire newspaper mogul Sam Zell dies at 81.

Sam Zell, the real estate tycoon who acquired The Chicago Tribune, The Los Angeles Times, and other newspapers in a widely criticized leveraged buyout of the parent Tribune Company in 2007, died on Thursday at the age of 81. His venture into the publishing world proved to be a resounding failure, a five-year descent into a maelstrom of rancor, downsizing, management scandals, and bankruptcy.

via The New York Times|
#bankruptcy#leveraged-buyout#obituary
obituary2 years ago

Billionaire Sam Zell passes away at 81.

Sam Zell, a prominent US property investor known for his contrarian bets and his role in the creation of the modern real estate investment trust, has died at the age of 81. Zell was a billionaire who made his fortune through savvy investments in distressed real estate assets. He was also a philanthropist and a major donor to the University of Michigan, his alma mater.

via Financial Times|
#death#legacy#obituary
business2 years ago

Controversial Business Tycoon Sam Zell Passes Away.

Sam Zell, the billionaire investor who made his fortune by resurrecting troubled businesses, has died at the age of 81. Zell, who was known as "the Grave Dancer," acquired the Tribune Co. in 2007, which included the Los Angeles Times and the Chicago Tribune. However, less than a year later, Tribune collapsed in what was then the largest bankruptcy in American media history. Zell lost $315 million but retained his famous swagger. He was admired for his uncanny sense of when to buy and when to sell, particularly in the real estate industry.

via Los Angeles Times|
#bankruptcy#business#media
business2 years ago

Billionaire real estate investor Sam Zell passes away.

Sam Zell, a billionaire real estate investor known as "the grave dancer" for his ability to revive moribund properties, has died at the age of 81 due to complications from a recent illness. Zell had a golden touch with real estate and got his start managing apartment buildings as a college student. He had amassed a fortune estimated at $3.8 billion and sold Equity Office, the office-tower company he spent three decades building, to Blackstone Group for $39 billion in 2007. Zell was fiercely protective of his personal life and is survived by his wife, children, and grandchildren.

via ABC News|
#billionaire#business#equity-group-investments
business2 years ago

Billionaire real estate investor Sam Zell passes away.

Sam Zell, a billionaire real estate investor known as "the grave dancer" for his ability to revive struggling properties, has died at the age of 81 due to complications from a recent illness. Zell amassed a fortune of $3.8 billion through his real estate investments, including the sale of Equity Office to Blackstone Group for $39 billion in 2007. He also co-founded the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan's Ross School of Business. Zell was fiercely protective of his personal life and is survived by his wife, three children, and nine grandchildren.

via CNBC|
#blackstone-group#business#entrepreneurship
business2 years ago

Real Estate Mogul Sam Zell Passes Away at 81.

Sam Zell, a legendary real estate investor and founder of Equity Residential, has died at 81. Zell was known for his appetite for buying distressed real estate for a profit and is credited with popularizing the real estate investment trust. He founded the predecessor company to Equity Residential while a student at the University of Michigan and built a net worth of $5.2 billion, according to Forbes.

via MarketWatch|
#business#distressed-properties#equity-residential
business2 years ago

Billionaire Real Estate Mogul Sam Zell Passes Away at 81.

Sam Zell, the real estate investor and founder of Equity Residential, has died at the age of 81. Zell was known for his ability to acquire distressed real estate and build an empire of apartment buildings, offices, and mobile homes. He got his start in real estate while managing apartments in college and eventually began buying properties himself.

via The Real Deal|
#business#entrepreneurship#equity-residential