Sam Zell
From Wikipedia, the free encyclopedia
 |
This article documents a current event. Information may change rapidly as the event progresses. |
 |
This April 2007 needs copy editing for grammar, style, cohesion, tone and/or spelling. You can assist by editing it now. A how-to guide is available, as is general documentation. This article has been tagged since April 2007. |
| Born: | September, 1941 Chicago, Illinois |
|---|---|
| Occupation: | Chairman, Equity International |
| Net worth: | US$4.5 billion (2006)[1] |
| Website: | Equity International |
Samuel "Sam" Zell (born September 1941) is a U.S. born billionaire and real estate entrepreneur. He is co-founder and Chairman of Equity International, a real estate private equity firm. With an estimated net worth of US$4.5 billion, he is ranked as the 52nd richest American by Forbes.[1] In March 2007, Zell bought Tribune Corporation, publisher of the Los Angeles Times and owner of the Chicago Cubs
Contents |
[edit] Early life
Zell was born in Chicago in 1941 to Jewish immigrant parents from Poland who fled the country just before the Nazi invasion in 1939. Shortly after moving from Seattle to Chicago, Zell's father Bernard changed the family name from Zielonka to Zell [2]. He received his BA (1963) from the University of Michigan, where he was a member of the Alpha Epsilon Pi fraternity, and his JD (1966) from the University of Michigan Law School.[3]
[edit] Real estate business
Zell, with the late Robert Lurie went on to found the Equity Group Investments, LLC, which spawned three real estate public companies, including: Equity Residential, the largest apartment owner in the United States; Equity Office Properties, the largest office owner in the country; and Manufactured Home Communities, a mobile home company. In addition, Zell has created a number of public and private companies.
Zell is also Chairman of Capital Trust Inc., a finance and investment management company focused on the commercial real estate industry, and Anixter International, the world's largest distributor of communication products and electrical and electronic wire and cable.
Recently, the Blackstone Group completed its purchase of Zell's Equity Office Properties Trust for $39 billion [4].
[edit] Media investments
On April 2, 2007, the Tribune Company announced their acceptance of Zell's offer to buy the Chicago Tribune, the Los Angeles Times, and other media assets. Zell will reportedly take the company private, sell off the Chicago Cubs after the 2007 season, and sell the company's 25 percent interest in Comcast SportsNet Chicago. Up until the time of shareholder approval, Los Angeles billionaires Ron Burkle and Eli Broad may submit a higher bid in which case Zell would receive a $25 million buyout fee.[5].
[edit] Philanthropy
A long-time supporter of the Wharton School of the University of Pennsylvania, he helped fund the Real Estate Department at Wharton, as well as the Zell-Lurie Institute at the University of Michigan. Zell also endowed the Zell Center for Risk Research at the Kellogg School of Management at Northwestern University, and the Samuel Zell and Robert Lurie Real Estate Center at the Wharton School.
[edit] Political patronage
Zell has donated to both Republican and Democratic candidates – with more money going to the former – as well as to lobbying groups representing the real estate industry. According to an analysis of Federal Election Commission records by the Center for Public Integrity, "Zell has given more than $100,000 in political contributions since the 1998 election cycle, most of it supporting Republican causes."[6]
He is also believed to be a strong supporter of Israel[citation needed] as well as a major contributor to the American Israel Public Affairs Committee (AIPAC).
[edit] References
- ^ a b The 400 Richest Americans. Forbes (2006-09-21). Retrieved on April 3, 2007.
- ^ Katharine Q. Seelye, Terry Pristin (2007-03-25). Sam Zell, the 'grave dancer,' sees profit in newspapers. International Herald Tribune. Retrieved on April 3, 2007.
- ^ Billionaire Investor Sam Zell at Glance. Associated Press (2006-09-21). Retrieved on April 4, 2007.
- ^ Wilson, David (2007-02-08). Blackstone's Costly Buyout, Navistar's Listing. Bloomberg. Retrieved on April 5, 2007.
- ^ Oneal, Michael (2007-04-02). Zell Wins Tribune Auction; Cubs to be Sold. Chicago Tribune. Retrieved on April 3, 2007.
- ^ "In Political Contribution, Zell Leans Right and Wife Leans Left", Center for Public Integrity, April 4, 2007. (in English)
[edit] External links
- Sam Zell Biography
- The Zell Lurie Institute: The University of Michigan
- The Samuel Zell and Robert Lurie Real Estate Center at Wharton
- The Zell entrepreneurship program at the Interdisciplinary Center, in Israel
Categories: Current events | Wikipedia articles needing copy edit from April 2007 | All articles needing copy edit | Articles with unsourced statements since April 2007 | All articles with unsourced statements | 1941 births | Living people | American billionaires | American philanthropists | Newspaper publishers (people) | People from Chicago | Real estate magnates | University of Michigan alumni | University of Michigan Law School alumni
