They know where to ‘land’!

IIPM PUBLICATION

If I could live all over again, I would buy every square inch of Manhattan”, famous words from one of the first real estate mogul John Jacob Astor, the man who envisaged in the 1830s that New York will soon be world’s greatest cities, hold right for every tycoon in the business today. Be it Astors, Roosevelts, Beekmans and Rockfellers of early 19th century who withdrew money from their core businesses to cash in on the boom in real estate or John Tishman & Joseph Durst (he is known to have started with just $3 at the turn of the 20th century and today ranks amongst the largest developers in New York) – all started with almost nowhere and amassed big fortunes, becoming the top real estate families in the world.

Donald J. Trump’s brush with bankruptcy in the early 1990s (when two thirds of his net worth got eroded and he was in debt for almost $2 billion) is anything but forgotten. But by the year 2000, he rebounded and today his worth is over three billion dollars. And arguably, he is one of the top most real estate investors in the world. Tom Barrack, Sam Zell & Li Ka-shing, Chairman of Hutchison Whampoa have also become the stuff for legends with their daring travails...

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative