Photo:
Courtesy of Ted Lerner
Ted Lerner borrowed $250 from his wife in 1952 with a plan to start a real estate company. With that seed money, Lerner built a portfolio that now includes more than 20M SF of commercial and retail space and over 7,000 apartments, mostly in the Washington, D.C., region, with an emphasis on the Tysons area of Northern Virginia.
Lerner was at the forefront of the mall boom in America, building some of the first regional malls in the Washington suburbs.
Lerner bought the Montreal Expos from Major League Baseball in 2006, moving them to his hometown and creating the Washington Nationals. He and his wife Annette are active philanthropists, and their foundation funds a variety of causes in healthcare, the arts and education. — Scott Klocksin
Next Richest in Real Estate
$3.9B
Jerry Speyer & Katherine Farley
Tishman Speyer Co-Founder and Former Senior Managing Director
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