Richard LeFrak Net Worth

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Table: Richard LeFrak Net Worth

CategoryInformation
Net Worth$5.8 billion
SalaryN/A
Birthdate1945
BirthplaceNew York, New York
GenderMale
HeightN/A
ProfessionChairman and CEO of LeFrak, Real Estate Developer
NationalityAmerican

What is Richard LeFrak’s Net Worth?

Richard LeFrak is an American billionaire with a net worth of $5.8 billion. He is the Chairman and CEO of LeFrak, a real estate development company that has been owned and operated by the LeFrak family for over a century. The LeFrak Organization was founded in France in 1883 by Richard LeFrak’s great grandfather, Maurice. Richard’s grandfather, Harry, took over the company and began developing properties in 1901, further expanding the company’s operations. Richard joined the LeFrak Organization in 1968 and assumed the role of President in 1975. After his father’s death in 2003, he was elected Chairman and CEO, successfully managing the company’s real estate portfolio, which includes major development projects in Battery Park City, LeFrak City in Queens, and Newport, Jersey City.

Highlights

– Richard LeFrak’s net worth is $5.8 billion.
– He serves as the Chairman and CEO of LeFrak, a prominent real estate development company.
– The LeFrak Organization has been operated by the LeFrak family for over a century.
– Richard has successfully managed the company’s real estate portfolio, including major projects in Battery Park City, LeFrak City, and Newport.
– He is an active supporter of charities, heading the Richard S. and Karen LeFrak Charitable Foundation.

Early Life

Richard LeFrak was born in 1945 in New York, New York. He comes from a family that has been involved in real estate for generations. The LeFrak Organization was founded by his great grandfather, Maurice LeFrak, in France in 1883. Richard’s grandfather, Harry, took over the company and began developing properties in 1901. Richard’s father, Samuel, expanded the company’s operations even further, establishing it as a leading player in property ownership, development, and management in the United States.

Career

Richard LeFrak began his career in the LeFrak Organization in 1968 after graduating from Colombia University. He quickly rose through the ranks and was appointed President in 1975. Following his father’s passing in 2003, Richard became the Chairman and CEO of the company. Under his leadership, LeFrak continued to flourish and became known for its major development projects in Battery Park City, LeFrak City in Queens, and Newport, Jersey City.

Personal Life

Aside from his successful career in real estate, Richard LeFrak is also known for his philanthropic endeavors. He presides over the Richard S. and Karen LeFrak Charitable Foundation, which supports various charitable organizations. Richard’s dedication to making a positive impact extends beyond his business ventures.

Net Worth Over Time

Richard LeFrak’s net worth has grown significantly over the years. With a current net worth of $5.8 billion, he has amassed substantial wealth through his involvement in the real estate industry. The LeFrak Organization’s success and Richard’s leadership have contributed to his impressive financial standing.

Components of Net Worth

Richard LeFrak’s net worth primarily stems from his ownership and leadership position in LeFrak, the esteemed real estate development company. The value of LeFrak’s extensive real estate portfolio, including properties in Battery Park City, LeFrak City, and Newport, greatly contributes to his net worth. Additionally, the LeFrak family’s long-standing involvement in the industry and their ability to develop and manage properties successfully have played a significant role in the accumulation of Richard’s wealth.

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