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Sam Zell
From Wikipedia, the free encyclopedia
| Samuel Zell | |
|---|---|
| Born | September, 1941 Chicago, Illinois |
| Occupation | Chairman of Tribune Company and Equity Group Investments |
| Net worth | US$6.0 billion (2006)[1] |
Samuel "Sam" Zell (born September 1941) is a U.S.-born billionaire and real estate entrepreneur. He is co-founder and Chairman of Equity Group Investments, a private investment firm. With an estimated net worth of US$6 billion, he is ranked as the 52nd richest American by Forbes.[1] On April 2, 2007, Zell bought Tribune Corporation, publisher of the Los Angeles Times, the Chicago Tribune, New York Newsday and owner of the Chicago Cubs. The deal is scheduled to close December 20, 2007. At that time Zell will become Chairman of the Tribune Company.
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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. He also received his JD (1966) from the University of Michigan Law School.[3]
Zell, with 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. He also controls SZ Investments LLC as his investment arm.
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] and sold off many of the portfolio's properties for record amounts.[5]
See Jacor 1992-1999. Successful radio broadcast group that included a television station. Sold to Clear Channel Communications in 1999.
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 reportedly will 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. Pending 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.[6] Since the Zell announcement, David Geffen announced that he is still interested in acquiring the Los Angeles Times. Zell is expected to close on the Tribune Company in late 2007 and at that time will become Chairman.
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 Ross School of Business at 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. Zell has also donated significantly to his alma mater, the University of Michigan.
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."[7]
- ^ a b The 400 Richest Americans. Forbes (2007-09-20). Retrieved on 2007-09-25.
- ^ Katharine Q. Seelye, Terry Pristin (2007-03-25). Sam Zell, the 'grave dancer,' sees profit in newspapers. International Herald Tribune. Retrieved on 2007-04-03.
- ^ Billionaire Investor Sam Zell at Glance. Associated Press (2006-09-21). Retrieved on 2007-04-04.
- ^ Wilson, David (2007-02-08). Blackstone's Costly Buyout, Navistar's Listing. Bloomberg. Retrieved on 2007-04-05.
- ^ The Equity Office Triple Flips. Wall Street Journal.
- ^ Oneal, Michael (2007-04-02). Zell Wins Tribune Auction; Cubs to be Sold. Chicago Tribune. Retrieved on 2007-04-03.
- ^ McGarry, Brendan; Welsh, Ben. "In Political Contribution, Zell Leans Right and Wife Leans Left", Center for Public Integrity, April 4, 2007. (English)
- Sam Zell Biography
- The Zell Center for Risk Research at the Kellogg School of Management
- 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
- Detailed list of Zell's federal campaign contributions since 1979
- Zell's Year End Gift
- Zell's Impressive Corporate Network
Categories: 1941 births | Living people | Jewish businesspeople | Businesspeople in real estate | American newspaper publishers (people) of the 21st century | American billionaires | American philanthropists | People from Chicago | University of Michigan alumni | University of Michigan Law School alumni | American Jews