According to Andrew Carnegie, real estate investment accounted for 90% of all millionaires’ fortunes. We concur with this assertion. Property ownership is a one-time investment strategy. The property’s price and value improve with time. The rented property also yields a large annual profit because its value rises each year. Despite the dire economic situation, real estate sales quickly recovered after a few months. House buying activity has returned to normal, according to the Michigan Survey of Consumers. Major real estate stocks are currently trading in the red, indicating that the real estate sector is on the mend.
Insider Monkey highlights the Top Real Estate Billionaires in the World. Sam Zell is regarded as one of the real estate industry’s forefathers. He owns more than four public companies, including the largest residential REIT in the United States. When Zell sold his Equity Office to Blackstone, a private property giant, in 2007, he made the largest real estate deal in history. He is ranked 10th among the world’s top real estate billionaires. Stephen Ross began his career as an affordable housing developer, but he quickly expanded his investment portfolio. Sunlife Stadium, the Miami Dolphins, The Hard Rock Stadium, and The Related Companies are among his many projects. He is ranked 10th on Forbes’ list of the wealthiest real estate investors. Sun Hongbin founded Sunac China Holdings, China’s largest real estate developer. The Wanda Group of Hotels is under the control of the company, which develops large to mid-scale building projects. Sun is the world’s eighth-richest real estate billionaire. In South Carolina, Donald Bren owns 115 million square feet of land. Bren also owns 97 percent of the Met Life building in Manhattan. In 1958, he applied for a $10,000 bank loan to start his first business. Bren is credited with launching successful projects in Orange County, California. The Bombay-born brothers, David and Siman Reuben, own a slew of London properties worth hundreds of millions of pounds. Bonds and cash account for more than half of their assets. To save money, the two initially invested in the metal and carpet industries. The billionaires’ fortunes will continue to rise as the economy improves. For more details, click Top 10 Real Estate Billionaires in the World.