Coral Gables billionaire Mike Fernandez Floridas newest billionaire when we last did the list in 2013 broke with his Republican past last year over Donald Trump. No hurricanes blew and Buffett did well. On Palm Beach, the appraised value of Peterffys home is outgunned not only by Griffins estate, but also by the homes of radios Howard Stern, ($52.5 million) and Trump, whose Mara- Lago and associated properties rank only 28th on the island. The investment side of his business is heavily involved in such shareholder activism as publicly agitating for changes in management and board governance and sometimes engaging in proxy fights to gain control of target companies. Sears stock (NASDAQ: SHLD) recently traded around $27, well below the level of late 2013, when it topped $50. How he made his money: Took over the family business his father founded and turned it into a media industry leader. Mendelson would advise someone starting out in business to do what you enjoy doing and focus hard. He also said in an email exchange to focus on more than money, just do a good job and remember that your customer must get good value, respect and quality products., The chairman of Heico also said that Heicos South Florida home has contributed to its success: South Florida is a great source of quality life and fine people to work with you. Even so, hes up $700 million since 2013. The Norman and Irma Braman Family Foundation funded the opening of the Braman Family Breast Cancer Institute at the University of Miami's Sylvester Comprehensive Cancer Center. Place Of Birth. How he made his money: Co-founded the Subway chain of sandwich shops. In 2014, Florida ranked fourth nationally, with 4,710, in the number of people with at least $30 million, according to a study by UBS. Besides, he has engaged himself with other activities like piloting. He continues to hold sizable equity stakes in publicly traded companies, among them Psychemedics, which tests for drug abuse through analysis of hair samples, and Swisher Hygiene, a provider of institutional and industrial cleaning chemicals and restroom cleaning and restocking services. It has all the necessary ingredients to continue along its success path.. In 2006, Rich became chairman of the board of Rich Products Corp. after the death of his father, and his wife, Melinda Rich, became vice chairman. People are what make businesses prosper. He also said he has lived in South Florida for 60 years and never wanted to live anywhere else. . frsvunna mattias flashback; trailerdragare till salu. In 2013, making the cut for the top 25 required $1.2 billion. New York-based billionaire Richard LeFrak, for example, has been spending more time in South Florida since he invested in the 2008 recapitalization of BankUnited, the largest locally based bank. I believe strongly in the power of surfing to impact peoples lives, and its that power that brings surfers and non-surfers alike to our sport and community, Ziff says. He became New Jerseys richest man and, in 2015, the richest man to leave for Florida. The extended Ziff family has their fathers 33-bedroom, 16-acre estate in Manalapan south of Palm Beach on the market for $195 million. Lets move the business entirely, Navas says. The story: Bruce R. Berkowitz, 56, is the founder, managing member and chief investment officer of Fairholme Capital Management. How reclusive? Steve Stevens Net Worth. In Florida, it has the W South Beach Hotel on Miami Beach and, in West Palm Beach, CityPlace, which he has described as not a huge success financially. Owned by Aurelio Fernandez, a retired tech executive and real estate investor, and his pediatrician wife, Berta, the bayfront, five-bedroom house was a location in the Miami Vice movie. Public institutions including the Arsht Center for the Performing Arts, the New World Symphony performance hall in Miami Beach, the Frost Museum of Science, the Prez Art Museum Miami and the University of Miamis Miller School of Medicine have been made possible in part by gifts by the Arison and Miller families and individuals like Philip Frost, Prez and philanthropist Adrienne Arsht (who gave $30 million for the performing arts center, though her wallet isnt quite hefty as those on this list). States up north will have a hard time going after someone for income tax who does all that. Prez said in an email exchange that people starting in business should pick something you love and pursue with great dedication and passion. He also said, South Florida has been absolutely essential in my growth. Miller was cautious in assessing Lennars prospects on the companys Sept. 17 conference call with analysts to discuss second-quarter financial results. . His net worth increased $700 million since 2013. independent local journalism in Miami. In August, Frost led a group that invested in preferred shares of Drone Aviation Holding Corp. in Jacksonville. The city, after all, is home to the famed Naples Winter Wine Festival, which serves as a fundraiser for a local childrens and education foundation. The company has a portfolio of mostly residential and office properties concentrated in New York, Los Angeles and London. He bought the Buffalo Bills for $1.4 billion, besting suitor Donald Trump. But the Mendelsons saw greater potential in long-term ownership, so they acquired control of Hollywood-based Heico Corp., a manufacturer of aircraft replacement parts. As the hundreds of riders in Wellington demonstrate, Florida as wealth magnet draws far more than the 0.0001% (of the states population) who made our top 25 list. It doesnt matter what you do, if you really like it, he said. Despite their diverse sources of wealth, the 25 wealthiest South Florida residents are undiversified in two other ways: gender all are men and race. Generally speaking, the market has continued a slow and steady recovery that is markedly different from past down-cycle recoveries. Talent will not; nothing is more common than unsuccessful men with talent. The company went public in 1987, raising $400million for expansion, and by 1989, Arison had engineered Carnivals acquisition of Holland America Line. The name combines the first letters of Soffer, the Miami billionaire family behind Turnberry Associates, LeFrak and Miami. A milestone in the development of Cisneros Group was its 1960 acquisition of a television channel that ultimately became Venevision, the leading national TV network in Venezuela. He was a partner and co-chair of the trade secrets and IP practice group at Meland, Russin & Budwik in Miami. How he made his money: Real estate development. People going into business today should pick a business or career that cannot be shipped abroad or purchased abroad, Olenicoff said in an email exchange. SteveWillDoIt has an estimated net worth of about $2.55million. Live here at least 183 days a year. I had agreed to become chairman several years ago when the then-chairman became ill, Frost said in a phone interview. This is a new drug for the prevention of nausea and vomiting associated with cancer chemotherapy, and it has a good possibility to be the best product in the market, since a single tablet is enough to protect the patient for five days., But the billionaire doctor's investments range well beyond healthcare. Obviously, they are very biased and in the Democrats pockets., 2 David Tepper, 59 $11.4 billion Miami Beach. Another wealth indicator: Coincidental to the Trump-Clinton weekend visit in February, New York private equity firm head Stephen Schwarzman, of the Blackstone Group, threw himself a 70th birthday party at his Palm Beach estate that featured two camels, a gondolier, a fireworks show, Gwen Stefani flying in to sing him Happy Birthday and 400 guests all for a tab the New York Times estimated at $7 million to $9 million. The move also signified the companys increased investment in Florida, where they have Florida Distributing, which supplies 6,000 retailers in central Florida with domestic, import and craft beers, and Pompano Beach-based wholesaler Gold Coast Beverage Distributors in south Florida, the largest beer distributor in Florida and one of the top 10 in sales nationally. Gustavo Cisneros began his career at Venevision. Im certainly seeing in my practice more and more businesspeople saying, I love the life in Florida. Anthem acquired Fernandezs Simply Healthcare Plans managed care company in 2015, the year after CVS acquired his Navarro Discount Pharmacy chain. Huizenga also has been a successful real estate investor. This recovery is just now getting us back to that level of starts, Miller said on the call. In December, he paid $517 million cash for Miamis Southeast Financial Center, Floridas biggest office building. 4, Mexicos Carlos Slim, is more active philanthropically in Florida than some who claim the state as their residence, but hes more in the news for dinner at Mar-a-Lago or with basketball stars here. Four years later, in 1999, he opened Trump International Golf Club, a $40 million golf course within a seven-minute drive of Mar-a Lago. The story: Micky Arison, 65, has been with the cruise company his father founded for more than 30 years. 21, has parlayed an entertainment career into a clothing brand, cable TV venture and marketing venture. She was built to Unknown classification society rules. Source: Fairholme Capital Management, LLC. Frost was chairman of the board and a major shareholder of Key when he and Jaharis sold it to the old Schering-Plough pharmaceuticals company for about $575 million in 1986. She immediately rides a jumpoff, again without flaw, but her time leaves her in 13th. He served as chairman of the board of Kmart Holding Corp., which emerged from bankruptcy in 2003 and became a profitable retailer before its 2005 merger with Sears, Roebuck & Co. The story: Raised in Russia, Len Blavatnik, 57, immigrated to the United States in 1978, then became a U.S. citizen in 1984 and went on to become a successful investor and philanthropist. Advances in communications technology have enabled more wealthy business owners to run their companies remotely from South Florida. LeFrak served four years as a director of BankUnited before selling his shares in the largest South Florida-based bank. I owe all to the openness of this community and the generosity and acceptance of the people that live here.. The next day, no doubt too early for many of Schwarzmans partygoers, young Jennifer Gates takes to the saddle as What Have You Done For Me Lately? plays over the arena speakers. The vast majority of Steve Ballmer's net worth is derived from his 333. One did it in real estate. For perspective, that property tax bill alone is more than the annual income of all but the top 0.1% of U. S. tax filers. He has talked of turning over the business to sons Jon Paul and Nicholas. How he made his money: Built and sold two drug-development companies, the first for about $575 million, the second for $7.4 billion. The key take-away from the list is this: It requires more money gobs more to make and keep a place on the list. The Ziff family owns the 33-bedroom, 16-acre estate south of Palm Beach. LeFrak also invested in the remains of the former Corus Bank of Chicago, which counted many South Florida developers among its loan clients before the crash. He has a concentrated equity investment style, making big bets on relatively few stocks that most investors avoid. (The entire list of the residents on the Forbes 400 is at the end of this article. Although South Floridas wealthiest residents have made their money through varied businesses, nearly all have benefited from hard work and inventive approaches. He succeeded his father, the late Leonard Miller, who founded Lennar in 1954, as Lennars chief executive officer in 1997, five years before his father died July 28, 2002, of liver cancer, according to the South Florida Business Journal. Schmieding is among the few on our list who are entirely self-made and who made their money in Florida. Although Rockstar plays third fiddle to Monster and Red Bull in the energy drink game, its made him plenty. Its annual benefit this year at The Breakers on Palm Beach was MCd by Norah ODonnell and featured performances by Roger Daltrey and Jimmy Buffett; the guest list included fellow Palm Beach billionaire Thomas Peterffy. USA Today reported in May that DeLuca had resumed his work schedule at Subway after treatment for leukemia, including chemotherapy and a bone marrow transplant. How he made his money: Led the development of Waste Management and Blockbuster Entertainment, often via business acquisitions. Fracking is an emergent technology that involves high-speed injections of fluids and other materials that stimulate oil and gas flow from shale rock formations by creating fractures within them. His investments in BankUnited and Corus Bank were successful because the timing was good, LeFrak said. LVMH Moet Hennessy-Louis Vuitton, chaired by the 14th-ranked world billionaire, Bernard Arnault, played a critical role in the transformation of the rundown Miami Design District into a Louis Vuitton, Prada, Cartier, Harry Winston, ultra-luxe shopping area set to blossom even more this year. Frost became co-chairman of Teva shortly after its 2006 acquisition of Ivax. He has been chairman and CEO and a major shareholder of the Miami-based public company since 2007. Purchases of stock in Bank of America and American International Group, or AIG, in 2011 helped to produce handsome 2013 returns on investment in his $8.8 billion-asset Fairholme Fund, according to trade publication Institutional Investor. Timeshare developer David Siegel in Orlando is closing in, and the Weavers in Jacksonville would be over the top if they had held onto the NFL Jaguars. Arisons net worth is up $2.7 billion in four years. He supports local causes, and Arthrex is known in southwest Florida for supporting the considerable volunteerism of its employees. In 2015, the same year he bought the Casa Apava estate on Palm Beach for $71 million, he gave a TED talk decrying the wealth gap in America and warning it could spark revolution. A friend of his family, Dr. Peter Buck, suggested that DeLuca open a restaurant specializing in submarine sandwiches and loaned DeLuca $1,000 to get started. Of the billionaires who officially reside in Florida, most seem to do little more here than own a home, dock a boat and escape state income and inheritance taxes elsewhere. This has been coming for a long time and why I selected real estate some 40 years ago. The story: Robert E. Rich Jr., 73, followed in his fathers footsteps and built the family business with a focus in frozen food products. As was true in Flaglers time, there is no place for the rich and famous like Palm Beach and not just because its the kind of place former President Bill Clinton and current President Donald Trump visit on the same weekend. He is a financial backer of Faena District, a multi-block, multi-use real estate project under way in Miami Beach, led by Argentine developer Alan Faena, who in 2012 started amassing hotel. In a New York Times obituary, the newspaper noted that Ted Arison was widely regarded as the godfather of the modern cruise industry. Carnival has faced operational adversity in recent years, and its net income has declined in the last two consecutive fiscal years. The company is headquartered in Coral Gables and run by CEO Adriana Cisneros, who lives in Miami Beach. In 1984, the company began expanding abroad by opening a location in Bahrain. He will focus his practice on advocacy, public affairs, government procurement and business startups. The law firm of Weiss Serota Helfman Cole & Bierman in Miami has named Sonja Chaves chief operating officer. In January 2012, a ship carrying Costa Cruises passengers wrecked along the Tuscan coast of Italy, killing 32 people. He bought a house in Delray Beach, but in 2016 he went big with the purchase of a Kobi Karp-designed, $20-million, seven-bedroom Miami Beach bayfront mansion thats his official primary residence. 13 Igor Olenicoff, 74 $3.7 billion Lighthouse Point. The companys stock has been trading in the high $30s lately, well above its sub-$30 stumble right after the deadly shipwreck off Italy. New York Stock Exchange-listed Lennar stock recently was trading at share prices around $39, about 11 percent below its 52-week high of $44.40. The self-made Huizenga has been quieter in recent years. Perlmutter is a veteran of Israels Six-Day War, came to the U.S. with $250 in his pocket, started a toy company, wound up in control of Marvel and built it into an entertainment juggernaut he sold to Disney in 2009 for $4 billion. Do not reach for your potential. Steve's scramble with the Minnesota Vikings in 1988 became a feature in a Burger King commercial in 2006. Trump began his career by working in the construction business with his father, Fred C. Trump, with whom he shared an office in the Sheepshead Bay section of Brooklyn. In 1983, Pegula borrowed $7,500 from family and friends to start East Resources Inc., and he built the independent oil and gas exploration business into one of the largest privately held companies in the United States with a helping hand from advanced oilfield technology. The co-founders in 1968 to put the Subway brand name on their restaurants. For me, it has been very successful, Frost said. Steven Haworth "Steve" Miller Quick Info. The story: Donald Trump, 68, who made much of his fortune in the New York City real estate market, has referred to Florida as his second home. ago] Height 6.02 -- Weight 190 [188 cm/86 kg] Embed Steve Savor stats! He is chairman of the board of the St. Joe Company, a publicly held Florida-based real estate developer. I really believe you have to stand for something in life, he said. Its a matter of strategy for me, Frost said. Tenant, Stunned Pooch, Narrowly Escape Wrath of Palm Beach Gardens Tornado (VIDEO), Report: 350+ Books Banned in Florida School Districts Since Last July, Meet the Dolphins' Draft Class of 2023 and Their Former 'Phins Doppelgangers, Miami Dolphins Fan Guide to the 2023 NFL Draft, Uber, Lyft Drivers Strike at Florida Airports to Demand Livable Wages. Realtor Jill Hertzberg said that for some homebuyers, profit potential is a major lure. Dirk Ziffs net worth is up $600 million since 2013. Perlmutter, a friend of Donald Trump, was meeting at Mar-a-Lago with the then president-elect when Reuters shot a picture through a window. He and wife, Mei Sze, founded an innovative private, pre-K-8 school in West Palm Beach with a student-teacher ratio of 2-to-1. He earlier bought a block on Miami Beachs Lincoln Road for $370 million. The magazine also recounted in an article about the Ansin family fortune that Ed Ansin and his father paid $3.4 million in 1962 to buy a local television station affiliated with the NBC television network, then called WCKT and later renamed WSVN. Its real estate subsidiary New Valley LLC owns a majority of high-end residential property agency Douglas Elliman. Ansin earned his undergraduate degree at the Wharton School of Business and Finance. September 22, 2011 Its developments include adjacent Vero Beach golf resorts Grand Harbor and Oak Harbor. The Wall Street Journal reported that the Faena District will cover a six-block area and will encompass a hotel, retail center, arts center and an 18-story oceanfront condominium, called Faena House, with unit prices up to $50 million for the 14,000-square-foot penthouse. Arison remains chairman. Huizenga has since sold his stake in all three teams except for fractional ownership of the Dolphins. In 2013, Arison ended his 34 years as CEO of the Carnival cruise line business he had built into its leviathan scale after taking over from its founder, his father, Ted. Source: Franklin Resources Inc. (NYSE:BENO). Forbes magazine, which annually estimates the value of National Basketball Association franchises, reported that the move by NBA star player LeBron James to the Cleveland Cavaliers from the Miami Heat could reduce the market value of the Heat franchise from $770 million, currently the seventh-most valuable franchise in the NBA. In 1996, he founded Boca Resorts. The chewing gum heir turned a stalled family business into a growth company, then in 2008 sold it to Mars for $23 billion. He graduated from Williams College in 1963 with a bachelor of arts degree, and joined the family business in 1964 as president of Rich Products of Canada Ltd. A $1 rise in RJFs stock is a $14.7 million gain for James.) He has been chairman of Teva since 2010, when longtime chairman Eli Hurvitz resigned due to health problems. Following are biographical summaries for each of South Floridas wealthiest 25 residents, including how they made their fortunes. 1 Thomas Peterffy, 72 $15.2 billion Palm Beach, A Hungarian immigrant who made his mint as a pioneer in electronic and online stock trading, Peterffy moved to Florida in 2015. As these companies scale, I believe you will see increasing numbers of African Americans within South Floridas upper echelons of wealth.. Still, the rarified heights of the uber-wealthy may yet include more women and people of color. The property tax alone is $1 million a year. The 10 most expensive homes on the market in Florida. He has a $14-million waterfront home in Naples. St. Petersburg also is home to Ron Wanek, who in 1970 became general manager of a 35-employee manufacturer of tables and cabinet commodes in Wisconsin. Hes written three books on fishing and, recently, a novel. Some state leaders complained Buffett would make out like a bandit, but others counseled the state needed the insurance. Steve and Wife Kathy Gerrity's Children. He is the majority owner of the Miami Dolphins and Hard Rock Stadium. Born to Cuban parents in Argentina, hes self-made and made-in-Florida, first developing government-supported housing before switching to luxury condos.He purchased a unit in a Fort Lauderdale condo he developed, Auberge Beach Residences & Spa, for use as his beach pad. Reportedly owned by Colombia interior designer Catalina Echavarria. Join Facebook to connect with Steve Savor and others you may know. Of the top 25, 19 live in south Florida. Lenders for his Icon Brickell condo development seized two of its three towers in 2010. Some Tepper, for example even move their operations here. Being spared jail time later became a precedent cited by other tax cheats in their sentencing hearings. 1943-11-5. Where he lives: Indian Creek Island (seasonal). Weintraub, who was born in Cuba and raised in Miami, said the city has become a very exciting place to live. Although South Florida remains a popular place to retire, because of the quality of life youre seeing in Florida and because of the tax structure you have, people in the prime of their lives are moving here permanently, she said. The Yale alum, for instance, gave $250 million to the university in 2013 to build two residential colleges there. Steve Harvey Net Worth. Now Henry is well into his second career as a team owner in professional sports. 7 Paul Tudor Jones, 62 $4.7 billion Palm Beach, Jones, the latest hedge fund manager to choose Florida, is a former cotton trader whose average annual return for three decades has been 17% after fees. One was a company acquirer and builder. Milwaukee, Wisconsin, United States. Persistence and determination alone are omnipotent.. The Pegulas recently made a successful bid to acquire the Buffalo Bills, the National Football League franchise. Steve Harvey hasn't forgotten his roots and knows the value of acquiring real estate. Natural gas fracking carried Pegula to riches. For us, its been easy to attract talent. The New York Times reported that Henry and his investor group paid $660 million for the Red Sox. Before this downturn, anything below 1 million housing starts in a year was considered almost a housing depression. His portfolio in both film and TV is much more extensive than that of his colleagues, though. Richard LeFrak, who joined the LeFrak Organization in 1968 and became its president in 1975, was appointed chairman and chief executive officer in 2003. The wealthy arent evenly distributed around the state. The newspaper also reported that DeLuca, a Fort Lauderdale resident, spends most of his time traveling to visit Subway franchisees and has no plans to retire.. 25 William H. Wrigley Jr. II, 53 $2.6 billion North Palm Beach.
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