Who got rich through real estate?
We have mentioned time and time again that real estate is one of the most lucrative industries in Pakistan and while that is true, this industry is not only attractive for investors in this part of the world but is just as promising all over the planet! The real estate industry has created numerous billionaires and this is a universal truth, applicable in most countries around the world.
Twenty-two people rose to the heights of making the Forbes Billionaires List because of their real estate holdings in 2016 and a huge 184 people are now part of the list of the uber-wealthy because they are property rich! China is riding high and is approaching the level of the USA with 42 billionaires to its name while the USA has a staggering 44! Hong Kong is not far with 25 and Singapore is trailing behind with six while other countries have also made the list with their own respective count of real estate billionaires.
So, who got rich through real estate? There are many worth mentioning but let me highlight a few of the world’s top real estate tycoons to give a tad bit of inspiration to the real estate enthusiasts of this country! While this list does not contain any Pakistanis yet, there is no telling what the future may hold!
So, here goes the list of some of the people who own big buildings and have even bigger bank accounts!
Wang Jianlin is from China and is currently the world’s richest real estate enthusiast according to Forbes with a net worth of $28.7 billion. Ranking 18th in the list of the world’s richest billionaires, Wang Jianlin began his journey to riches as a commercial real estate developer, constructing shopping malls and hotels and is the very proud owner of Wanda Commercial Properties.
Seems like going commercial pays!
Lee Shau Kee
Hong Kong’s Lee Shau Kee stands in second place with a net worth of a grand $21.5 billion and is placed 31st on Forbes Billionaires List. Surprisingly, Lee has a very modest background but is now the owner of an investment portfolio containing real estate and hotels with other collateral. His empire is led by Henderson Land Development and he is paving his way to further success!
He is certainly an illustration of the saying, “Hard work pays off”!
Swerving from the Asia-Pacific region, our next real estate tycoon is from Germany. Michael Otto has a net worth of $15.4 billion and the Forbes Billionaires List ranks him 51st in the world’s top billionaires. Highly active in the real estate sector, Michael’s family owns ECE Group, a constructor of shopping centres all around the world. The group also builds logistics centres, company headquarters, industrial buildings, and special purpose properties. He and his family also manage a project consisting of 8,300 apartments!
Wow Michael, that is an impressive number of properties!
The fourth richest property monger in the world, Donald Bren is American and has a net worth of $15.1 billion. Standing at number 54 in the Billionaires List, Donald owns Irvine Company which has 500 office buildings, 50,000 apartments, 40 shopping centres, three hotels, and several other holdings. Notably, he also has a 97% share in Manhattan’s Met Life building!
Astounded? Me too!
It is amazing how much people have earned through the real estate sector and the numbers mentioned have made me slightly dizzy! While the list is endless, we can stop here and perhaps continue another time! Meanwhile, Pakistani investors need to get their investment antennas in place and propel into property havens to make big bucks as there is plenty of potential!
Do you have something to say about getting rich through real estate? I would love to hear your views in the comments below!