Who is Sam Zell?
Sam Zell was an American billionaire businessman, real estate investor, and philanthropist. He was the founder and chairman of Equity Group Investments, a private investment firm founded in 1968. Zell was known for his aggressive investment style and his willingness to take on debt. He was also a vocal critic of corporate governance and management practices.
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Biography
Sam Zell was born on September 28, 1941, in Chicago, Illinois. His parents, Ruchla and Bernard Zielonka, were Polish Jews who immigrated to the United States four months before his birth to escape the Nazi invasion of Poland. They settled in Chicago, where Bernard became a wholesale jeweler and made successful investments in real estate and the stock market.
Zell showed an early entrepreneurial spirit. In eighth grade, he took pictures at his prom and sold them. He later bought Playboy magazines in downtown Chicago and resold them to his classmates in Hebrew school for a 200% markup.
When Sam Zell was 12, his family moved to Highland Park, Illinois. He graduated from Highland Park High School in 1959 and enrolled at the University of Michigan, where he earned a bachelor’s degree in economics in 1963. While at Michigan, Zell managed a 15-unit apartment building in exchange for free room and board. He also won a contract with a large apartment development owner in Ann Arbor.
After graduating from Michigan, Sam Zell attended the University of Michigan Law School, where he earned a J.D. degree in 1966. By that time, he and his fraternity brother Robert H. Lurie were managing over 4,000 apartments and owned 100–200 units outright. After graduating from law school, Zell sold his interest in the management company to Lurie and moved to Chicago.
In Chicago, Zell founded Equity Group Investments, a private equity firm that specializes in real estate investments. Equity Group Investments went on to become one of the largest private equity firms in the world. Sam is known for his aggressive investment style and his willingness to take on debt. He is also a vocal critic of corporate governance and management practices.
Zell’s Age and Obituary
Sam Zell died on May 18, 2023, at the age of 81.
Personal Life
Sam Zell was married to Helen Zell, and they had three children together. He was a resident of Chicago, Illinois.
Net Worth
Sam Zell’s net worth was estimated to be $5.3 billion at the time of his death. He made his fortune through his work as a real estate investor and private equity investor.
Cause of Death
Zell died on May 18, 2023, at the age of 81. He was survived by his wife, Helen Zell, and their three children.
Zell’s cause of death was not publicly disclosed. However, his private investment firm said that he had been battling an illness for some time.
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Career
Sam began his career as a lawyer, but he soon turned to real estate investing. He founded Equity Group Investments in 1968, and the firm grew to become one of the largest private equity firms in the world. Zell was known for his aggressive investment style and his willingness to take on debt. He was also a vocal critic of corporate governance and management practices.
Zell’s investments were often controversial, but he was also a very successful investor. He made a fortune through his investments in real estate, media, telecommunications, and manufacturing. He also served as chairman of a number of public companies, including Equity Residential, Equity LifeStyle Properties, and Equity Commonwealth.
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Originally posted on June 15, 2023 @ 1:40 am