Richard LeFrak – Billionaire

Richard LeFrak (born 1945) is an American businessman. He is chairman and CEO of LeFrak, a privately held, family-run company based in New York City that owns, develops, and manages real estate. He is one of the biggest landlords in the NY tri-state area.

Early life and education

LeFrak was born in 1945 to a Jewish family in New York City, one of four children of Ethel Stone and real estate developer Samuel J. LeFrak. LeFrak received a B.A. and graduated cum laude from Amherst College. LeFrak also holds a J.D. from Columbia University. In 1998, LeFrak received an honorary doctorate degree from Amherst College.

Career

LeFrak joined his family’s real estate firm, LeFrak, in 1968. In 1975 he was appointed president. In 2003, he was elected chairman and CEO following the death of his father, Samuel J. LeFrak. In 1986 LeFrak and his father began building in Jersey City, New Jersey on the site of abandoned piers and rail yards. The area is now known as Newport, a 600-acre neighborhood with 8 office buildings, 13 apartment towers, 2 hotels, an urban beach, schools, a retail mall, and parks.

LeFrak is also credited with leading the LeFrak organization’s expansion and diversification outside of the New York area. In 2008 the company purchased a 12-story office building on Hollywood Boulevard as well as a medical building in Beverly Hills, California. In 2012 LeFrak purchased a stake in a South Beach, Miami luxury mixed-use property, including a hotel formerly known as the Gansevoort. The project is expected to open in early 2014 as the eco-minded 1 Hotel Homes.

LeFrak has appeared on CNBC and Bloomberg Television. He was ranked #16 on the Commercial Observer’s Real Estate Power 100 in 2013, # 20 in 2012, #20 in 2011, #10 in 2010, #18 in 2009, and #64 in 2008.

Source:wikipedia