Sam Zell Obituary

American real estate legend, Sam Zell has been reported dead. According to his company, Equity Group Investments, he died at his home on Thursday, May 18, 2023, after suffering from a recent illness. He was 81.

“Sam Zell was a self-made, visionary entrepreneur. He launched and grew hundreds of companies during his 60-plus-year career and created countless jobs. Although his investments spanned industries across the globe, he was most widely recognized for his critical role un creating the modern real estate investment trust, which today is more than $4 trillion industry,” the company said in a statement.

Zell founded the Equity Group Investment in 1968 after trying to be a lawyer for a very brief moment. He was joined by Lurie and went on to grow their business until Lurie passed away in 1990.

The group was in charge of several companies including the Schwinn Bicycle Company, Rev drugstore, Broadway Stores, Santa Fe Energy Resources, mattress company, Sealy, Jacor Communications Inc., and more..

Tributes have been pouring in from several people on the internet when the billionaire’s death was announced.

“A true legend San Zell has unfortunately passed away today at the age of 81. Sam was a monumental real estate mogul to say the least. Thank you for the knowledge and impact you have left us all with!” a Twitter user wrote.

“This guy built a real estate empire from his college dorm room. Sam Zell passed away today. A UMich legend and true captain of industry who sold his company for $36 billion,” Michael Sikand.

“A moment of silence for a guru, mentor, and friend Sam Zell. Zell’s legacy will last for generations. Sam was more than a famed investor, he enjoyed educating the industry and newcomers alike on how to succeed,” Jonathan Litt.

“Today we lost a mensch Sam Zell. He was a man of great integrity, trust, wisdom, and was never afraid to speak his mind or wear what he wanted to. He was world class entrepreneur and friend. He never wanted the spotlight and always did what was right,” Ben Pouladian.