How did Sam Zell make his money? Is Zell a Billionaire?

American real estate investor, Sam Zell got the billionaire status way back in the 7os. At the time of his death, he reportedly had an estimated net worth of around $5.3 billion.

He 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.

Equity Office – sub of EGI- was sold to the Blackstone Group in 2006 for $36 billion in 2006, which at that time, was the largest leveraged buyout in history. Equity Lifestyle Properties now owns more than 400 trailer parks, however, they face constant criticisms for how they treat their customers.

“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.