Sam Zell Death: How did Sam Zell die?

American real estate billionaire, Sam Zell died due to complications from a short illness. His death occurred on  Thursday, May 18, 2023. He was 81 years old.

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.

“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,” Equity Group Investment said in an official statement after his death.

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.

The group owns companies and organizations including the Schwinn Bicycle Company, Rev drugstore, Broadway Stores, Santa Fe Energy Resources, mattress company, Sealy, Jacor Communications Inc., and more.