Forbes magazine has compiled a list of the nine wealthiest developers in New York City. No surprise, most have major Hamptons ties.
Number one on the list of individuals (no family dynasties, where the moolah is spread around) is Richard LeFrak, who has a net worth of $5.6 billion, according to Forbes. Interestingly, he only made number 16 on the Hamptons magazine list of The Most Powerful People in the Hamptons.
Number two on the Forbes list is Related Companies’ Stephen Ross, who has a net worth of $4.8 billion. The Hamptons frequenter is not to be confused with deceased Time Warner kingpin Steven J. Ross, whose widow Courtney Sale Ross founded the Ross School in East Hampton and Bridgehampton. This Stephen Ross is a huge supporter of education though, particularly his alma mater, The University of Michigan, which he’s gifted with millions. The school renamed its business school the Ross School of Business in his honor a decade ago.
Sheldon Solow, Jerry Speyer and Donald Trump tie for third with net worths of $3.5 billion each. No comment on the first, don’t know the second and there’s no need to give any more print to the third.
Jeff Sutton and his $2.7 billion net came in sixth, according to Forbes. I think he’s just in New Jersey and the city. Don’t recall any Hamptons run-ins with him but he gets my vote for handsomest on the list. : )
Mort Zuckerman, publisher of the Daily News and US News and World Report, came in seventh with a net worth of $2.3 billion. Local readers might remember reports of him running into a parked car owned by a single mom in East Hampton this summer, totaling it, and leaving a trail of tears in his wake when his insurance company insisted on paying only book value even though she owed another $3,000 on the auto. Wonder if that ever got resolved? I sure hope so.
Eighth on the list is Bridgehampton’s Two Tree Farms owner David Walentas, with $1.4 billion net. The 115-acre equestrian facility has been home to polo for some years, though it was on the market for $75 million at one point.
Rounding out the list is Leon Charney, who has a net worth of $1.3 billion. There are Charneys in East Hampton but I don’t think he’s one of them.
Here’s a link to the site: http://www.forbes.com/sites/erincarlyle/2014/01/22/real-estateroyalty/