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Olen operates Quantum Town Center in Boynton Beach, a 117,000-square-foot commercial building, and the Delray Commercial Center in Delray Beach. In 1974, DeLuca and Buck were the owner-operators of 16 restaurants in Connecticut, and they decided to sell Subway franchises in order to expand the restaurant chain at a faster pace. They are young people and very knowledgeable about the product, said Frost, a former director of military aircraft contractor Northrop Grumman Corp. For people starting out in business, the important thing is what business you choose, Frost said. He co-founded the company in 1980 with his wife, Neerja Sethi, who has served as a director and vice president, corporate affairs, throughout the companys 34-year history. Stephen Ross, 76 $7.4 billion, Palm Beach. In 2014, Florida ranked fourth nationally, with 4,710, in the number of people with at least $30 million, according to a study by UBS. Reach for the unreachable, he said in an email exchange, but avoid debt whenever possible, and be the dumbest person in the room, as this will accelerate your development., Fernandez also said by email that South Florida has provided him a useful sense of likely U.S. business trends: By looking at Florida's changing demographics, I believe that you are seeing our nations future. In January, Huizengas wife of nearly 45 years, Marti, passed away. Full Name. Read More How he made his money: Co-founded the Subway chain of sandwich shops. Arison has been chairman of the board of directors at Doral-based Carnival since 1990 and a director since 1987. Carol Jenkins Barnett, daughter of Publix founder George W. Jenkins, has a reported $1.67-billion fortune. The ambitious son later became a leading developer of residential high-rises and hotel properties in Manhattan and took his talents to other fields as well. However, Braman may be best known as a civic activist who has backed campaigns to recall former Miami-Dade County Mayor Carlos Alvarez from office and to defeat such controversial proposals as tax-funded improvements of sports facilities. Hooray! Prez built high-rise condominiums in South Beach and Sunny Isles Beach. Net Worth: $200 Million. Henrys company also owns 80 percent ownership of regional television network NESN (New England Sports Network) and 50 percent of NASCAR racing team Roush Fenway Racing. His 8,271-sq.-ft. penthouse in the Apogee South Beach covers three floors, has five bedrooms, seven baths and 13,150 square feet outdoors with a pool, movie screen, kitchen and hot tub. Ross influence ties, in a way, to Miamis condo skyline. The story: Stuart A. Miller, 56, is still trying to put a near-depression in the housing market behind him and his home building company, Miami-based Lennar Corp. Miller has been a director of the company since 1990. In four years, hes up nearly $2 billion in net worth. Heres one way to gauge the wealth. In 2015, the same year he bought the Casa Apava estate on Palm Beach for $71 million, he gave a TED talk decrying the wealth gap in America and warning it could spark revolution. He has been chairman of Teva since 2010, when longtime chairman Eli Hurvitz resigned due to health problems. Huizenga also invested in three professional sport franchises: He paid $95 million in 1991 to acquire the Florida Marlins baseball team, $50 million in 1992 for the Florida Panthers hockey team, and about $140 million in 1994 for majority ownership of the Miami Dolphins football team. Olenicoffs net worth is up $1.2 billion since 2013. Richard LeFrak, who joined the LeFrak Organization in 1968 and became its president in 1975, was appointed chairman and chief executive officer in 2003. One shared trait: Old money didnt get them there theyve kept working. People going into business today should pick a business or career that cannot be shipped abroad or purchased abroad, Olenicoff said in an email exchange. The company provided IT services to 120 customers last year in the United States and Europe, including American Express and State Street Bank, its two largest customers in 2013. Florida has no state income tax, let alone a surcharge for being a multi-millionaire, nor does it have county or city income taxes or a state inheritance tax. Having billionaires as neighbors might not be quite as good as being one, but it does have its benefits. And thats what happens in society when we dont stand for principles., Braman said people starting in business today should make protection of their reputation their top priority: When you start out in life, the most precious thing you have is your name, and you just want to make sure, whatever your choices are, to value that more than anything else.. The housing market collapse in 2008 and a health scare (a benign mass on his pancreas) prompted Prez to reexamine his personal and professional priorities. His net worth has increased $600 million in four years. 7 Paul Tudor Jones, 62 $4.7 billion Palm Beach, Jones, the latest hedge fund manager to choose Florida, is a former cotton trader whose average annual return for three decades has been 17% after fees. Since the 1972 startup of Carnival, Ive spent the better part of my life working in Miami and building the company from three ships to a fleet of more than 100 ships. South Florida continues to help drive our growth, he said, citing easy access to the Caribbean and the beautiful setting here.. Also, its a great business area with a very pro-business and entrepreneurial atmosphere.. He became New Jerseys richest man and, in 2015, the richest man to leave for Florida. In an email exchange, Henry said he would advise people starting in business today to find a professional passion: You cant work hard enough at whatever it is you want to be successful at, so you had better love what you are doing. Henry said, although I spend my summers up north, South Florida has been his principal home for the last 25 years, so I owe a lot to the area. Balbirer says high net worth individuals, advised by accountants or lawyers, establish residency properly. In New York, his Related has the Time Warner Center and Hudson Yards. According to Forbes magazine, Olenicoff has been preparing his daughter Natalia Ostensen to take over the management of Olen Properties. PublicPrivate Court, Arrest, Lawsuits, Bankruptcy Records & Sex Offender Status This is a new drug for the prevention of nausea and vomiting associated with cancer chemotherapy, and it has a good possibility to be the best product in the market, since a single tablet is enough to protect the patient for five days., But the billionaire doctor's investments range well beyond healthcare. Eve Jobs, daughter of the Apple founder, rode the same week. He was founder, president and CEO of Group Tech Systems, which developed a national database of group health insurance information. Of the five who amassed their fortune in Florida and built companies here and employed substantial numbers of Floridians, only one did it in tourism and travel. Prez and Ross developed City Place, a mixed-use downtown landmark in West Palm Beach. The story: Carl Icahn, 78, is a Wall Street titan with an activist approach to investing and impressive staying power. The extended Ziff family has their fathers 33-bedroom, 16-acre estate in Manalapan south of Palm Beach on the market for $195 million. The story: Bharat Desai, 61, is chairman of the board of Syntel Inc., a leading source of integrated information technology to help large companies transact business in the fields of financial services, healthcare and life sciences, insurance, manufacturing, retailing, logistics and telecommunications. Arisons net worth is up $2.7 billion in four years. As was true in Flaglers time, there is no place for the rich and famous like Palm Beach and not just because its the kind of place former President Bill Clinton and current President Donald Trump visit on the same weekend. Davis has an impressive net worth, and you might be wondering if the former professional snooker player is the richest. Meanwhile, his net worth has doubled since our last list. The story: Robert E. Rich Jr., 73, followed in his fathers footsteps and built the family business with a focus in frozen food products. . You have to show up all the time. Golisano, the founder of Paychex, said at the time the move would save him $13,800 a day. It has 1,200 feet of beach frontage, 1,300 feet on the Intracoastal and a furnished, air-conditioned tunnel running under A1A connecting the main house to guest houses. As of April 2023, Steve Harvey's net worth is roughly $200 Million. There are a lot of take-aways from the list. In February 2013, an engine fire disabled the Carnival Triumph in the Gulf of Mexico, exposing more than 4,000 people aboard the ship to broken toilets and unsanitary conditions. Pontius' current net worth is about $4 million. American actor, screenwriter, producer, martial artist, and musician Steven Seagal has an estimated net worth of $14 million dollars, as of 2022. . WSVN ultimately affiliated with the Fox Network and Ansins navigation of the affiliation transition proved a success. He bought a house in Delray Beach, but in 2016 he went big with the purchase of a Kobi Karp-designed, $20-million, seven-bedroom Miami Beach bayfront mansion thats his official primary residence. The Pegulas recently made a successful bid to acquire the Buffalo Bills, the National Football League franchise. Gustavo Cisneros began his career at Venevision. Before this downturn, anything below 1 million housing starts in a year was considered almost a housing depression. Although Prez has restructured Related Group to make it less reliant on condominium projects, he has hardly abandoned the condo market. The Palm Beachers on the list have a combined net worth of $261.8 billion, according to the Forbes data. The deal appears to be paying off for both parties. According to Forbes magazine, Icahn bought a 14,000-square-foot Indian Creek Island vacation home in foreclosure for $7.5 million in 1997, long before most of the wealthiest residents of the island village in northeast Miami-Dade bought homes there. Wilbur Ross, President Trumps Secretary of Commerce, just missed the cut at $2.5 billion. For perspective, that property tax bill alone is more than the annual income of all but the top 0.1% of U. S. tax filers. He currently is chairman of the Sears Holding Corp., the parent company of the Sears chain of department stores, and has served as chief executive officer of Sears since February 2013. How he made his money: High-rise condominium development. Generally speaking, the market has continued a slow and steady recovery that is markedly different from past down-cycle recoveries. He buys, holds, sells and scores whether its the family eye-products company, cable, mobile or energy. History would suggest a more vertical recovery, especially given the severity of the economic decline. He paid a $52-million fine and was sentenced to probation after pleading guilty in 2007 to filing of a false tax return in connection with squirreling money away offshore. A milestone in the development of Cisneros Group was its 1960 acquisition of a television channel that ultimately became Venevision, the leading national TV network in Venezuela. I am now a huge enthusiast for South Florida, LeFrak said. Gabriel Gabe Groisman has been named a partner at LSN Partners, a government and business consulting firm in Miami Beach. . By January 2004, Trump had a deal with the NBC Television Network to produce and star in the reality TV show The Apprentice. | View as text Related Information Similar Players Not the Steve Savor you're looking for? He gave $1 million in 2016 to Baptist Health in Jacksonville. The story: Raised in Russia, Len Blavatnik, 57, immigrated to the United States in 1978, then became a U.S. citizen in 1984 and went on to become a successful investor and philanthropist. After studying at Pitt and Carnegie Mellon, Tepper eventually made his way into high-yield trading at Goldman Sachs before starting his own hedge fund firm, Appaloosa Management. Prez preserved Related Group by renegotiating its debts and diversifying its business. The story: H. Wayne Huizenga, 76, made his fortune almost entirely from successful investments in years past, according to Forbes magazine. His firm has an office in Palm Beach but its headquarters remains in Connecticut. The couple bought preconstruction and listed it a few months after taking ownership. 19, with a net worth of $41.2 billion (up from 2018). As of April 2023, It has allowed him to earn almost $50 million net worth. The story: John W. Henry, 65, got rich in commodities trading, rich enough to allow him to buy the since-renamed Florida Marlins baseball team from Wayne Huizenga for $150 million in 1999. He hasnt even publicly acknowledged being the buyer. He lives on a lake north of Naples downtown. Living in Florida has been like having a free look at tomorrows stock prices. Over the years, Braman Motors has added not only new locations but also new brands to its automotive product line. The newspaper also reported that DeLuca, a Fort Lauderdale resident, spends most of his time traveling to visit Subway franchisees and has no plans to retire.. Young people going into business must not be afraid to fail but must pay close attention to every detail of their enterprise, LeFrak said. r of the Decade in 2010. Reyes Martin- Brower unit is McDonalds largest food supplier. Today the privately held Subway chain based in Milford, Connecticut, has more than 37,000 locations worldwide. I believe strongly in the power of surfing to impact peoples lives, and its that power that brings surfers and non-surfers alike to our sport and community, Ziff says. At the bash, Jones called for people to pressure state leaders on the foundations cause. But he left his biggest mark in downtown Miami, where, starting in 2002, he built a dozen high-rises with a total of 5,500 condo units. And entrepreneurship may also be the path for people of color. Although South Floridas wealthiest residents have made their money through varied businesses, nearly all have benefited from hard work and inventive approaches. Its a very diversified source of wealth compared to what youd find in Silicon Valley and other parts of the United States, said Luis Navas, managing partner of Global Governance Advisors. How he made his money: Started in the construction business with his father in Brooklyn, became a successful Manhattan real estate developer, diversified into book publishing and television production. Besides, he has engaged himself with other activities like piloting. You can find more information on an imate by visiting the county's arrest inquiry page or by calling 954-831-5900. $40 Million. In Mel Brooks 1976 film, Silent Movie, the slogan of the giant corporation, Engulf & Devour, was our fingers are in everything. The worlds billionaires have their fingers throughout Florida, a testament to the states attractiveness but also to the reality that when you have billions to deploy, it has to go somewhere. Its important to pick businesses that have the potential for long-term growth and preferably with high profit margins. South Florida has been an effective launching pad for his career. When a billionaire New Yorker profits from home ownership in South Florida, he goes back and tells two other big boys, who tell two others, and all of a sudden you've got a whole world of people like that here., Its the same thing with people from South America: A group will come in, and then another group will come in and say, its safe, its wonderful, its a good place to put your kids in school, and, by the way, I made money there, Hertzberg said. The fabulous weather, wonderful amenities and sense of community allowed us to recruit and retain great people, he said. Other familiar names like Wayne Huizenga, Norman Braman, and Jeff Greene also make the list. He is shoveling it out fast: $100 million to the University of Miami last year to fund engineering and science program upgrades, $35 million for a new Miami science museum. That makes him the 75th richest man in America. Steven Smith Net worth $23 million & he is the current captain of Australia. How he made his money: Worked with his father to build the worlds largest cruise company. He would miss the top five today. How he made his money: Co-founded a successful information technology company with his wife, Neerja Sethi. How he made his money: Used his managerial experience in the healthcare industry to invest successfully in healthcare-related businesses. Icahns various Florida-related targets in recent years include WCI and Hertz. Steve Ballmer, Microsoft, No. The story: Edward S. Lampert, 52, founded the hedge fund company bearing his initials in 1988. Louis Balbirer, tax services principal at Kaufman Rossin in Fort Lauderdale, says establishing residency in Florida isnt hard: Get a Florida drivers license, own a home, register to vote, register the cars here. How he made his money: Netted billions of dollars by selling his share of a chemical maker and an oil production venture. People are what make businesses prosper. He also said he has lived in South Florida for 60 years and never wanted to live anywhere else. Forbes magazine, which annually estimates the value of National Basketball Association franchises, reported that the move by NBA star player LeBron James to the Cleveland Cavaliers from the Miami Heat could reduce the market value of the Heat franchise from $770 million, currently the seventh-most valuable franchise in the NBA.

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