⬅ # 696 Chan Laiwa|# 698 Gail Miller

# 697 Herb Simon 


Real Time Net Worth
as of 7/12/2024
$10.6M (0.23%)

# 697 Herb Simon 


Real Time Net Worth
as of 7/12/2024
$10.6M (0.23%)
OccupationChair Emeritus, Simon Property Group; Owner, Indiana Pacers
Source of WealthReal Estate
ResidenceIndianapolis, Indiana
Marital StatusMarried
EducationBS, City College of New York
Age-Adjusted Net Worth$639.42M
Herb Simon
Herb Simon
United States
Net worth: $4.55B

Self-Made Score 

Wealth History

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Herb Simon is an American billionaire real estate developer.
He co-founded Simon Property Group, now one of the world's largest real estate investment trusts, with his late brother Melvin in 1960.
Simon Property Group owns 230 properties globally, including 196 in the U.S., and is renowned for its shopping malls.
Simon is chairman emeritus of Simon Property Group and also owns the NBA team Indiana Pacers, valued at $1.8 billion.

Early Life Education

Born on October 23, 1934 to Max and Mae Simon in Williamsburg, Brooklyn, he grew up in the Bronx.
He graduated from The City College of New York with a B.B.A. in Business.
His family background includes a father who was a tailor and two older brothers, Melvin and Fred.
His older brother Melvin was his co-founder in Simon Property Group.
Simon's oldest brother Fred served as the leasing director at Simon Property Group.

Personal Life

Herb Simon has been married three times.
His first wife was Sheila Simon, with whom he has two children.
In 1981, he married Diane Meyer, a political staffer, with whom he has three children.
His third marriage was to Porntip Bui Nakhirunkanok, Miss Universe 1988, with whom he has five children.
Simon resides in Indianapolis, Indiana.

Indiana Pacers

In 1983, Herb and his brother Mel purchased the NBA's Indiana Pacers.
He also owns the WNBA's Indiana Fever and previously owned the now-defunct Reno 1868 FC.
Simon's nephew, David, has been the CEO of Indiana Pacers since 1995.
The Indiana Pacers are valued at $1.8 billion.
Simon's ownership extends to both the sports and real estate sectors.

Simon Property Group History

Founded in 1960 by Herb and Melvin Simon, Simon Property Group began with strip malls in Indianapolis, Indiana.
The company went public in December 1993 in the largest initial public offering of a real estate investment trust at the time.
In 1996, it merged with DeBartolo Realty Corporation to form Simon DeBartolo Group.
Simon Property Group acquired various entities including The Retail Property Trust and Corporate Property Investors in the late 1990s.
In the 21st century, the company made significant acquisitions including Chelsea Property Group Inc. and the outlet mall business.
Simon Property Group expanded internationally and entered partnerships to acquire and develop properties worldwide.
The company continued acquisitions and expansions, including acquiring Taubman Centers and J.C. Penney in 2020.

How long would it take you to become as rich as Herb Simon?

If you started with $10,000 and invested an additional $500 each month at a 44.15% CAGR, it would take you 5 years to reach Herb Simon's net worth of $4.55B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 51.86% compared to 19.03% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Herb Simon is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Herb Simon, Real Estate is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey