⬅ # 494 Annette Lerner|# 496 Todd Boehly

# 495 Bob Faith 

$6.01B

Real Time Net Worth
as of 6/14/2024
$302 (0.00%)

# 495 Bob Faith 

$6.01B

Real Time Net Worth
as of 6/14/2024
$302 (0.00%)
OccupationFounder, Chair, and CEO of Greystar
Source of WealthReal Estate Management
Age60
ResidenceCharleston, South Carolina
Marital StatusMarried
Children3
EducationMBA, Harvard Business School; BS, University of Oklahoma
Age-Adjusted Net Worth$6.01B
Bob Faith
Bob Faith
United States
Net worth: $6.01B

Self-Made Score 

Biography

Early Life and Education

Robert Alan (Bob) Faith grew up in Oklahoma with intentions to pursue a career in the oil industry like his father
Earned a bachelor's degree in petroleum engineering from the University of Oklahoma
Opted to pursue an MBA from Harvard University after facing a recession in the oil industry
Graduated from Harvard in 1986

Career Path

Began career at Trammell Crow Company, eventually becoming a partner
Co-founded Starwood Capital Group in 1991 with Barry Sternlicht, focusing on acquiring foreclosed multifamily properties
Founded Greystar in Houston, Texas in 1993
Served as Secretary of Commerce for the State of South Carolina from 2002 to 2006
Moved Greystar's headquarters to Charleston, South Carolina in 1998
Acquired Homegate Hospitality in 1996, a developer of extended-stay hotels
Led major acquisitions including Education Realty Trust in 2018, making Greystar the second largest student housing provider in the US
Expanded Greystar's business beyond multifamily rental properties into life sciences, purpose-built single-family rentals, and industrial sectors
As of November 2021, Greystar is the largest operator of apartments in the United States

Recognition and Affiliations

Member of the Urban Land Institute and the National Multifamily Housing Council as of 2005
Nominated to the real estate group of the Great American Economic Revival Industry Groups in 2020
Ranked #32 on the Commercial Observer Power 100 list of commercial real estate's most powerful people in 2022
Listed on the Observer's 59 most powerful people in residential real estate in 2018

Personal Life

Resides in Charleston, South Carolina with his family
Married to interior designer Muffie Faith
Has three children

How long would it take you to become as rich as Bob Faith?

If you started with $10,000 and invested an additional $500 each month at a 43.94% CAGR, it would take you 5 years to reach Bob Faith's net worth of $6.01B.

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 43.45% compared to 12.43% for the S&P 500 benchmark.

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

Bob Faith 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 Bob Faith, Real Estate Management 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