Donald Bren Net Worth $15.2 billion
Donald Bren salary $50,000,000
Donald Bren Net Worth: How rich is Donald Bren? & How much money is Donald Bren worth? Time to find out!
Donald Bren is an American businessman and his current net worth is $15.2 billion.
Born in Los Angeles, California, as the son of Marion, a prominent civic leader, and Milton Bren, a successful movie producer, and naval officer, his parents divorced in 1948.
Both of his parents remarried his father in 1948 to actress Claire Trevor, and his mother in 1953, to steel businessman Earle M. Jorgensen.
Growing up, he graduated from the University of Washington, from where he received a bachelor’s degree in business administration and economics.
In 1956, he tried out for the Olympic ski team, but became of an injury, he didn’t qualify.
After finishing college, he enrolled as an officer in the United States Marine Corps. Two years later, he built his own house in Newport Beach, with a $10,000 loan.
How did Donald Bren get famous?
The same year he started his career when he founded the Bren Company. His company used to build homes in Orange County, California.
Few years later, he and two others started the Mission Viejo Company (MVC), and bought 10,000 acres to develop the city of Mission Viejo, California.
Between 1963 and 1967 he served as the president of MVC, and sold his company, Bren Co, for $34 million to International Paper. Two years later, the company sold Bren Co., back to him for $22 million, following the recession.
How does Donald Bren make money?
He took advantage of the proceeds and in 1977 he joined a group of investors to purchase the 146-year-old Irvine Company.
He became the largest shareholder after the resulting consortium, receiving the Vice-chair of the board.
By 1983, he became the majority owner of the company, as well as the chairman of the board. Then in 1996, he bought out all outstanding shares to become the only owner.
In 2015, Forbes ranked him as the wealthiest real estate developer in the US and the 30th Richest American, with an estimated net worth of $15.2 billion.
It is believed that the Irvine Company owns more than 115,000,000 ft.² of real estate – the majority of which is located in Southern California.
Several hotels, marinas, golf courses, 60,000 apartments, more than 40 shopping centres and 500 office buildings make up the property portfolio.