How Much Does an Average CEO of a Real Estate Firm Make?

 


A rash of bad headlines and protests have targeted some of America’s biggest public companies over their exorbitant CEO pay. Democratic presidential candidate Bernie Sanders has pushed the issue as a key dividing line between Wall Street and Main Street.

Despite these tumultuous times, many of the nation’s real estate executives are still raking in top dollar. This may change as more public firms realize that lavish executive compensation can become a PR nightmare when the housing crisis takes hold.

The Real Deal’s Top 10 Highest-Paid Real Estate CEOs

Best Real estate is a lucrative industry and its players are among the best-paid in the business. But just how much does an average CEO of a real estate firm make?



A new report by S&P Global Market Intelligence surveyed REIT chief executives and found that their compensation packages top the $15 million mark. The report also found that half of these chiefs took home less than their predecessors.

The richest of the bunch is Orange County, California-based Donald Bren, whose real estate empire spans more than 126 million square feet across southern California and the state of Florida. His triumvirate of office, retail and residential properties has boosted his net worth by nearly $1 billion in just the last 12 months. Another big winner is Chicago-based gambling and real estate mogul Neil Bluhm, whose shares in publicly traded online gaming outfit Rush Street Interactive have made him $2.4 billion richer this year.

Howard Lorber

Howard Lorber is the president and CEO of Vector Group, which owns New Valley, a real estate-focused investment firm that invests in high-end condos. He also owns a majority stake in Douglas Elliman, one of the largest real estate brokerages in the United States.

Lorber is an avid sports fan and has a long history of philanthropy. He is a trustee of Mount Sinai Medical Center in Miami; a trustee of Alpha Epsilon Pi; and a member of the Citi Private Bank North American Advisory Board.

He is a well-known member of President-elect Donald Trump’s economic team. He also appears as a mentor on Bravo’s “Million Dollar Listing New York” and lives in a tony Sherry Netherland building at the foot of Central Park.

Sandeep Mathrani

Sandeep Mathrani is the new CEO of WeWork, the office-sharing company that lost a lot of money last year and was forced to go public after being taken over by Japanese tech investor SoftBank. He is replacing Adam Neumann, who was reportedly ousted from the role in September 2019.

Sandeep Mathrani has been a real estate executive for over two decades and was most recently the CEO of Brookfield Properties’ retail division. He brings to the job extensive leadership experience and a track record of driving meaningful growth that will help WeWork turn around.

Hamid Moghadam

Having been born and raised in Tehran, Iran, Moghadam came to the United States when his father passed away. He enrolled at MIT, where he received a bachelor’s and master’s degree in engineering.

In 1983, he co-founded AMB Property Corporation and led the firm through an initial public offering in 1997 and its merger with Prologis in 2011.

He has served on the boards of Stanford Management Company (former Chair), Stanford Health Care and the Stanford Graduate School of Business. He also is a trustee emeritus of Stanford University.

In 2011, Moghadam orchestrated a merger of equals between AMB and ProLogis, creating the world’s largest logistics real estate company. As CEO, he is responsible for the strategic leadership of Prologis.

Stephen Schwarzman

Schwarzman established Blackstone with Peter Peterson in 1985, beginning a private equity firm that has now grown to be one of the world’s leading buyout firms. Blackstone has a broad portfolio of investments across asset classes, including private equity, real estate and hedge funds.

In 2020, Blackstone’s CEO Stephen Schwarzman pocketed at least $610.5 million from dividends and compensation — more than any other private equity executive. He also got a big bump from Blackstone’s hefty profit from carried interest payments and dividends, regulatory filings show.

However, housing activists have slammed Schwarzman and Blackstone for using their vast wealth to influence the No on Prop 21 ballot measure in California. The measure aims to rein in corporate landlords like Blackstone and prevent them from boosting rents in an effort to drive down prices.

 

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