Matthew Bucksbaum & family
Real Estate

Matthew Bucksbaum & family Net Worth

Matthew Bucksbaum and his family were born in the United States in 1926. In 1954, Matthew and his brother started General Growth Property (GGP), which became the nation's second-largest real estate investment trust (REIT) by 2007. However, the company was hit hard by the credit crisis and filed the largest real estate bankruptcy in U.S. history. After restructuring billions in debt, Matthew and his son, John, are no longer part of the business. John served as CEO from 1999 to 2008 and is no longer on the board, but the family still owns a portion of GGP.
Matthew Bucksbaum & family is a member of Real Estate

Age, Biography and Wiki

Birth Day February 20, 1926
Birth Place United States
Age 94 YEARS OLD
Died On November 24, 2013(2013-11-24) (aged 87)\nChicago
Birth Sign Pisces
Cause of death complications from Alzheimer's disease
Education B.A. University of Iowa
Occupation Real estate developer
Known for Co-founder of General Growth Properties
Spouse(s) Carolyn Swartz
Children John Bucksbaum Ann Bucksbaum
Parent(s) Ida Gervich Louis Bucksbaum
Family Martin Bucksbaum (brother) Maurice (brother)
Allegiance United States
Service/branch United States Army Air Forces
Years of service World War II
Unit Fifth Air Forces Cryptographer
Battles/wars Southwest Pacific Area New Guinea campaign

💰 Net worth: $1.2 Billion (2024)

Matthew Bucksbaum and his family have made a significant impact on the United States' real estate industry, amassing a fortune estimated to be around $1.2 billion by 2024. Matthew Bucksbaum, along with his family, has played a key role in shaping the landscape of real estate in the country through successful investments and developments. Their astute business acumen has allowed them to navigate the market and create wealth over the years, firmly establishing themselves as prominent figures in the industry. With their vast experience and substantial net worth, the Bucksbaum family continues to have a lasting influence on the real estate sector in the United States.

2010 $1.1 Billion
2011 $1.2 Billion
2018 $1.2 Billion

Biography/Timeline

1949

Bucksbaum was born to a Jewish family in Marshalltown, Iowa, to Ida (Gervich) and Louis Bucksbaum. During World War II, he served in the Army Air Forces in the Southwest Pacific Theatre as a cryptographer based in New Guinea. He graduated from the University of Iowa cum laude with a Bachelor of Arts in Economics in 1949, where he was a member of the Phi Beta Kappa Society and the Order of Artus. His family owned a chain of three grocery stores.

1954

In 1954, Bucksbaum and his brother Martin borrowed $1.2 million and built the first shopping center in Cedar Rapids, Iowa, anchored by a fourth family grocery store. They expanded into enclosed malls which mirrored the continued movement to the suburbs seen in the 1960s. By 1964, their company - then named General Management - owned five malls anchored by the Younkers department store. In 1972, the company became publicly traded on the New York Stock Exchange under the name General Growth Properties (NYSE: GGP) and became the second-largest owner, developer, and manager of regional shopping malls in the country. Bucksbaum served as its Chairman and Chief Executive Officer and under his tenure, he formed two Real estate investment trusts and expanded the company's portfolio of malls and shopping centers via more than $36 billion in acquisitions. In 1984, General Growth sold 19 malls for $800 million to Equitable Real Estate, which was deemed the “nation’s largest single asset real estate transaction” to date. In 1995, his brother Martin died and he re-located the company to Chicago. In 2004, General Growth purchased The Rouse Company for $14.2 billion. By 2007, General Growth was the second-largest REIT owning 194 malls with over 200 million square feet in 44 states. In 2008, General Growth filed for Chapter 11 bankruptcy protection after the collapse of the stock market.

1999

He was married to Carolyn (Swartz) Bucksbaum, who was also Jewish. They had two children. Their son, John Bucksbaum, served as CEO of General Growth Properties from 1999 to 2008, and as its Chairman from 2007 to 2010. Their daughter Ann Louise Bucksbaum is married to Journalist Thomas Friedman. They resided in Chicago. As of March 2011, he was worth an estimated US$1.2 billion.

2013

He died in Chicago of complications from Alzheimer's disease on November 24, 2013.

Some Matthew Bucksbaum & family images

About the author

Lisa Scholfield

As a Senior Writer at Famous Net Worth, I spearhead an exceptional team dedicated to uncovering and sharing the stories of pioneering individuals. My passion for unearthing untold narratives drives me to delve deep into the essence of each subject, bringing forth a unique blend of factual accuracy and narrative allure. In orchestrating the editorial workflow, I am deeply involved in every step—from initial research to the final touches of publishing, ensuring each biography not only informs but also engages and inspires our readership.