Donald Bren Net Worth
Donald Bren, the chairman of the Irvine Group, has a net worth of $17 billion dollars according to Forbes. He is known for his involvement in California real estate as a master planner, builder, and long-term investor. Bren made most of his fortune from Irvine Co., the largest private landowner in California. The company owns 46.5 million feet of office property, 160 apartment complexes, retail centers, golf courses, hotel resorts, and marinas.
Bren was born on May 11, 1932, in Los Angeles, California. He founded the Bren Company in 1958 to build homes in Orange County and later set up the Mission Viejo Company to plan and develop the city of Mission Viejo. Bren served as President of MVC from 1963 to 1967. International Paper acquired Bren Co. in 1970 for $34 million, but Bren re-acquired MVC for $22 million in 1972 after a recession.
In 1977, Bren joined a group of investors to purchase the Irvine Company. He was the largest shareholder of the consortium, owning 34.3% of the company and became Vice-chair of the board. By 1983, he was the majority owner and was elected chairman of the board. By 1996, he had bought out all remaining shares to become the sole owner.
Under Donald Bren’s leadership, the Irvine Company has built up a property portfolio exceeding 100 million square feet. The portfolio includes 480 office buildings, 41 retail centers, 125 apartment communities, three hotels, marinas, and golf clubs, primarily in Orange County, California, with additional investment properties in Los Angeles, San Diego, and Silicon Valley.
Bren is also known for his philanthropic activities and has donated over $1 billion dollars to various charities and foundations. He focuses his charitable contributions on land preservation and conservation, as well as education and research.