Matthew Bucksbaum & family’s profile picture

Matthew Bucksbaum & family

Matthew Bucksbaum & family’s profile picture
Net worth 2018: $1.2 Billion
Industry: Real Estate
Country: United States
BirthDay: 20 February 1926
Sigh: Pisces
Died On: 24/11/2013
Children: 2
Education: Bachelor of Arts / Science, University of Iowa
BIOGRAPHY

Matthew Bucksbaum & family was bornon 20 February 1926 in United States. Hit hard by the credit crisis, Bucksbaum's General Growth Property filed the largest real estate bankruptcy in U.S. history. It has since restructured billions in debt but neither Matthew nor his son, John, are part of the business any longer. Matthew and his brother started GGP in 1954. By 2007, GGP was the nation's second-largest REIT, owning 200 million square feet across 194 malls and planned communities in 44 states. John Bucksbaum served as CEO from 1999 to Oct. 2008. He is no longer on the board, but family still owns a chunk of the mall giant.

NET WORTH STATISTIC
2010

$1.1 Billion

2011

$1.2 Billion

2018

$1.2 Billion

TIMELINE
2013

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

2008

In 2008, General Growth filed for Chapter 11 bankruptcy protection after the collapse of the stock market

2007

By 2007, General Growth was the second-largest REIT owning 194 malls with over 200 million square feet in 44 states

2004

In 2004, General Growth purchased The Rouse Company for $14

1999

Their son, John Bucksbaum, served as CEO of General Growth Properties from 1999 to 2008, and as its Chairman from 2007 to 2010

1995

In 1995, his brother Martin died and he re-located the company to Chicago

1984

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

1972

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

1964

By 1964, their company - then named General Management - owned five malls anchored by the Younkers department store

1960

They expanded into enclosed malls which mirrored the continued movement to the suburbs seen in the 1960s

1954

In 1954, Bucksbaum and his brother Martin borrowed $1

1949

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

1926

Matthew Bucksbaum (February 20, 1926 – November 24, 2013) was an American businessman and philanthropist

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