Donald Soffer is one of the American billionaires known for his significant contribution to the real estate industry. The businessman has an impressive portfolio of properties, making the Soffer family one of the richest in the history of America.
Who is Donald Soffer?
Donald is an American businessman born on September 20, 1932, in Duquesne, Pennsylvania. Since Donald’s early life, he was full of ambition and determination, making him one of the wealthiest investors later in life.
Donald grew up in a modern home where education was highly valued. Soffer received a football scholarship, attending Brandeis University, where he used the opportunity to hone his to pursue a major in economics.
Donald Soffer’s Career
Donald’s career began in Pittsburgh, working for Don Mark Realty in building shopping malls. Later, he formed a partnership that enabled him to acquire 785 acres of land in South Florida. Although the land was mostly swampland, it made him later a billionaire.
Donald was responsible for developing the project, and he named it Aventura and chose to build an upper-class development. The project was not a walk in the park, and it required the businessman to drain the swamps and re-zone the property from a residential single-family to a high-rise development.
Soffer partnered with the then-governor, and the project went ahead without many problems. A master plan condo of 23 900 was approved in 1969, and the construction of a fire station, library, and suitable amenities began soon.
The venture was very profitable, and the involved partners made huge profits compared to the initial capital. After Soffer’s father died in 1972, he took over the business in DonArt. Soffer’s partnership with Arlen Reality was dissolved over disputes about the construction quality, and Soffer claimed Arlen wanted to build too quickly and cheaply, which would ruin the brand.
As a result of the differences, the partnership was dissolved, and Soffer and his partners took over the remaining property and developed it as Arlen filed for bankruptcy. Soon, the Soffer were the sole real estate owners after the other partners sold their shares.
In the 1990s, Donald sold some of his properties. Later, his children took over the family enterprises, running them while Donald was retired. After twenty-five years of partnership, the Soffer siblings divided the company assets into two separate companies.
Jackie Soffer, Donald Soffer’s daughter, is the current CEO of Turnberry Associates, the development firm that Donald Soffer launched over five decades ago. As of July 2015, the Soffer family had a net worth of $4.2 billion.
Donald Soffer’s Personal Life
Donald Soffer is a successful businessman who has also had success in marriage. He was married five times, from whom he has seven children. While most of his children work in the family business, they have followed in their father’s footsteps, becoming successful real estate developers.
Donald is so generous, and he broke the records as the most generous donor of Brandeis University. He donated $15 million to the university in 2008, making it the most significant gift in the college’s history.
