Larry Silverstein was born on May 30, 1931 in Bedford–Stuyvesant, Brooklyn, USA, of Jewish descent. He started his career in business in the 1950s. Then, along with his brother–in-law Bernard Mendik, Larry co-founded Silverstein Properties, a real estate company, In the late 1970s Larry Silverstein decided to focus on his own business, and subsequently Larry is best known for developing The World Trade Center.
So just how rich is Larry Silverstein? Sources have estimated that Larry Silverstein’s net worth reaches up to $3.5 billion, most of it accumulated through his business dealings in real estate.
Larry Silverstein Net Worth $3.5 Billion
Larry Silverstein attended the High School of Music and Art in New York, and then New York University graduating in 1952. He subsequently studied at Brooklyn Law School. Silverstein became involved in real estate, with his father, Harry G. Silverstein, and then friend and brother-in-law, Bernard Mendik, establishing Silverstein Properties, as Harry G. Silverstein & Sons, in 1957, and buying their first building in Manhattan. Mendik and Silverstein continued the business after Harry’s death in 1966, at first buying a few office buildings located in Midtown and Lower Manhattan. In 1983, these were sold to Coca–Cola for $57.6 million.
When the World Trade Center was destroyed during the terrorist attack on 11 September, 2001, Larry decided to fix and rebuild everything. There are no doubts the great amount of Larry Silverstein’s net worth let him to do this, including investing a huge amount of money in the renovation. It is certainly true that $4.5 billion was needed for the project, although Larry has stated this was a lower sum than he expected. Hence, in 2006 it was legally agreed to let Larry Silverstein rebuild three office buildings located in Greenwich Street, in particular numbers 150, 175 and 200. It is true that the involvement in the redevelopment of the World Trade Center has been one of the main sources of Larry Silverstein’s net worth.
Larry Silverstein increased the total amount of his net worth with other investments including buildings located in New York: 570 Seventh Avenue, 529 Fifth Avenue, 11 77 Avenue. Larry also owns a few properties in Washington DC. He is also governor of the Real Estate Board of New York.
As regards his personal traits, when Larry was a child he was keen on classical music and played the piano. When he was a student and worked in a summer camp, he met his wife Klara, a school teacher They married in 1956 and welcomed three children. At first Larry Silverstein did not have a great amount of net worth, and Klara worked hard for the family to survive. A couple of years later, Larry became a leading success in business, but the couple divorced in 1977.
Larry Silverstein is also a famous philanthropist, being a founder and chairman of New York University`s Real Estate Institute. He has also been a chairman of the United Jewish Appeal in New York, a treasurer of the National Jewish Medical and Research Center and a chairman of the Realty Foundation.
