The Richest People In America: Richard LeFrak & family

Steve Friedman © 2006

#81 Richard LeFrak & family

$4.5 billion
Source: real estate

Grandfather Harry moved to New York in early 1900s, created glassworks for Louis Comfort Tiffany (nyse: TIF - news - people ). Began developing real estate 1901. Father, Sam, expanded in New York City and New Jersey; built LeFrak City in Queens 1959. Richard joined family business in 1970s, became chairman after dad died in 2003. Portfolio includes 5,000 apartments in LeFrak City, 16-million-square-foot commercial, residential, retail complex in Newport, N.J. Newport "mini-city" will soon include 429-room Westin hotel, 2 new residential towers. Diversifying into Los Angeles, London real estate; owns interests in oil and gas wells.

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