The Richest People In America: Samuel Zell

AP Photo/Damian Dovarganes

#73 Samuel Zell

$5.0 billion
Source: real estate, private equity

The grave dancer meets "the deal from hell." Took control of Tribune Co. (nyse: TRB - news - people ) last December in $8.2 billion deal done with media giant's employees. Colossal debt, massive declines in ad revenue forcing firm to sell off assets. Sold majority interest in New York tabloid Newsday to Cablevision (nyse: CVC - news - people ) in April for $650 million. Pro baseball's Chicago Cubs—and Wrigley (nyse: WWY - news - people ) Field—now for sale; Mark Cuban reportedly offered $1 billion. Made first fortune buying and selling cheap real estate from distressed owners with partner Robert Lurie (d. 1990). Sold Equity Office Properties to Stephen Schwarzman's Blackstone Group (nyse: BX - news - people ) for $39 billion cash in 2007. Still owns large stakes in Equity Residential (nyse: EQR - news - people ) and Equity Lifestyle REITs. Other investments: housing developments, office parks in China, shopping malls in Brazil.

Complete List The Richest People In America

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