Bloomberg Billionaires Index

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#218 Richard LeFrak $7.09B

Random fact: Served as judge at Miss Universe pageant and Apprentice TV show.


LeFrak owns LeFrak Organization, a real estate company with more than 400 buildings. The New York City-based business manages residential and commercial developments, including more than 4 million square feet of retail floor space. LeFrak Organization also has an energy division with interests in about 860 oil and gas wells.

As of July 23, 2017:
Last change -$5.19M (-0.1%)
YTD change -$20.2M (-0.3%)
Industry Real Estate
Biggest asset Real Estate
Citizenship United States
Age 71
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Richard LeFrak's net worth of $7.09B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of LeFrak’s fortune is derived from LeFrak Organization, a New York-based real estate developer. LeFrak organization has more than 400 buildings, more than 4 million square feet of retail floor space, and stakes in about 860 oil an gas wells, according to its website.

Each property is valued individually based on average annual occupancy rates, rent per square foot, and capitalization rates according to Real Capital Analytics, Marcus & Millichap, and Cushman & Wakefield. Known mortgage debt as aggregated by Real Capital Analytics has been subtracted from each property value.

Through LeFrak Organization, the billionaire also owns interests in approximately 860 on-shore producing oil and gas wells, and mineral interests across 10 states. The value of these oil, gas, and mineral interests was given by a person with knowledge of the company who preferred to remain anonymous in January 2016. Their value has been adjusted based on an S&P oil and gas index since then.

LeFrak owns about 9 percent of Dorchester Minerals, according to a 2016 proxy statement filed to the SEC. He also holds interests in Kennedy-Wilson Holdings and Bankunited. For Kennedy-Wilson and Bankunited, as the billionaire dropped below the 5 percent ownership level required for reporting, the stakes he held prior to that point are used.

Steve Solomon, a spokesperson for LeFrak Organization, said that the billionaire declined to comment on his net worth.


Birthdate: 8/29/1945
Family: Married, 2 children
Education: 1998, Columbia Graduate School of Business 1967, Amherst College, Graduated

Born into one of New York City's most prominent real estate families, Richard LeFrak began working for the LeFrak Organization after graduating from Amherst College in 1967. He became president in 1975 and took over as chairman and chief executive officer after his father, Sam LeFrak, died in 2003. His grandfather, Harry LeFrak, immigrated to the U.S. from Palestine in 1900, and began developing real estate in Brooklyn. The family grew to prominence after Harry's son, Sam, developed LeFrak City in the 1960s, a 42-acre housing complex in the borough of Queens, New York.

Richard LeFrak's main contribution to the family business is developing the Newport community in Jersey City, New Jersey, across the river from Manhattan. Construction began on the development in 1986, and when completed, it is expected to house more than 30,000 residents situated along 1.5 miles on the Hudson River. LeFrak's sons, Harrison and James, work as executives at the company, and represent the fourth generation of LeFraks in the real estate business.

  • 1945 Richard LeFrak is born in New York.
  • 1948 Father, Sam, takes over as president of LeFrak Organization from Harry.
  • 1960 Sam starts development of LeFrak City in Queens, New York.
  • 1967 Graduates cum laude from Amherst College.
  • 1968 Joins the LeFrak Organization.
  • 1970 Receives law degree from Columbia Law School.
  • 1975 Becomes president of the LeFrak Organization.
  • 2003 Sam LeFrak dies; Richard replaces his father as chairman and CEO.