Bloomberg Billionaires Index

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#478 Ted Lerner $4.02B

Random fact: Raised by Orthodox Jewish parents in Washington D.C.


Lerner is the owner of Lerner Enterprises, a Rockville, Maryland-based real estate development, management and investment company. His closely held properties include 10 million square feet of office space, more than 10 retail centers, about 5,000 rental apartments and four hotels located in Maryland, Virginia, and Washington D.C.

As of July 28, 2017:
Last change No change
YTD change +$142M (+3.7%)
Industry Real Estate
Biggest asset Lerner Enterprises
Citizenship United States
Age 91
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Ted Lerner's net worth of $4.02B 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 Lerner's fortune is derived from his family's sole ownership of Lerner Enterprises, a closely held Rockville, Maryland-based real estate development company. Lerner's office and retail properties encompass more than 10 million square feet in Maryland, Virginia, Washington D.C. The combined net asset value of these properties is about $2.3 billion, including office properties in Tysons Corner, Virginia, and partial ownership of New York's Chelsea Piers.

His residential properties consist of more than 5,000 housing units spread out over 16 apartment communities in Maryland and Virginia. The combined net asset value of these properties is about $466 million. Lerner's four hotels -- two in Virginia, two in Maryland -- have a combined net asset value of about $188 million.

Occupancy rates, rent per square foot and capitalization rates for Lerner's real estate were aggregated using data compiled by Real Capital Analytics, a commercial property database, and four real estate consultancy and brokerage companies: Cushman & Wakefield, CBRE, JLL and Colliers International. Each property has been individually valued.

The billionaire also owns the Washington Nationals professional baseball team. The team is valued at $1.4 billion based on discussions with Marc Ganis, president of sports consultancy Sportscorp. The billionaire has about $300 million in loans through two bond issuances related to the team.

Ed Cohen, a company spokesperson and a principal owner of the Washington Nationals confirmed the valuation but said that he did not know the exact value of the Nationals.


Birthdate: 10/15/1925
Family: Married, 3 children
Education: 1950, George Washington University Law School, LLB 1948, George Washington University/The, Associate's Degree

Ted Lerner was born to an Orthodox Jewish family in Washington D.C in 1925. His parents, Mayer and Ethel, immigrated to the U.S in the 1920s. He served as a typist in the U.S. Army after finishing high school and, following the end of WWII, enrolled at George Washington University, where he graduated with a law degree in 1949.

Lerner borrowed $250 from his wife in 1952 to start a real estate company. Over the next six decades, he expanded the business from a single apartment building into one of the largest closely held real estate development companies in the U.S. Early projects included the shopping mall and office developments at Tysons Corner, Virginia, in the 1950s and 1960s, and developments such as Washington Square in Washington D.C., and the Chelsea Piers in New York. He bought the Washington Nationals professional baseball team for $450 million in 2006.

In 2015, Lerner was awarded a lifetime achievement award from the Urban Land Institute for his contributions for his contributions to the community and charitable giving.

Lerner has been married to his wife Annette for more than 60 years. The couple lives in Chevy Chase, Maryland, and have three children and 9 grandchildren.

  • 1921 Mayer Lerner emigrates from Palestine to the U.S.
  • 1925 Theodore Lerner is born to an Orthodox Jewish family in Washington D.C.
  • 1944 Graduates from high school. Starts working as a typist in the U.S. Army.
  • 1948 Meets Annette Morris, his future wife, at a fraternity dance.
  • 1949 Enrolls in George Washington University and graduates with a law degree.
  • 1952 Borrows $250 from wife to start a real estate development company.
  • 1983 Fires brother from company. The termination leads to decades of litigation.
  • 2006 Buys the Washington Nationals professional baseball team for $450 million.