Net Worth: $1.2 Billion
- Source of Wealth Real Estate
- Marital Status Married to Susan Casden
- Full Name Alan I. Casden
- Nationality American
- Ethnicity Jewish
- Occupation CEO, Chairman and Founder of Casden Properties, LLC
- Education University of Southern California’s School of Accounting (BS and MBA)
- Children five children
About Alan Casden
Alan Casden is a self-made real estate investor and developer with an estimated net worth of $1.2 billion as of March 2012 according to Forbes. In 2011, he was the 359th richest person in the “Forbes 400” list and was ranked 1015th in the list of World Billionaires in 2012.
Born Alan I. Casden, he first enrolled at the University of California, Los Angeles but transferred to the University of Southern California to pursue accounting. He graduated cum laude from USC’s Leventhal School of Accounting in 1968 where he earned his Bachelor of Science and MBA. He went to work with Kenneth Leventhal & Company where it was a major accounting firm for large U.S. residential real estate developers. In 1969, he founded the company’s office in San Francisco. He also worked with apartment developer Robert Mayer. With the financial support from the Belzberg family of Canada, he was able to take control of the firm. He bought out the family’s interest in 1980 and it was renamed Casden Properties, LLC that is based in Beverly Hills, California. In late 2010, Casden Properties opened a 276-unit rental home development in Burbank. Casden is planning to develop an apartment and retail complex in West Hollywood.
After Casden broke up a year ago with investing partner Cerberus Partners, a New York private equity firm, his net worth was down by $700 million. In November 2010, the pair stopped making payments on their $30 million debt that they owe several properties in Los Angeles area. Lenders, led by Comerica bank, sued for mortgage foreclosure. Given the lawsuit, Forbes will no longer count the value of their properties despite their representatives saying that the properties will be brought out of deal once the dispute is settled.
Alan Casden also owns 3,100 luxury apartments in the LA area. In 2003, he attempted to buy the LA Dodgers. Once again, he is reportedly interested in buying the Major League Baseball franchise, one of the many billionaires bidding on the team, from embattled owner Frank McCourt.