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For more than two decades, Alfred Taubman has made it to the list of Forbes 400 Richest Americans. This University of Michigan-dropout started the Taubman's Centers in 1950. Today, his Mall at Short Hills, which is based in New Jersey, is considered as one of the most profitable shopping centers in the country. In 1982, he purchased the A&W restaurant which he later sold to Sagittarius Acquisitions in 1994. In the 1990s to early 2000s, he invested in a real estate investment firm which is owned and managed by his stepdaughter's husband Louis Dubin.
Aside from his impressive success in business, Alfred Taubman is also known for his philanthropic works. In fact, he is considered as the largest donor in the University of Michigan. Many existing buildings in the university are actually named after him such as the Taubman Health Sciences Library, Taubman Health Care Center and A. Alfred Taubman Biomedical Science Research Building.
Alfred Taubman had an estimated net worth of $3.1 billion.
Earnings & Financial Data
|
Date |
Category |
Description |
Amount |
|---|---|---|---|
|
2015 |
Sale of Asset |
Estimated value of a vast trove of artworks of late billionaire collector A. Alfred Taubman that ranges from antiquities to modern classics that went under the hammer at Sotheby’s |
$500,000,000 |
|
2011 |
Earning Turned Donation |
Alfred Taubman's lifetime donation to the University of Michigan |
$141,000,000 |
|
2009 |
Earning Turned Donation |
Donation for the restoration and remodeling of what once was the General Motors Argonaut Building |
$15,000,000 |
|
2005 |
Sale of Asset |
Sale of Alfred Taubman's controlling stake in Sotheby’s |
$217,000,000 |
|
1990 |
Asset |
Alfred Taubman's invesment in the development of two major projects in Manhattan, an office and retail tower on Fifth Avenue, a 35- story office building one block west near Sixth Avenue, two huge Taubman malls in Denver and Nashville as well as the second phase of their riverfront apartment complex in Detroit. Bloomfield Hills, Detroit's highest-priced suburb that remains Taubman's business and personal headquarters |
$520,000,000 |
|
1990 |
Earning Turned Donation |
Alfred Taubman's donation to three universities for buildings and new courses of study |
$40,000,000 |
|
1985 |
Earning Turned Donation |
Funds Alfred Taubman contributed to acquire Jasper Johns painting, ''Three Flags,'' from the Pace Gallery |
$1,000,000 |
|
1985 |
Asset |
Alfred Taubman's winning bid for the Sotheby Parke Bernet Group |
$124,800,000 |
|
1985 |
Asset |
Purchase value of the ''21'' Club, New York's famed big business pub |
$21,000,000 |
|
1983 |
Earnings |
Profit from the sale of the 77,000-acre Irvine Ranch in Southern California |
$400,000,000 |
|
1983 |
Sale of Asset |
Sale of Alfred Taubman's 77,000-acre Irvine Ranch in Southern California |
$1,000,000,000 |
|
1977 |
Asset |
Purchase value of Alfred Taubman's 77,000-acre Irvine Ranch in Southern California |
$337,400,000 |