American real estate tycoon Ted Lerner has an estimated net worth of $5.7 billion as of June 2016, according to Forbes. According to Forbes.com, he is #329 in the World Billionaires List, #344 in 2012, #106 in the United States, and #100 in the Forbes 400 List. He is considered one of the richest people in Maryland. Born Theodore N. Lerner on October 15, 1925, in Washington, D.C., he served with the U.S. Army through the end of World War II after he graduated high school in 1943. He then went to The George Washington University where he received his Associate of Arts. He later earned an LLB from The George Washington Law School.

In 1952, former lawyer Ted Lerner founded the real estate business Lerner Enterprises. He borrowed $212 from his wife to start the business and it has grown into the largest private land ownership in the D.C. region. Currently, the firm owns 20 million square feet of commercial and retail space, 7,000 apartments and 750 private home lots. He is also developing hotels, apartments, and offices in the suburbs of Virginia and Maryland. In addition to their portfolio, Lerner Enterprises continues with developing multiple properties in Tyson’s Corner and Dulles Town Center.

Aside from real estate, Lerner also owns a stake in Mid-Atlantic Sports Network, a regional broadcast network. He is also the majority owner of the Washington Nationals baseball team with 90% controlling shares. Its Washington Nationals Dream Foundation has committed $2 million for the pediatric diabetes wing at the Children’s National Hospital in D.C. The Lerner Family Foundation also gave $5 million to the Lerner Family Health and Wellness Center at The George Washington University and anther $10 milion to the Lerner Family Sports Center at Hebrew University in Jerusalem.