Larry Silverstein net worth

Larry Silverstein net worth

Net Worth: $3.5 Million

About Larry Silverstein

Larry Silverstein net worth

It has been reported that the total estimate of Larry Silverstein net worth today reaches as much as 3.5 billion dollars, which makes him one of the richest businesspeople in the world.
The businessman was born in 1931 in Brooklyn. His first venture into business industry was founding a real estate company called Silverstein Properties with his father. In 1977, Larry Silverstein stopped collaborating with Bernard Mendik. Thus, in the end of the 1970s Larry Silverstein decided to start his own business and as a result he bought office buildings in the area of Lower Manhattan and Midtown.

In 1980, Larry Silverstein became a winner of a bid and as a result he got a chance to build 7 World Trade Center. However, he wanted to buy the whole World Trade Center Building and thus he participated in one more bid and won it. Thus, in 2001, he signed a lease for it. Therefore, this involvement has also been serving as one of the main sources of Larry Silverstein net worth.
However, the World Trade Center was attacked during the September 11 attacks, known to every person in the world. Larry Silverstein, after that, decided to rebuild the constructions that suffered from the mentioned attacks.

In 2007, the news were announced that the insurers were willing to pay out about 4.5 billion dollars for the renovation of the constructions. However, Larry Silverstein expected to receive a bigger amount of money.

In 2006, the agreement was reached in which it was stated that Larry Silverstein got rights to rebuild three office buildings, those being 150 Greenwich Street, 175 Greenwich Street and 200 Greenwich Street. However, One World Trade Center and the Tower Five went to belong to the Port Authority.

Giving some background information about Larry Silverstein, he grew up in a Jewish household. When he was little, he liked to listen to classical music and also enjoyed to play the piano. Later, he with his father got involved into real estate business.

As it has been mentioned previously, Larry Silverstein later started his own business and one of them was his involvement into the World Trade Center, which has also added up to the total size of Larry Silverstein net worth. As a real estate owner, Larry Silverstein is also known for his other buildings which are established in New York, such as 1177 Avenue of the Americas, 570 Seventh Avenue and 529 Fifth Avenue.

Now you have an idea why Larry Silverstein net worth is this huge

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