What is Alan Casden's Net Worth?
Alan Casden is an American self-made businessman with an estimated net worth of $1 billion. He accumulated his wealth as a renowned real estate developer, having built over 90,000 multi-family apartments since the 1980s.
Early Life and Education
Born Alan I. Casden in 1945, he began his academic journey at the University of California, Los Angeles. He later transferred to the University of Southern California (USC), where he pursued accounting. Casden earned both his BA and MBA from USC's Leventhal School of Accounting. His exceptional skills led him to join Kenneth Leventhal & Company, a major firm known for its work with large U.S. residential real estate developers. In 1969, Casden opened the company's San Francisco office.
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Career and Business Ventures
Casden's career took a significant turn when he collaborated with apartment developer Robert Mayer. With financial backing from the Belzberg family of Canada, he eventually took over the firm. By 1980, Casden had bought out the Belzberg family's entire interest, subsequently renaming the company Casden Properties, LLC.
Headquartered in Beverly Hills, California, Casden Properties has grown to be one of the largest multi-family developers in the United States. Despite a $700 million decline in his net worth due to a protracted breakup with investing partner Cerberus Partners, a New York-based private equity firm, Casden still maintains ownership of 3,100 luxury apartments in the Los Angeles area. He also has plans to develop an apartment and retail complex in West Hollywood.
Personal Interests and Endeavors
Beyond his real estate empire, Alan Casden is a passionate collector of antique Jewish coins. Additionally, he is one of the few billionaires interested in purchasing the Los Angeles Dodgers, showcasing his diverse interests and dedication to significant ventures.
