Donald Soffer was born on 20 September 1932, in Duquesne, Pennsylvania USA, of Jewish descent, and is an investor, businessman and philanthropist, best known for developing the Florida swampland into the city of Aventura. He’s been a successful real estate developer over the course of his life, and all of his efforts have helped put his net worth to where it is today.
How rich is Donald Soffer? As of mid-2017, sources estimate a net worth that is at $4.2 billion, mostly earned through a successful career in businesses and investing, in particular helping to develop and sell numerous high valued real estate projects., and all of these achievements have ensured the position of his wealth.
Donald Soffer Net Worth $4.2 billion
Donald attended Brandeis University on a football scholarship, and graduated in 1955 with a degree in economics.He then returned to Pittsburgh to work for Don Mark Realty, which was a partnership founded by his father. In 1965, he helped build South Hills Village which was the first indoor mall of Pittsburgh, and two years later, the renamed Oxford Development Company would then create the DonArl Partnership, and by 785 acres of South Florida swampland for $6 million.
Soffer’s net worth increased significantly thanks to success of numerous projects, so he was then given primary responsibility to develop the Swampland, originally called Turnberry, later renamed to Aventura which is Spanish for adventure. A country club with a golf course surrounded by a classy residential development was created, by draining the swamps and rezoned the property to high rise development. He had support from Governor Claude Kirk which helped the development. In 1969, a master plan was approved to create a fire station, library, causeway, and a condo unit area in total, and.the first stage was completed a year later, followed in 1977 by the golf course as well as 4000 more condo units. The project proved successful, and so skyrocketed his personal net worth too.
Donald took control of the family interest in DonArl after his father passed. The partnership with Arlen Realty was dissolved after 1977, and he then created Turnberry Associates out of his share of the company. In 1983, Arlen Realty went into Chapter 11 bankruptcy, leading Soffer to purchase the remaining undeveloped land in Aventura. Other partners also sold their interest to the Soffer, and he then created Turnberry Isle Resort which attracted many wealthy individuals; he also chartered a fleet of yachts at the Turnberry Isle marina to attract clientele. In 1988, half his interest in Turnberry Isle Resort was sold to Rafael Hotels for $20 million, and the remainder during the 1990s. Eventually, his children would start taking over operations.
For his personal life, it is known that Soffer is now married to Michele King, but has married five times and has seven children. Three previous marriages were to Carol Miller, Patricia Jo Hogue, and Marjorie Wallace. Several of his children work for the family business. He’s also donated to numerous organizations, and does charity work, notably donating $15 million to Brandeis University which is the largest gift in the college’s history.
