What is Scott D. Malkin's Net Worth?
Scott D. Malkin is a lawyer and businessman who has a net worth of $400 million. Scott D. Malkin founded Value Retail, a company that creates and operates outlet centers on the outskirts of major cities. The company has locations, called "Villages," in New York, Europe, and China. Among his other endeavors, Malkin is co-owner of the NHL's New York Islanders, having taken controlling interest in the team with Jon Ledecky in 2016.
Early Life and Education
Scott David Malkin was born in 1959 to Jewish parents Isabel and Peter. His father, a real estate investor in New York, once owned the Empire State Building. Malkin's grandfather Lawrence Wien was also a real estate investor; he pioneered the concept of real estate syndicates. Malkin was raised in Connecticut with his sister Cynthia and his brother Anthony. For his higher education, he attended Harvard University, from which he obtained his bachelor's, JD, and MBA degrees.
Value Retail
After moving to London, England, Malkin founded the company Value Retail in 1992. With Value Retail, he combined his experience selling luxury goods with the American outlet mall concept, establishing an alternative operating model to the traditional shopping center seen in Europe. The idea was to create outlet centers on the outskirts of major cities that would sell excess stock of luxury fashion brands at discounted prices. Value Retail does this through its "Villages," large, open-air pedestrian streets with shops that offer curated selections of name brands. The company has destinations throughout Europe, including in areas around London, Dublin, Milan, Barcelona, Munich, Paris, and Brussels. There are also Value Retail Villages in New York and China. Value Retail has over $2 billion in sales.
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New York Islanders
In 2014, Malkin and his former college roommate Jon Ledecky bought the NHL hockey team the New York Islanders from Charles Wang. They spent two years as minority owners before purchasing controlling interest in 2016.
Personal Life
In 1984, Malkin married Laura Russell. His sister Cynthia Malkin is married to US Senator Richard Blumenthal.
