What is Alan Casden's Net Worth?
Alan Casden is an American self-made businessman who has a net worth of $1 billion. He rose to riches as a real estate developer who has built more than 90,000 multi-family apartments since the 1980s.
Born Alan I. Casden in 1945, he initially got enrolled the University of California, Los Angeles but transferred to the University of Southern California to study accounting. Once he took his BA and MBA from USC's Leventhal School of Accounting, he joined Kenneth Leventhal & Company, a major accounting firm for large U.S. residential real estate developers. Showing excellent skills in the field, he was the one to open the company's office in San Francisco in 1969.
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Later on, he accepted to work with apartment developer Robert Mayer and with the financial support from the Belzberg family of Canada, he eventually took over the firm. By 1980, he bought Belzberg family's entire interest and renamed the company Casden Properties, LLC.
With headquarters in Beverly Hills, California, Casden Properties has become one of the largest multi-family developers in the United States. He saw a decline of $700 million in his net worth from a year ago because of a protracted breakup with investing partner Cerberus Partners, a New York private equity firm. However, Casden still owns 3,100 luxury apartments in the Los Angeles area and has plans to develop an apartment and retail complex in West Hollywood. Furthermore, he is a collector of antique Jewish coins and one of a handful of billionaires attempting to buy the Los Angeles Dodgers.
