Bren started his early career as an Officer of the U.S. Marine Corps and reportedly served there for three years.

Married Claire Trevor, an Academy Award-winning American actress, after divorcing Marion Bren.

He was the largest shareholder of the resulting consortium, owning 34.3% of the company and as such he got the title of Vice-chair of the board. Some of them were iconic figures in American business,includingHenry Ford II, Milton Petrie, Max Fisherand Herbert Allen Sr. Many universities in and around California have benefited from donations made by the Donald Bren. Not Donald. Land donations to Orange County and California top 50,000 acres.

Today the company ownsmore than 110 million square feet of investment property, with a portfolio that includes500 office buildings, 41 retail centers, 130 apartment communities, five marinas, three hotelsand three golf courses in Orange County. His father, Milton, was a naval officer and successful movie producer while his mother Marion was a prominent civic leader. We welcome all corrections and feedback using the button below. Had a daughter together. Under his leadership, Bren grew the Irvine Company into a multi-billion-dollar real estate empire. 2022 Celebrity Net Worth / All Rights Reserved. Stakes in publicly traded companies are valued using the share's most recent closing price. Donald has received praise from many quarters for being pretty much the man who converted the world-famous and coveted Orange County region of the US to what it is today. Please view this page to access his biography. Died in 2000.

She was also a close friend of Ronald and Nancy Reagan.Bren's parents divorced when he had turned 16. Shortly after the acquisition, he borrowed $560 millionand quicklybought out the other shareholders. A Los Angeles native and former marine, Donald Bren started as a new home builder in Orange County, California. He subsequently joined the O'Neill family to form the Mission Viejo Company to build a master planned community. In 1977, Bren bought Irvine Company with other business partners for $337 million; he held nearly 34% stake in the company and served as the Vice Chairman. She was a model. Hollywood film producer. He's been married three times and has seven children. Endowed over 60 permanent distinguished professor chairs at the University of California and California Institute of Technology. During the last 40 years, under Brens leadership and vision, the Irvine Company has professionally planned and master built the all-new City of Irvine and the Newport Coast, creating one of Americas most desirable regions. He has been married 3 times and has 8 children. Prabook is a registered trademark of World Biographical Encyclopedia, Inc. src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=1495948&cache=false" alt="Other photo of Donald Bren" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=1495949&cache=false" alt="Other photo of Donald Bren" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=1495950&cache=false" alt="Other photo of Donald Bren" class="gallery__img" height="167", data-src="/web/show-photo.jpg?id=1495948&cache=false" This allowed the company to reinvest its cash flow back into the business, and not compromise the long term process of establishing large communities with short term financial commitments. She was also a close friend of Ronald and Nancy Reagan. As master builders, we are blending architectural and planning skills, plus business and financial disciplines, to produce superbly balanced communities. He has also supported his close friend, Pete Wilson's Senate campaign. Other factors were also important in ensuring the success of this opportunity for Donald Bren. As of December 2017, Forbes ranks him as the richest real estate developer in the United States.

Owner of Bacchus Development filed for bankruptcy in 2009. Bren has been a real advocate for education, which is clearly visible from his generous financial support to schools and universities. Generous political donor gives to both sides of the political aisle. After graduating from college with a business degree, he started a property development firm that he eventually sold for millions. Newport Beach is renowned for its beautiful homes, perfect weather, brilliant dining and shopping experiences and the Orange County Airport. Ryan Lilyengren, a spokesman for Irvine Company, declined to comment on Bren's net worth. Appears to be interested in racing and is a two-time Long Beach Grand Prix winner. He starts at A and ends up at Z. Quotations: Sold Bren Company to International Paper for $34 million in 1969 and bought it back in 1972 for $22 million.

The couple has one child together, and appears to resides in Newport Beach, California.

How Zhang Xin Built a Real Estate Empire. Brens net worth is around $16 billion, which makes him on the 70th on the Forbes 500 list of 2020. Lifetime giving exceeds $625,000.

Within the first two decades since the takeover of the Irvine Company, Bren bought out all of his fellow partners,and, as a result, became the company's sole shareholder. As a result, theBren Company's size increased significantly over time. To keep their children grounded and unspoiled, Bren's parents enrolled him and his younger brother in public schools.

An overview of how Donald Bren became one of the wealthiest real estate investors in the world.

Given the challenges Donald Bren identifies for large scale community developments, it is easy to understand why The Irvine Company has expanded beyond Orange County, California and now owns a portfolio of properties in multiple markets.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. In 1976, Donald Bren and Joan Irvine Smith partnered with other real estate investors to acquire the Irvine Company. No debt has been applied to his raw land. Born in 1932, Bren grew up with wealthy parents who were both successful in their own right. In this success post, we are going to share the story of Donald Bren, an American businessman, real estate tycoon, investor, and philanthropist who is the richest real estate developer in the US. He serves on the board of trustees at California Institute of Technology and the Los Angeles County Museum of Art and is a fellow with the American Academy of Arts & Sciences.

Donald Brens success establishing a community in Mission Viejo drew the attention of Joan Irvine Smith. Donald Bren attributes his remarkable success to location, location, location. Donald Bren started building homes in Orange County, California. Mr. Bren would eventually partner with the ONeill family in the Mission Viejo Company in 1963. Daughter of Bren and his ex-girlfriend, Jennifer Mckay Gold. His mother remarried in 1953 to steel businessman Earle M. Jorgensen.

A liability of $2.6 billion is included to reflect a line of credit that Irvine Co. holds through bonds tracked by Bloomberg.

Donald Bren is Chairman of The Irvine Company.

By 1996, he became the sole owner of the company. As a community entrepreneur, Bren has also focused his charitable contributions on land preservation and conservation, as well as education and research. In addition to being the owner of a 93,000-acre ranch, the Irvine Company owns and operates a collection of residential, office and retail properties throughout California. Donald Bren owned close to 34% of the company, meaning he was the highest stakeholder. In 2004 Bren received the University of California Presidential Medal, the Universitys highest honor, because of his financial support throughout the years which at the time was more than $43 million.

Appears to have a son in the relationship. Born in Los Angeles, California, Bren earned a degree in economics and business administration from the University of Washington.

Donald Bren made his fortune in real estate.

This site uses Akismet to reduce spam. Two of Bren's kids lose lawsuit for $134 million in child support. These developments include communities in Westlake Village and Newhall Ranch. In 1948, married Milton Bren, who was her third husband. He ended up acquiring the company for $22 million. Born in 1932 in Los Angeles, Don is a California native. Copyright - Aequitas Information Technology Pvt.

He has had a lifelong career as a community developer in California, eventually becoming owner of the Irvine Company. The company had a vision of developing a master planned community on the Rancho Mission Viejo that had been in the ONeill family since the mid 1800s. Attorney served as a Co-Founder of International Strategic Planning, a consulting firm. She was nicknamed the "Queen of Film Noir." Donald Bren, Chairman of the Board of Irvine Company, has been deeply involved in California real estate as a master planner and a master builder for 50 years. Bren is a member of the board of directors and a life trustee of the California Institute of Technology and the Los Angeles County Museum of Art. DISCLAIMER: This website is provided by Opmetric Inc for educational and informational purposes only and should not be considered advice. Donald graduated from the University of Washington, where he received a bachelors degree in business administration and economics. It is the only land in California to receive both the California State and United States National Natural Landmark designation.

Bren describes himself as 'fiscal conservative and social moderate.' Information on this website is not guaranteed to be current, complete, or correct.

Gifted more than 57,500 acres for permanently preserved open space and parklands, creating the largest urban open space and parklands network in the United States. Completes buyout of Irvine Co. partners to become sole owner. To keep their children grounded and unspoiled, Bren's parents enrolled him and his younger brother in public schools. Bren and a group of investors bought a 34% stake in closely held Irvine Co. in 1977. Today he is the wealthiest real estate developer in the U.S.(See also:How Zhang Xin Built a Real Estate Empire.

Bren keeps a low public profile and as he explains, "I'm not a public official.

By using Investopedia, you accept our. Additionally, they were required to work during school vacations and help their father conduct repairs on his rental properties.He graduated from Beverly Hills High School in 1950.In 1956, Bren graduated with a bachelor's degree in Business Administration from the University of Washington. Donald Bren is the Chairman of Irvine Company. Bren followed the companys establishment by share acquisitions of the Irvine Company to become its sole owner and chairman. His charitable donations have exceeded the $1 billion value. All net worths are calculated using data drawn from public sources. Also Read: Suleiman Kerimov Biography: Success Story of Anzhi Makhachkala owner. Brens companys portfolio includes 125 apartment communities, 480 office buildings, 41 retail centers, five marinas, three hotels and three golf clubs. They successfully acquired the Irvine Company, the holding company that owned Irvine Ranch, with their bid of $337.4 million.

Founded one of the nations first graduate-level environmental schools, the Donald Bren School of Environmental Science and Management, at University of California, Santa Barbara. She was the second wife of Bren. Bren was also interested in taking over the property, but the money he made from the earlier sale of his company was not enough. At present, Bren owns high quality investment properties in Orange County, Los Angeles, San Diego and Silicon Valley.

He was also voted as one of the top ten philanthropists in the nation by Forbes. Bren alternates between homes in Newport Beach, Los Angeles and Sun Valley, Idaho. Copyright Information | Privacy Policy/Terms, California Institute of Technologys Highest Honor, Marine Corps University Foundations General Leonard F. Chapman. He and two partners started the Mission Viejo Co. (MVC) and purchased 10,000 acres to plan and develop the city of Mission Viejo, California, in 1963. After earning a bachelor's degree in business administration and economics, he started his business career in 1958 when he founded the Bren Company to build homes in Orange County, California. He has consistently ranked first on Forbes list of wealthiest real estate billionaires in America. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. All Rights Reserved

Had two sons, Cary and Stephen. philanthropist. Submit a correction suggestion and help us fix it! Buys Chicago's Hyatt Center from Pritzker family for $625 million.

Philanthropist, serves as Chairman of the Donald Bren Foundation. Notable recipients include: Public Policy Institute of California, Think Together, Marine Corps Scholarship Foundation, The Philanthropy Roundtable, California Institute of Technology, La County Museum of Art and Mirman School for Gifted Children.

With the acquisition completed in 1977, the company set out to manage, plan, develop and build what would be the largest master planned new private community in the U.S.. Mr Bren would lead the effort. Leaves the University of Washington with business degree. Investopedia is part of the Dotdash publishing family. Many deep-pocketed companies expressed interest in purchasing the ranch.

By the year 1996, Donald Bren purchased the remaining shares and was the sole owner of the company. He is also among Americas most successful leaders in real estate.

Under Donald Bren, the Irvine Company has built up a property portfolio that exceeds 100 million square feet and includes 480 office buildings, 41 retail centers, 125 apartment communities, three hotels, marinas, and golf clubs, primarily in Orange County, California, with additional investment properties expanding into Los Angeles, San Diego and Silicon Valley. He financed his tuition with his own funds and a skiing scholarship. 2022 Irvine Company, LLC. Founds the Bren Co.; begins building homes in Orange Country. Brensold the homes that he built and reinvested the profits into new developments. GREEN BUDDIES: Following the motto to raise awareness about sustainability amongst children through playgrounds. She served on the boards of the California Institute of Technology, Burnham Institute for Medical Research, the Los Angeles County Museum of Art, Think Together, Hoover Institute at Stanford University and Los Angeles Universal Preschool Master Plan. For almost four decades,the Irvine Company has developed many residential and commercial properties.

He is also known for his philanthropic activities and has donated well over $1 billion dollars to various charities and foundations. and each individual billionaire profile contains a detailed analysis of how that person's fortune is tallied. He is a former US marine who is credited with leading numerous important missions. Sells the Bren Co. to International Paper for $34 million. The 79 year old businessman is married to a 32-year-old entertainment lawyerBrigitte Muller and the couple resides in Newport Beach, California. It also controls marinas and hotels around southern California, Chicago and Silicon Valley. BornDonald L. Bren has an estimated net worth $14.3 billion according to Forbes as of March 2014. Taubman later sold a portion of his shares to some of his close friends as a means of cashing out. Bren re-acquired MVC for $22 million in 1972 following a recession. His lifetime donationsgreatly exceed $1.5 billion and, in 2008, BusinessWeek listed him as one of the "50 Most Generous Philanthropists in the United States."

He is also known as the avid philanthropist and has donated most of his fortune to some charitable and noble groups. people. As time passed, he bought out his partners and became the company's sole shareholder. After graduating, Bren served as an officer in the Marine Corps for three years. In 1967, he sold his share in Mission Viejo Company to Philip Morris. Son of Diane and Bren. Similar to the constraints placed on a companys cash flow by interest payments, quarterly requirements to pay dividends reduce a developers ability to reinvest in and pay for necessary planning and infrastructure costs that lay down the long term foundation of the planned community. His father, Milton Bren, came from Jewish descent and was a Hollywood, movie producer. One of the most influential developers in the American history, Bren has a career full of awards and honors, prominent one including Businessperson of the Year and Semper Fidelis Award. Bren was elected Chairman of the Board in 1983 and later became the principal shareholder. He goes right down the alphabet., In 1956, Bren graduated with a bachelor's degree in business from the University of Washington.

), Investopedia uses cookies to provide you with a great user experience. I'm a businessman, I'm a builder, I'm a planner And if I feel that I've done the job well, that's the satisfaction I get, not from doing interviews or being more public. About $10 billion of his net worth is from office properties and he owns about $7 billion worth of shopping centers and retail properties. After his experience in Mission Viejo, he would leave the Mission Viejo Company behind to build planned communities elsewhere in Southern California. He financed his tuition with his own funds and a skiing scholarship. Billionaire real estate developer Bren resides in his lavish mansion in Newport Beach, California which has an estimated cost over $5 million. The couple divorced in 1977. Co-Founder, Chairman and President of KBS Realty Advisors and its affiliate, KBS Capital Advisors. The index is a dynamic measure of personal wealth based on changes in markets, the economy and Son of Bren and his ex-girlfriend, Jennifer Mckay Gold.