$3.3 Billion
What is Jorge Perez’s Net Worth?
Jorge Perez is an Argentinian-native American real estate developer who has a net worth of $3.3 billion. Known as South Florida condo king, Jorge Perez is one of the richest Americans today. Once he graduated from the University of Michigan, Perez made his career beginnings as an urban planner and then moved into low-income housing development. A brief encounter with New York developer Stephen Ross led to a fruitful partnership as the two founded together The Related Companies in 1979. Initially, they built affordable housing in the 1980s, after which they switched to high-end condo construction.
More precisely, the Related Companies has become one of the most popular condo builders in Southern United States. Thus, Perez, who is often referred to as the “Donald Trump of the Tropics”, is the owner of 50 condo towers in Las Vegas, Fort Meyers and South Florida. Aside from his successful business deals, Mr. Perez has established himself as a democratic fund raiser who supported the candidacy of Bill Clinton and his wife, Hillary, as well as the current US President Barack Obama, after the latter was declared himself as the official Presidential nominee of the Democratic Party. With residence in Miami, Florida, he is married to Darlene Perez with whom he has four children.
Biography
Jorge M. Pérez is a prominent Argentine-American businessman, investor, philanthropist, and writer who has made significant contributions to the real estate industry and beyond. Here’s an overview of his life, career, and philanthropic endeavors.
Early Life and Education
Jorge M. Pérez was born on October 17, 1949, in Buenos Aires, Argentina, to Cuban parents of Spanish descent. He spent part of his childhood in Colombia before relocating to Miami in 1968. His father had been the head of a pharmaceutical company in Cuba, which was nationalized by the Cuban government. Pérez holds a bachelor’s degree in economics from Long Island University C.W. Post Campus and a master’s degree in urban planning from the University of Michigan.
Career
Pérez’s career began as an economic development director for the city of Miami before he ventured into real estate development. In 1979, he founded The Related Group, a Miami-based real estate company, in partnership with New York real estate tycoon Stephen M. Ross.
Under Pérez’s leadership, The Related Group became known for building and operating both affordable and luxury multifamily apartments across the United States and internationally. The company played a significant role in the construction and management of low-income multifamily apartments in Miami, eventually becoming the largest affordable housing builder in Florida.
Pérez’s influence in the Florida real estate market grew as he transitioned into high-rise condo construction. He has developed or managed more than 90,000 residences, primarily in South Florida. His projects have featured collaborations with renowned designers, architects, and firms, including Philippe Starck, Cesar Pelli, Arquitectonica, David Rockwell, Rem Koolhaas, and Karim Rashid.
In addition to his real estate ventures, Pérez has been an active Democratic fundraiser and advisor on Cuba-related matters. He advised Bill Clinton during his presidency and raised funds for Senator Hillary Clinton’s presidential campaign in 2008. He also hosted and raised money for Barack Obama’s campaign after he became the Democratic presidential nominee.
Despite facing challenges during the financial crisis of 2007–2010, Pérez’s business acumen allowed him to adapt by setting up a hedge fund to purchase distressed real estate. He has been recognized for his contributions to Florida’s real estate industry and has continued to expand his company’s reach by initiating various development projects in different states.
Personal Life and Philanthropy
Jorge M. Pérez resides in Miami, Florida, with his wife, Darlene Pérez, and has four children. He is known for his friendship and past business partnership with former President Donald Trump, who wrote the foreword for Pérez’s 2008 book, “Powerhouse Principles.” Despite their previous collaboration, Pérez has publicly criticized Trump’s presidency and policies.
Pérez is also an avid art collector and a dedicated philanthropist. In 2011, he made a substantial donation of $35 million in cash and art to the Miami Art Museum, which was subsequently renamed the Pérez Art Museum Miami (PAMM). In 2016, he contributed an additional $15 million, including $5 million in Cuban contemporary art, to the museum. Pérez has pledged to donate his entire art collection to PAMM after his passing.
In 2019, Pérez opened an experimental art space called “El Espacio 23” in Miami’s Allapattah neighborhood, showcasing curated exhibitions from his collection. The space is open to the public, with free admission, and includes apartments reserved for artist and curator residency programs.
In September 2021, Pérez made a significant donation of $33 million to The Miami Foundation, which focuses on building a more prosperous Miami. The donation was generated from the proceeds of the sale of his waterfront estate known as “Villa Cristina.” The funds will support causes related to arts, culture, education, and social justice.
Jorge M. Pérez’s successful career in real estate, commitment to philanthropy, and dedication to the arts have left a lasting impact on Miami and beyond.
