|Net Worth:||$4.4 Billion|
|Profession:||real estate investor and developer|
|Nationality:||United States of America|
What is Douglas Durst’s Net Worth?
Douglas Durst is an American real estate investor and developer who has a net worth of $4.4 billion. Douglas Durst is the president of the Durst Organization, which his grandfather, Joseph Durst, founded.
It is one of New York City’s oldest family-run residential and commercial real estate firms, owning and managing millions of square feet of office space and luxury rentals.
Durst is also heavily involved in philanthropy and environmental activism, serving on the boards of several nonprofits and running one of New York’s largest organic farms.
Douglas Durst was born on December 19, 1944, in New York City to Jewish parents Seymour and Bernice. His older brother was Robert, with whom he had a tumultuous relationship as a child.
Robert would go on to become a family outcast and a convicted murderer. Durst’s mother died when he was a child after falling from the family’s home’s roof. Durst was educated at the Fieldston School as a child before attending the University of California, Berkeley. He then attended New York University for two years.
Durst took over the Durst Organization from his father in 1992, who had been running the real estate firm since 1974. Joseph Durst, Durst’s paternal grandfather, established the company in 1915.
The choice of Douglas Durst as heir caused considerable consternation in the family, as older brother Robert believed he was the natural successor to his father as CEO. Robert was so upset that he cut himself off from his family; later, in 2006, he sued them for his share of the family trust.
Finally, a $65 million settlement was reached, effectively freezing Robert’s access to the Durst family fortune. Robert was convicted and sentenced to life in prison for the murder of his friend Susan Berman.
The Durst Organization is one of New York City’s oldest family-run residential and commercial real estate companies, owning and managing over a million square feet of luxury residential rentals and over 8.5 million square feet of Midtown Manhattan office space.
Durst oversaw the development of several major buildings in the area as the company’s president, including the 52-story 4 Times Square, the 38-story Helena, the 57-story Epic, and the 55-story Bank of America Tower.
The most recent tower, which opened in 2010, was the first high-rise commercial building in the country to receive a LEED platinum rating.
Durst has been involved with a number of non-profit organizations, many of which are concerned with environmental conservation.
He is a director of the Trust for Public Land and the Project for Public Spaces, and he also owns McEnroe Farm, one of New York’s largest organic farms.
Durst is a trustee of the Old York Foundation, which was founded by his father to educate the public about New York City’s history and culture. He also serves as a director of the New School and the Roundabout Theatre Company.
Durst married Susanne, a Danish national, in 1967; they had met in Denmark after Durst received his college degree. Helena, Alexander, and Anita are the names of the couple’s three kids.
Anita is the creator of the non-profit arts group chashama, which converts vacant houses into affordably priced living, working, and exhibition spaces for artists. At the Durst Organization, Alexander and Helena both hold the position of vice president.
The latter is also a board member of Just Food and the Governors Island Alliance, as well as president of New York Water Taxi and Circle Line Downtown.
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