Steven Roth

About Steven Roth

Birth Year: 1941
Birth Place: New York, New York, United States
Education: DeWitt Clinton High School B.A. Dartmouth College (1962) M.B.A. Tuck School of Business (1963)
Occupation: Real estate investor
Known for: Founder of Vornado Realty Trust
Spouse(s): Daryl Roth
Children: 2 including Jordan Roth
Parent(s): Fred Roth Virginia Roth

Steven Roth


Real Estate

Steven Roth is a member of Real Estate born on 1941 in New York, New York, United States. At age 77 Steven Roth net worth is approximately $1.01 Billion. New York native Steven Roth is chairman of real estate investment trust Vornado Realty, which owns two buildings -- 1290 Avenue of the Americas in New York City and 555 California Street in San Francisco -- in partnership with President Donald Trump.

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💰 Net worth: $1.01 Billion

2010 $1.1 Billion
2011 $1.05 Billion
2015 $1 Billion
2017 $1.1 Billion
2018 $1.01 Billion

Biography/Timeline

1941

Steven Roth (born 1941) is an American real estate investor, the founder and chairman of Vornado Realty Trust, chairman and chief executive officer of Alexander's, and chairman of JBG Smith.

1964

In 1964, along with Russell Wight Jr. and $250,000 in seed money from real estate investor David Mandelbaum, Roth formed Interstate Properties to invest in shopping centers. He repaid Mandelbaum within a year.

1975

They have two children: including Jordan Roth (born 1975), who is the President and majority owner of Jujamcyn Theaters; .

1979

In 1979, Interstate purchased an interest in Two Guys, a New Jersey discount appliance chain, and later gained control of its parent company Vornado, a former fan manufacturer that was purchased by Two Guys in 1959 to utilize its tax loss carryforwards. Roth dissolved the chain, turning the stores into strip malls. His efforts were very successful and Roth formed Vornado Realty Trust to hold the real estate.

1993

In 1993, Vornado Realty Trust became a public company via an initial public offering. In 1995, Vornado purchased a controlling interest in Alexander's, a failed department store that had substantial real estate holdings, for $54.8 million from Citicorp. The stake owned by Citicorp was previously owned by Donald Trump, who was forced to turn his shares over to the bank.

1997

In 1997, Vornado purchased 7 Midtown office buildings with 4 million square feet from Bernard H. Mendik for $656 million. In 1998, Vornado purchased 20 more office buildings in Manhattan for $1.7 billion, including One Penn Plaza.

2006

In 2006, Roth was a major donor to Eliot Spitzer's New York gubernatorial campaign.

2011

In 2011, Roth donated $15 million to his alma mater, Dartmouth College.

2012

Roth has served as a trustee of the Intrepid Museum Foundation, the Whitney Museum of American Art, the Jewish Theological Seminary of America, and the New York University School of Medicine Foundation, and the Horace Mann School. He also served as chair of the National Association of Real Estate Investment Trusts (NAREIT) and as a member of the Board of Overseers of Tuck. He funded the Roth Center for Jewish Life at Dartmouth and in 2012, he received an honorary Doctor of Humane Letters degree from Dartmouth.

2016

In 2016, Roth served as one of the top economic advisers to Donald Trump's 2016 presidential campaign.

2017

In January 2017, the President discussed establishing a national panel to review infrastructure projects with Roth and another New York developer Richard LeFrak as co-heads. Roth was included in a March 2017 meeting at the White House on the Trump Administration infrastructure plan.

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