Stuart Barry Sternlicht is the founder, president, and CEO of Starwood Capital Group, an investment fund with $ 51 billion of managed assets. Let’s know about Barry Sternlicht net worth, how much he earned in his career?
He is also president of Starwood Property Trust, the largest real estate investment company in the United States.
Barry is the president of Starwood Waypoint Homes. He was the founder of Starwood and was CEO from 1995 to 2005.
Barry Stuart Sternlicht
Net Worth: $39 Billion
Barry Sternlicht Biography
|Full Name||Stuart Barry Sternlicht|
|Birth Date||November 27, 1960|
|Place of Birth||
New York, United States
Sternlicht was born in New York in 1960 and grew up in Stamford, Connecticut. He is the son of a Polish Holocaust survivor, Maurycy Sternlicht.
His father worked as a factory manager; His mother, Harriet, was from New York and worked as a biology teacher and stockbroker.
In 1982, he graduated with honors from Brown University. Then he worked as an arbitrage broker on Wall Street. In 1986, he received his MBA with Distinction from the Harvard Business School.
After graduation, he went to work for JMB Realty, a real estate investment firm in Chicago. Here he learned the real estate sector. In 1989, after the collapse of the real estate market. He was fired and left alone.
Barry Sternlicht Net Worth & Career
Barry Sternlicht Net Worth has reached on $39 Billion. In 1991, at the age of 31, Sternlicht launched the Starwood Capital Group for the purchase of condominiums. The resolution Trust Corporation sold them.
It was created by the federal government to hold and liquidate real estate of bankrupt banks after the savings and credit crisis.
Sternlicht was able to raise $ 20 million from the families of William Bernard Ziff, Jr. and Carter Burden of New York to finance these purchases.
In 1993, Sternlicht sold the real estate portfolio of real estate magnate Sam Zell for a 20% stake in Equity Residential. This thing has proven to be a very profitable investment.
How did Barry Sternlicht earn From hotels?
In 1994, in collaboration with Goldman Sachs, Sternlicht acquired Westin Hotels & Resorts in operation of $ 561 million.
Sternlicht’s innovations include the hotel brand “W” and the Westin Heavenly Bed. The bed had modeled after the foundation of the Sternlicht house.
In January 1995, Sternlicht purchased the Hotel Investors Trust, a quasi-bankrupt estate investment fund, and assumed the position of Chief Executive Officer.
In 1997, Sternlicht acquired ITT Sheraton in a $ 13.3 billion transaction and launched an offer from Hilton Worldwide.
In 2004, the magazine for institutional investors named Sternlicht “Best Lodging CEO in the United States.”
Sternlicht entered the Interior Design Magazine Hall of Fame. In 2010, the commercial property executive named Sternlicht “Executive of the Year” and “Investor of the Year.”
Sternlicht is also a member of the Board of Directors of Estée Lauder Companies and Baccarat S.A. He is chairman of the board of directors of the Robin Hood Foundation.
He is a member of the Board of Trustees of the Dreamland Community Theater, the National Leadership Development Program of the Juvenile Diabetes Research Foundation and the Works Council for the Arts.
Previously, he was a part of the board of directors of the Pensions Real Estate Association apart the Real Estate Roundtable. He is a former director of his alma mater, Brown University.
Barry Sternlicht Personal Life
Barry Sternlicht was married to Mimi (née Reichert) Sternlicht, whom he met at Brown University, but who separated in 2016. Barry Sternlicht Net Worth is enough for him to spend a good life.
In 2016, Sternlicht moved to Florida
In 2007, Sternlight awarded the Harvard Stem Cell Institute a $ 1 million grant to support diabetes research.
Sternlight donated $ 70,800 to the Mitt Romney presidential campaign. In 2016, Sternlicht gave $ 125,000 to Right to Rising; the political action committee set up to support the 2016 elections of Jeb Bush.
Sternlicht also contributed $ 1,000 to resist the Proposition 8 of California (2008), which prohibited same-sex marriage in California. Note: Carrie Ann Inaba Net Worth