Edward DeBartolo, Jr.

About Edward DeBartolo, Jr.

Birth Day: May 17, 1909
Birth Place: Tampa, Florida, United States
Died On: December 19, 1994(1994-12-19) (aged 85)\nYoungstown, Ohio
Birth Sign: Gemini
Education: University of Notre Dame
Occupation: Shopping mall developer
Children: Edward J. DeBartolo Jr. Denise DeBartolo York
Parent(s): Anthony Paonessa (d. 1909) Rose Villani
Relatives: Michael DeBartolo, stepfather

Edward DeBartolo, Jr. Net Worth

Edward DeBartolo, Jr. was bornon May 17, 1909 in Tampa, Florida, United States. While most of his wealth comes from real estate, shopping mall magnate Edward Debartolo Jr. is best known as one of the most successful NFL owners. Under Debartolo's ownership, the San Francisco 49ers won five championships during the 1980's and 1990's. In 2000, six years after their father's death, he and his sister Denise York finalized the separation of their father's estate. Denise became the owner of the 49ers while DeBartolo got full ownership of the family's real estate holdings. DeBartolo now runs a property development and investment firm based in Florida and owns shares in publicly-traded Simon Property Group.
Edward DeBartolo, Jr. is a member of Real Estate

💰 Net worth: $2.9 Billion (Updated at 22 June 2018)

2009 $1.25 Billion
2010 $1.5 Billion
2011 $2 Billion
2012 $2.7 Billion
2013 $2.6 Billion
2014 $3.1 Billion
2015 $3.3 Billion
2016 $3.2 Billion
2017 $2.9 Billion
2018 $2.76 Billion

Some Edward DeBartolo, Jr. images

Biography/Timeline

1944

DeBartolo went on to earn a degree in civil engineering at the University of Notre Dame. Next came a decade of construction jobs with his stepfather. Capitalizing on his engineering skills, DeBartolo found himself serving in the Army Corps of Engineers during World War II. It was during the War, in 1944, that he married Marie Patricia Montani and incorporated his own company, The Edward J. DeBartolo Corporation.

1977

The family also owned the Pittsburgh Penguins of the National Hockey League from February 1977 until selling it to an ownership group led by Howard Baldwin in November 1991. His team would win the Stanley Cup in 1991. He would be engraved onto the Stanley Cup along with his daughter Denise DeBartolo York. DeBartolo said at a rally after the first win that the occasion "possibly the happiest moment of my life." He also owned the soccer team Pittsburgh Spirit from 1978 until 1986.

1980

While DeBartolo was unsuccessful in his attempt to purchase the Chicago White Sox in 1980, he owned and developed three thoroughbred racetracks – Thistledown in Cleveland, Remington Park in Oklahoma City, and Louisiana Downs in Bossier City, Louisiana.

1983

DeBartolo founded the Pittsburgh Maulers of the United States Football League in March 1983, but folded the team after the first season (1984) when the league announced it would move to a fall schedule, the same time as the NFL's Pittsburgh Steelers.

1988

In 1988, he partnered with Dillard's Department Stores to buy Higbee's of Cleveland, Ohio. In 1992, william Dillard, founder of Dillard's, bought DeBartolo's share, except for the property interest in Higbee's Public Square flagship store in Cleveland (sold to Tower City in 2001), and renamed it the Higbee chain. DeBartolo's idea of a Retail real estate developer going forward with new projects easily and quickly, by virtue of anchor stores which he owned, would never become a reality.

1990

The Edward J. DeBartolo Corporation was the undisputed leader in the shopping mall industry from the birth of the industry until DeBartolo's death, owning almost one-tenth of all mall space in the United States. DeBartolo also branched out into other types of urban development and construction, such as hotels, office parks, and condominiums. He established a work ethic of fifteen-hour days and seven-day weeks. He once told his senior executives, "My wife has never seen me lie down while the sun was up." By 1990, DeBartolo was estimated to have more than $1.4 billion in personal wealth.

1993

As a result of several years' impaired cash flow, DeBartolo prepared to take his company public as a real estate investment trust or "REIT". Most of DeBartolo's competitors were preparing to do the same, their operations suffering from a lack of capital in the private markets. In late 1993, the two largest shopping center companies at the time, DeBartolo and Simon were coming to the market simultaneously. Their advisors informed them that the capital markets could not absorb that much equity; either one of them must back down or prices would suffer severely. DeBartolo agreed to withdraw. In April, 1994, most of the properties owned by The Edward J. DeBartolo Corporation were transferred to DeBartolo Realty Corporation, a public REIT, in its initial public offering. The new company was chaired by Edward J. DeBartolo Jr.; DeBartolo Sr. was unwilling to deal personally with the constraints of running a public company. In 1996, DeBartolo Realty Corporation was acquired by Simon Property Group, the public REIT formed by DeBartolo's longtime competitors, Melvin and Herbert Simon.

1994

DeBartolo died of pneumonia on December 19, 1994 in Youngstown, Ohio at the age of 85.