Ted Lerner

About Ted Lerner

Birth Day: October 15, 1925
Birth Place: Chevy Chase, Maryland, United States
Birth Sign: Scorpio
Residence: Chevy Chase, Maryland
Alma mater: George Washington University
Occupation: Managing principal owner of Washington Nationals & Lerner Enterprises
Spouse(s): Annette Lerner
Children: Mark Lerner Debra Lerner Cohen Marla Lerner Tanenbaum
Parent(s): Ethel & Mayer Lerner

Ted Lerner Net Worth

Ted Lerner was bornon October 15, 1925 in Chevy Chase, Maryland, United States. In 1952, a 26-year-old Ted Lerner borrowed $250 from his wife to start a real estate company, selling homes for developers. He sold some 22,000, then decided to become a builder. Now he owns 20 million square feet of commercial and retail space, plus hotels and apartments. The Lerners are on the short list of developers vying to build a new headquarters for the FBI, which is currently on hold until Congress gets funding. He also owns the Washington Nationals baseball team. The family donates to charities including Children's National Hospital in DC, George Washington University and Hebrew University in Jerusalem.
Ted Lerner is a member of Real Estate

💰 Net worth: $5.2 Billion (Updated at 22 June 2018)

2009 $3 Billion
2010 $3 Billion
2011 $3.3 Billion
2012 $3.9 Billion
2013 $4 Billion
2014 $4.5 Billion
2015 $5.5 Billion
2016 $5.3 Billion
2017 $5.3 Billion
2018 $4.95 Billion

Some Ted Lerner images

Biography/Timeline

1921

Lerner was raised in an Orthodox Jewish family in North West Washington D.C., the eldest of three children born to Mayer, a 1921 emigrant from Palestine, and Ethel, who emigrated from Lithuania. He has one brother Lawrence and one sister, Esther. He attended Raymond Elementary School, McFarland Junior High, and graduated from Roosevelt High School in 1944. He then served with the U.S. Army as a typist during the latter part of World War II. He then went on to attend George Washington University via the G.I. Bill where he received first an Associate of Arts and then in 1949, he graduated with a L.L.B. from The George Washington University Law School. While in law school, he sold homes on the weekends which piqued his interest in real estate.

1951

On June 17, 1951, he married Annette M. Lerner. They have three children: Mark D. Lerner (married to Judy Lenkin), Debra Lerner Cohen (married Edward L. Cohen) and Marla Lerner Tanenbaum (married Robert K. Tanenbaum). Ted Lerner has nine grandchildren.

1952

In 1952, he borrowed $250 from his wife and founded the real estate company Lerner Enterprises in Rockville, Maryland. It operates primarily throughout the Washington, D.C. metropolis. Lerner Enterprises is the largest private landowner in the Washington, D.C. region.

1965

Lerner Corporation, a closely held corporation but not a "close corporation" within the meaning of Maryland corporation law, was organized in 1965. It was authorized to issue 95 shares of no-par Common stock. Theodore acquired seventy shares, and Lawrence acquired 25 shares. Theodore was President and one of three Directors. Prior to September 1983, Lawrence was secretary and a Director.

1987

The brothers' relationship deteriorated, and in September 1983, Theodore caused Lawrence to be removed as an officer and Director. Lawrence sued Theodore, Theodore undertook to "freeze-out" Lawrence as a stockholder, and Lawrence brought an action to enjoin the freeze-out. The Court of Appeals affirmed the trial court's entry of a preliminary injunction. See Lerner v. Lerner, 306 Md. 771, 511 A.2d 501 (1986). Prior to trial of that case, however, the brothers entered into a settlement agreement dated October 16, 1987 (Settlement Agreement or the Agreement). The Settlement Agreement provided that (1) Theodore would remain the chief operating officer of Lerner Corporation, (2) Lawrence would no longer be involved actively in Lerner Corporation but would continue to receive shareholder distributions, and (3) Theodore would have permission to use the resources of Lerner Corporation to benefit his other financial projects.

1990

The Annette M. and Theodore N. Lerner Family Foundation provides support to many organizations, including: Food and Friends; The Hebrew University of Jerusalem; Shady Grove Adventist Hospital; Hadley's Park; the Weizmann Institute of Science; the Scleroderma Foundation of Greater Washington; YouthAids; Junior Achievement of the Greater Washington Area; the Charles E. Smith Jewish Day School; and the Jewish Community Center of Greater Washington, among many others. Ted and his wife Annette are founding members of the United States Holocaust Memorial Museum in Washington, D.C. The American Academy of Achievement awarded Ted Lerner the Golden Plate Award of Excellence in 1990.

2002

The Washington Nationals franchise was formerly owned and operated by Major League Baseball from February 15, 2002, until the official transfer of ownership on July 24, 2006. The Lerner Family is the majority owner of the franchise, controlling over 90% of the shares.