Donald Bren

Last updated
Donald Bren
Born
Donald Leroy Bren

(1932-05-11) May 11, 1932 (age 92) [1] [2] [3]
Los Angeles, California, U.S.
Education University of Washington (BA)
Occupation(s)Chairman of Irvine Company, United States Marine Corps Officer
Known for Real estate development
Spouses
  • Diane Bren
  • Mardelle Bren (divorced)
  • Brigitte Muller [4]
Children7
Parent(s) Marion Newbert
Milton H. Bren
Website Official website

Donald Leroy Bren (born May 11, 1932) is an American billionaire businessman. He is the chairman and owner of the Irvine Company, a U.S. real estate development corporation. [5] With a net worth of $18 billion, he ranks number 104 on the 2024 Forbes Billionaires List. [6]

Contents

Early life

Bren is the son of Marion Newbert and Milton Bren. [7] His Jewish father Milton was a naval officer, talent agent, and movie producer. His mother Marion, who is of partial Irish descent, was a civic leader. Following their divorce in 1948, Bren's father remarried Academy Award-winning actress Claire Trevor in the same year. His mother later got remarried to steel businessman Earle M. Jorgensen [7] in 1953.

Bren was graduated from the University of Washington with a bachelor's degree in business administration and economics. [8] While at the University of Washington, Bren became a member of the Beta Theta Pi fraternity. He failed to qualify for the 1956 Olympic ski team following an injury. [9] After college, he served as an officer in the United States Marine Corps. [10]

Career

In 1958, Bren began his business career by starting the Bren Company to build homes. In 1963, he and two others started the Mission Viejo Company (MVC), which purchased 10,000 acres to develop the city of Mission Viejo, California. He was President of MVC from 1963 to 1967. [11] International Paper bought the Bren Co. for $34 million in 1970. [12] They sold it back to Bren for $22 million in 1972 due to the recession. [13]

In 1977, Bren joined a group of investors to purchase the 146-year-old Irvine Company. He became the largest shareholder of the consortium, owning 34.3% of the company, and the vice-chair of the board. [14] In 1983, as the majority owner of the firm, [15] he was elected chairman of the board. By 1996, he bought out the remaining shares to become the sole owner.

OC Weekly wrote in 2005 that Bren "wields more power than Howard Hughes ever did, probably as much as any man in America over a concentrated region—determining not only how people live and shop but who governs them." [16] In 2006, the Los Angeles Times wrote "[s]imply put, Orange County looks like Orange County...because of the influence of [Donald Bren]." [17] In a 2011 interview, Bren summarized his real estate investment strategy: "What I learned was that when you hold property over the long term, you're able to create better values and you have something tangible to show for it." [18] Forbes , in its 2019 edition of "The 400 Richest Americans", ranked Bren as the wealthiest real estate developer in the US and 32nd "Richest American" with an estimated net worth of $17 billion. [19]

It is believed that the Irvine Company owns more than 120 million ft² of real estate – the majority of which is in Southern California. The company's holdings include several hotels, marinas, golf courses, 550 office buildings, 125 apartment complexes and more than 40 shopping centers. [20] He currently also owns a 97% stake in the MetLife Building in Manhattan. [21]

Philanthropy

In 2008, BusinessWeek named Bren one of the top ten philanthropists in the nation. His contributions to various causes such as education, conservation and research exceeded $1 billion. [22] In 2023, his lifetime contributions reached $2.1 billion. [23]

Bren was honored in the 2010 National Philanthropy Day of Orange County with the "Donald Bren Legacy of Giving Award". At that time, he said, "I do try to bring the same level of attention to both my philanthropic and business ventures." [24] [25]

Education

Bren has donated over $200 million to support programs in K-12 public schools and higher education institutions in Southern California. [26]

His contributions have benefited the University of California, Irvine, University of California, Santa Barbara, and Chapman University. The University of California recognised that Bren "has contributed more to support endowed chairs than any other single donor in UC's history." [10] He had done so privately and through the Donald Bren Charitable Trust. At UC Irvine, his patronage was honored with the naming of the Bren Events Center, Donald Bren School of Information and Computer Sciences and Donald Bren Hall after him. Its Claire Trevor School of the Arts was named after his stepmother. UC Santa Barbara named Bren Hall and the Bren School of Environmental Science & Management, a graduate school, after him in recognition of his donation to "enhance and strengthen the school's core interdisciplinary programs, personnel, and special activities." [27] UC Santa Barbara Chancellor Henry T. Yang said, "Bren's vision for developing a peerless, world-leading institution offering an interdisciplinary program of environmental science, management, and policy has been a tremendous source of inspiration and leadership for the Bren School." [27]

In August 2007, Bren pledged $20 million to the recently established UC Irvine School of Law. The purpose was to establish an endowment to help recruit and support a nationally recognized dean and 11 distinguished law scholars, and provide the dean with discretionary start-up funding. In recognition of the gift, the school was initially named the UC Irvine Donald Bren School of Law. In 2008, it was agreed that the school would no longer bear his name to be similar or parallel to other UC schools. [28]

As a trustee at the California Institute of Technology, Bren supported new faculty as Bren Scholars and endowed five Bren Professorships. [29]

In 2003, Bren donated $1 million to the Marine Corps University in Quantico, Virginia. It was used to endow two academic chairs on ethics and leadership, and on innovation and transformation. [30]

Bren also supported after-school services for K-12 students in Southern California through THINK Together. [31] His contribution in 2001 helped the after-school program expand its services to 40 schools in the Santa Ana district. This would benefit more than 10,000 students over 10 years. [32]

Bren donated $25 million in 2000 and $20 million in 2006 to the Irvine Unified School District. [33] Tim Shaw, former chief executive officer of the Irvine Public Schools Foundation, commented that the gift "seeded the strong public support of elementary arts, music and science instruction." [32]

Conservation

The Sunday Times ranked Bren as 9th [34] in its "Green Rich List" in March 2009. This lists the 100 wealthiest people, who have either invested in green technology/business or made large contributions to environmental causes. [35] It was due to his $20 million in donations to UC Santa Barbara's School of Environmental Science. [36]

In 30 years, Bren donated 55,000 acres (220 km2) of land for parks, greenways, recreation and wilderness preserves. [37] This fulfills his plans and commitment to preserve more than 50-percent of historic Irvine Ranch of 93,000 acres (380 km2). [37] 40,000 acres (160 km2) of it were designated as the Irvine Ranch National Natural Landmark. [38] During the 2006 ceremony at Crystal Cove State Park to celebrate this, California Governor Arnold Schwarzenegger said, "it is really a spectacular gift that [Bren's] given to [California]. Donald Bren is...the ultimate of generosity. Not only what he contributes to the environment, but what he contributes continuously to the community, if it is in education, if it is in arts, if it is music, if it is the environment, the tens of millions of dollars he's invested in the environment, to protect the environment. He's an extraordinary man." [39]

In 2008, the state of California also designated the land as the first California Natural Landmark because of the land's ecological value. The protected land, once a part of Irvine Ranch, is operated by The Irvine Ranch Conservancy. [38] In June 2010, Bren completed his pledge to set aside more than 50,000 acres (202.3km2) of the original 93,000-acre ranch as open space by designating 20,000 acres (81 km2) to Orange County, California, as an open-space and parklands gift. This was the largest donation of private property to public ownership in Orange County history. [37] That year, he was recognized for donating more than 20,000 acres of pristine wilderness to Orange County, asking only that it remain open space forever. [40] In August 2014, the Irvine Company announced plans to donate and preserve 2,500 additional acres of land previously approved for housing, bringing the preserved lands of the Irvine Ranch to 60%. [41]

Gale Norton, former U.S. Secretary of the Interior, speaking about Bren's history of land donations, said, "The Irvine Ranch illustrates what cooperative conservation is all about. A conservation-minded corporate citizen is working hand-in-hand with federal and state agencies, The Nature Conservancy, local communities, private citizens and other partners to thoughtfully and purposefully create an environment where both people and wildlife can thrive." [42]

Research

In 2007, Bren made a $2.5 million commitment to the Burnham Institute for Medical Research in La Jolla, California. The contribution established The Donald Bren Presidential Chair and the money donated was used to support research conducted by the Institute such as cancer, neurodegeneration, diabetes, and childhood diseases among others. [43] [44]

In a 2011 interview, Bren indicated that solar energy is one of the areas he is exploring for a future philanthropic gift. He said, "It's my view that solar energy may be the ultimate solution for energy for most of the world. I believe, based on what little I know about it, that there is a possibility of a breakthrough." [45]

Awards and honours

In 2006 the Los Angeles Times named Bren as both the most powerful and wealthiest person in Southern California, [17] and the Orange County Business Journal named him "Businessperson of the Year" based on the company's office expansion, new building construction, and Bren being recognized for his conservation efforts by the federal government. [46] In 2011 the Urban Land Institute awarded Bren its first Vanguard Award, calling him "one of the most consequential developers in American history." [47] [48] In 2014 he was named on OC Register's list of the 100 most influential people in Orange County. [49]

In 2004 Bren received the University of California Presidential Medal, the University's highest honor, because of his financial support throughout the years which at the time was more than $43 million. [50] During the award ceremony, former UC President, Robert Dynes said, "[Bren's] passionate philanthropy and commitment to educational excellence have helped strengthen the university." [51]

In 1998, Bren received the Marine Corps University Foundation's Semper Fidelis Award, which recognises a distinguished American leader whose commitment to personal and professional excellence embodies those qualities of leadership and character uniquely associated with the United States Marine Corps. Past award recipients include former President George H.W. Bush and former Secretary of State George P. Schultz. The Foundation also presented Bren with its most prestigious award in 2003, the General Leonard F. Chapman Medallion named in honor of the 24th Commandant of the United States Marine Corps. [30]

Bren serves on the board of trustees at Caltech and the Los Angeles County Museum of Art. He was elected a Fellow with the American Academy of Arts & Sciences in 2007 in the category of Business, Corporate and Philanthropic Leadership.

Personal life

Bren has been married three times. [4] His first marriage was to Diane Bren, and they had three children. [52] [53] His first son, Cary Bren, born 1959, [54] served as president of Orange County home builder California Pacific Homes. [55] His second son, Steve Bren, born 1960, was a former professional auto racing driver and real estate developer. [53]

Bren's second marriage was to Mardelle Bren in 1977. [56] They had one daughter, [52] Ashley Bren, born 1968. [54] [56]

In May 1998, Bren, an Episcopalian, married Brigitte Muller, an entertainment lawyer born in La Jolla, California, [4] in a church ceremony at the All Saints Episcopal Church in Beverly Hills, California. He and his wife reside in Newport Beach, California. [57] They had a son in 2003. [52] [54] Bren also has three children by two former companions. [52]

Bren keeps a low public profile and as he explains, "I'm not a public official. I'm a businessman, I'm a builder, I'm a planner... And if I feel that I've done the job well, that's the satisfaction I get, not from doing interviews or being more public." [45] OC Weekly described Bren in 2005 as "one of the nation's least public billionaires", who guards his privacy "jealously". The Los Angeles Times that year canceled a pending article discussing how the fictional Caleb Nichol of the popular television show The O.C. was based on Bren, allegedly because the Irvine Company threatened to withdraw advertising. The Times denied the allegation and stated that the story was canceled for timing reasons. [16]

Politics

Bren supported Republican Pete Wilson's Senate and gubernatorial campaigns, [58] and Democrat Dianne Feinstein, whom he calls "a great senator for California." [59]

Since the availability of FEC records in 1980, Donald Bren, has contributed tens of thousands of dollars each year to GOP causes. In May 2016, he made contributions to Donald Trump. [60] Bren has donated at least $135,000 to the California Republican Party. [61]

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References

  1. ↑ Bren, Donald L. . Cambridge University Press. 1995. ISBN   978-0-521-40258-3.
  2. ↑ Donald Bren was born in 1932; Forbes listed his age as 78 in March 2011 and 79 in September 2011.
  3. ↑ "Donald Leroy Bren". AllBusiness.com. Archived from the original on March 3, 2008 – via web.archive.org.
  4. 1 2 3 Apodaca, Patrice (May 14, 1998). "Billionaire Developer Weds". LA Times. p. B1. Retrieved 2008-09-21.
  5. ↑ "Donald Bren". Bloomberg News . Retrieved 2015-12-22.
  6. ↑ "The Richest People In The World". Forbes. Retrieved 2024-04-02.
  7. 1 2 Ronnie and Nancy: Their Path to the White House--1911 to 1980 By Bob Colacello retrieved January 14, 2012
  8. ↑ Kraft, Scott (February 13, 2010). "Donald Bren's legacy". Los Angeles Times .
  9. ↑ "Our Wondrous One Hundred". The University of Washington Alumni Magazine. June 2008. p. 1. Archived from the original on 2008-09-06. Retrieved 2008-09-21.
  10. 1 2 "Donald Bren awarded UC Presidential Medal" (Press release). University of California. 2004-06-09. Archived from the original on 2009-03-13. Retrieved 2008-12-22.
  11. ↑ "Donald Bren's view". OCRegister. August 4, 2006. Archived from the original on September 8, 2012. Retrieved 2009-04-07.
  12. ↑ "#27 Donald L Bren". Forbes. September 21, 2006. Retrieved April 7, 2009.
  13. ↑ Hector, Gary (August 27, 1990). "AMERICA'S RICHEST LAND BARON: Donald Bren's stunning property covers 100 square miles (260 km2) of California. He's worth $2 billion now, and his build and hold strategy promises to keep his wealth climbing". Fortune. Archived from the original on December 15, 2010. Retrieved 2009-04-07.
  14. ↑ Liebeck, Judy (1990). Myrtle Malone (ed.). Irvine: A History of Innovation and Growth. Houston, TX: Pioneer Publications, Inc. ISBN   978-1-881547-10-5. Archived from the original on 2010-09-25. Retrieved 2009-04-08.
  15. ↑ Richman, Louis S. (October 12, 1987). "The Real Estate Men". Fortune. Archived from the original on June 6, 2011. Retrieved 2009-04-07.
  16. 1 2 Lowery, Steve (2005-11-17). "I Killed It, and Id Kill It Again". OC Weekly. Archived from the original on 2013-01-15. Retrieved January 30, 2013.
  17. 1 2 "The West 100". Los Angeles Times. August 13, 2006. Retrieved 2010-07-28.
  18. ↑ "Donald Bren: Southern California's richest man in his own words". LATimes. February 14, 2011. Retrieved 21 September 2011.
  19. ↑ "Forbes 400: Donald Bren" . Retrieved 2019-10-03.
  20. ↑ "Biography". Official Biography. Archived from the original on 2018-09-09. Retrieved 2018-04-05.
  21. ↑ "Forbes". Forbes. 2020-04-20. Retrieved 2020-05-15.
  22. ↑ "The 10 Top American Givers". BusinessWeek. December 2, 2008. Retrieved 2010-07-28.
  23. ↑ "America's Most Generous Givers 2023: The Nation's 25 Top Philanthropists". forbes.com. 2023-01-23. Retrieved 2023-03-01.
  24. ↑ "2010 Outstanding Honorees". National Philanthropy Day OC. Archived from the original on 21 January 2012. Retrieved 21 September 2011.
  25. ↑ Mouchard, Andre (November 26, 2010). "Irvine Co.'s Bren gives philanthropy equal priority". OC Register. Retrieved 21 September 2011.
  26. ↑ Lyster, Michael (April 10, 2006). "Bren Gives $20M to Irvine Schools". Orange County Business Journal. Retrieved 2010-07-28.
  27. 1 2 "Business Leader and Philanthropist Donald Bren Expands his Support". University of California. July 28, 2004. Archived from the original on June 13, 2011. Retrieved 2010-07-28.
  28. ↑ Reiff, Rick (October 20, 2008). "It's Agreed: No Bren Name on UCI Law School". Orange County Business Journal. Archived from the original on December 9, 2008. Retrieved 2008-10-22.
  29. ↑ "Irvine Co. Head Gives $10-Million Grant to Caltech". Los Angeles Times. November 2, 1999. Retrieved 2010-11-04.
  30. 1 2 "Ex-Marine Bren to Donate $1 Million to Endow Two Chairs at Corps' University". Los Angeles Times. April 5, 2003. Retrieved 2010-11-04.
  31. ↑ Delson, Jennifer (February 20, 2008). "After-school help program gets gift". LA Times. p. B8. Retrieved 2008-09-25.
  32. 1 2 Leal, Fermin (June 13, 2006). "Irvine Co. Gives $1 Million for Santa Ana School Programs". Orange County Register. Retrieved 2010-07-28.
  33. ↑ Haldane, David (April 11, 2006). "Irvine Co. to donate $20 million to schools". Los Angeles Times. Retrieved 2010-07-28.
  34. ↑ Beresford, Philip (March 1, 2009). "The Green Rich List". The Sunday Times . London. Retrieved 2009-03-01.[ dead link ]
  35. ↑ Beresford, Philip (March 1, 2009). "Eco barons lead the way". The Sunday Times. London. Archived from the original on May 11, 2009. Retrieved 2009-03-01.
  36. ↑ "Donald Bren (USA)". The Sunday Times. London. March 1, 2009. Retrieved 2009-04-04.[ dead link ]
  37. 1 2 3 Kraft, Scott. "Irvine Co. Gives 20,000 Acres Of Open Space To Orange County=June 30, 2010". Los Angeles Times. Retrieved 2010-07-28.
  38. 1 2 Barboza, Tony. "Orange County Land Designated As First California Natural Landmark=April 23, 2010". Los Angeles Times. Retrieved 2010-07-28.
  39. ↑ "Governor Arnold Schwarzenegger's Remarks at Crystal Cove State Park". Office of the Governor. October 10, 2006. Archived from the original on June 1, 2010. Retrieved 2010-07-28.
  40. ↑ "Donald Bren's legacy". Office of the Governor. February 13, 2010. Retrieved 2010-07-28.
  41. ↑ Cowan, Jill. "Final pieces of Irvine Ranch complete 'open-space puzzle' in O.C." Los Angeles Times. Retrieved 17 October 2014.
  42. ↑ Lin, Sara (May 27, 2005). "Big Swath Gets a Big Gift". Office of the Governor. Retrieved 2010-07-28.
  43. ↑ "O.C. Developer Endows Burnham Institute Chair". San Diego Union Tribune. June 29, 2007. Archived from the original on March 28, 2012. Retrieved 2010-07-28.
  44. ↑ "Scientific Excellence Fuels Burnham's Growth". Newswise. August 18, 2009. Retrieved 2010-07-28.
  45. 1 2 "Donald Bren: Southern California's richest man in his own words". Los Angeles Times. Retrieved 2011-02-14.
  46. ↑ Mueller, Mark (January 2, 2006). "Businessperson of the Year: Donald Bren". Orange County Business Journal. Retrieved 2010-07-28.
  47. ↑ Vincent, Roger (28 October 2011). "Donald Bren accepts award, reflects on Irvine Co.'s history". Los Angeles Times. Retrieved 31 October 2011.
  48. ↑ Lansner, Jonathan (27 October 2011). "Irvine Co.'s Bren wins urban planning award". OCRegister. Archived from the original on 2011-10-28. Retrieved 31 October 2011.
  49. ↑ Lansner, Jonathan. "Most influential 2014: Donald Bren". Orange County Register. Retrieved 20 December 2014.
  50. ↑ "A Big Name on UCI Campus". Los Angeles Times. June 10, 2004. Archived from the original on July 10, 2011. Retrieved 2010-07-28.
  51. ↑ "About Donald Bren". University of California, Irvine. Retrieved 2010-07-28.
  52. 1 2 3 4 Pasco, Jean O. (October 30, 2005). "Bren Aims to Keep Riches Private". Los Angeles Times.
  53. 1 2 Orange County Weekly: "Steven Bren, Son of Billionaire Irvine Co. Chairman, Lands on Tax Delinquent List" By Matt Coker Archived 2011-09-01 at the Wayback Machine April 13, 2010
  54. 1 2 3 Hardesty, Greg (August 24, 2010). "Bren's kids: Vague memory of father". Orange County Register.
  55. ↑ Apodaca, Patrice (October 3, 1997). "Bren Scion to Head Home-Building Firm". Los Angeles Times.
  56. 1 2 Pasco, Jean O. (May 18, 2003). "Bren's Plans Didn't Include Legal Spotlight". Los Angeles Times.
  57. ↑ Pasco, Jean (January 8, 2006). "Billionaire's Plans Put Community En Garde". LA Times. p. B4. Retrieved 2008-09-21.
  58. ↑ Frammolino, Ralph (3 November 1990). "Observers Say Irvine Co. Could Land Direct Line to Wilson : Politics: Some see too many personal and political ties between the company and the candidate to dismiss the significance of a Wilson gubernatorial victory". Los Angeles Times . p. 3. Retrieved 16 April 2023.
  59. ↑ Kraft, Scott (13 February 2011). "Donald Bren's legacy". Los Angeles Times. Archived from the original on 6 March 2014. Retrieved 29 September 2012.
  60. ↑ "Who are the big political donors in Orange County?". Orange County Register. 2019-11-03. Retrieved 2024-01-08.
  61. ↑ Moore, Robert (2002-11-21). "Club 100: Over 100 Americans gave more than $100,000 to state political parties". Center for Public Integrity. Retrieved 2024-01-08.
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