Jeff Greene

Last updated
Jeff Greene
Jeff Greene and Mary Callahan Erdoes (15751018974) (cropped).jpg
Born (1954-12-10) December 10, 1954 (age 68)
Worcester, Massachusetts, U.S.
Education Johns Hopkins University (BA)
Harvard University (MBA)
Occupation Real estate entrepreneur
Political party Democratic
SpouseMei Sze Chan
Children3

Jeff Greene (born December 10, 1954) is an American real estate entrepreneur. He is a member of the Democratic Party and was a candidate in the 2010 Senate election primaries in Florida. [1] He was a candidate in the 2018 Florida Gubernatorial election, but was eliminated in the primary, finishing in fourth place behind eventual nominee Tallahassee Mayor Andrew Gillum, whom Greene later endorsed. [2]

Contents

Early life

Greene was born in 1954 in Worcester, Massachusetts to a working class Jewish family. [3]

He graduated from Doherty Memorial High School in Worcester [4] after his family moved to Florida in 1970 when his father lost his business, staying with his great-aunt while he finished school. [5] [6] In Florida, his father worked refilling vending machines and his mother worked as a waitress. [7]

Greene worked many jobs to put himself through college at Johns Hopkins University, graduating in three years with a B.A. in economics and sociology. Later he attended Harvard Business School, where he earned his Master of Business Administration (MBA) degree in 1977. [8]

Career

Jeff Greene has had a remarkable 40-year career in real estate, characterized by his impressive portfolio of over a hundred buildings and custom homes. [9] He started with nothing and has lived the American Dream. To pay for college, he relied on scholarships, loans and part-time jobs and taught Hebrew 3 days a week. To pay his way through Harvard Business School, Greene traveled the country selling circus tickets. Then  in 1977 while he was pursuing his studies at Harvard Business School when he purchased his first property—a three-family house that he remodeled and utilized as his residence during his time at Harvard and rented out rooms. He had 18 properties at graduation. [9]

In 1980, Greene relocated to Los Angeles, where he embarked on his first new construction project four years later. This project involved the development of a 27,654 square foot office building located at 11022 Santa Monica Blvd [10] in West Los Angeles. Around the same time, he also acquired and rehabilitated two adjacent buildings at 11040 and 11050 Santa Monica Blvd.

During the late 1980s, Greene focused on constructing condominium buildings, including the ones situated at 3561 Clarington in Palms and 1875 South Beverly Glen in West Los Angeles. Additionally, he undertook the construction of a custom home at 23 Oakmont Drive in Brentwood.

Notably, in recent years, Greene successfully completed a challenging project adjacent to an earthquake fault at 1825 North Las Palmas, positioned at the intersection of Franklin and Highland in Hollywood. [11] The project involved the construction of a six-story, 118-unit apartment building.

In a significant undertaking in Manhattan, Greene oversaw the construction of 100 Vandam, a 25-story luxury tower situated in the west Soho area. [12] The project involved the restoration of the building's original six stories, which were built in 1877 and functioned as New York City's first power plant. Greene's team then added 19 new floors above the restored historic structure, showcasing their commitment to preservation. [12]

In mid-2006, Greene, worried about the possible collapse of the real estate market, spoke with John Paulson, a fellow investor who discussed with Greene his investing strategy. They agreed that the real estate market was unstable and a bubble might be forming in housing. After the meeting, Greene engaged in a similar investing strategy to that of Paulson, which involved a series of unconventional investments trading credit default swaps. The return on Greene's investments ultimately saved his business, and put him on Forbes 400 list. [8]

Since relocating to Florida in 2007, Greene has continued his impactful real estate endeavors. Notably, he developed Cameron Estates, a 548-unit apartment rental building. Greene remains the owner and operator of this building. Additionally, he recently completed the construction of a 300,000 square foot industrial building in West Palm Beach.

Currently, Greene is focused on the completion of One West Palm, [13] a monumental project spanning 1.2 million square feet. This development consists of two 30-story towers, one dedicated to residential use and the other serving as a hotel and office space. These towers stand as the tallest structures in Palm Beach County.

While Greene has plenty of development opportunities in Florida, he has responded to the urgent need for housing in Los Angeles, California.

Philanthropy

Jeff Greene and his wife Mei Sze Chan have made a significant contribution to philanthropy through their participation in the Giving Pledge campaign. The Giving Pledge is a commitment initiated by Bill and Melinda Gates, along with Warren Buffett, that invites billionaires and wealthy individuals to pledge the majority of their wealth to charitable causes during their lifetime or in their will. [14] [15]

Jeff Greene and Mei joined the Giving Pledge campaign, expressing their commitment to giving back and making a positive impact on society. [15] By taking this pledge, they have demonstrated their dedication to addressing pressing social and global challenges.

Through their philanthropic efforts, Jeff Greene and Mei have aimed to support a wide range of causes and organizations. These may include initiatives related to education, healthcare, poverty alleviation, environmental conservation, and other critical areas of need. By leveraging their resources and influence, they have strived to make a meaningful difference in the lives of individuals and communities. Their participation in the campaign signals their intention to contribute a significant portion of their wealth towards philanthropic causes and inspire others to do the same. [15]

2010 US Senate campaign

On April 30, 2010, Greene announced his intention to run as a Democrat for the United States Senate seat held by George LeMieux, saying, "I am an outsider, the only candidate who isn't a career politician. I've succeeded in the real world of hard work – the others have only succeeded at running for political office after office." [16]

Greene stated he would refuse campaign contributions from special interests, and would limit individual donations to $100. [17] His platform focused on economic reforms and job creation. [17]

Greene introduced his story and his campaign with a sixty-second video on YouTube. Greene's campaign was endorsed by the Tallahassee Democrat's editorial board. The board commended Greene for his "edge and an energy that make him want to push beyond the usual talking points", remarking, "we like the toughness he would bring to the office". [18]

Greene's attempt to win the Democratic nomination was, however, unsuccessful; Rep. Kendrick Meek won the primary election before losing to Republican Marco Rubio in the November general election.

Personal life

In 2007, Greene married Chinese Australian real estate executive Mei Sze Chan, who is twenty years his junior in age. [19] [20] Chan is an ethnic Chinese refugee from Malaysia who first fled to Australia with her family before heading to New York City after college. [21] In 2009, she gave birth to their first child. [22] Greene and his wife now have three sons and live in Palm Beach. [23] Greene was quoted as saying, "I just wish I had met Mei Sze 20 years ago". [19] [21]

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References

  1. ↑ Bennett, George (2010-04-30). "Palm Beach billionaire to file as Democrat for U.S. Senate race". The Palm Beach Post. Cox Media. Retrieved 2010-05-06.
  2. ↑ Rohrer, Gray. "Jeff Greene enters crowded Democratic governor's race". OrlandoSentinel.com. Retrieved 2018-06-06.
  3. ↑ Forbes: The Reluctant Billionaire by Susan Kitchens September 11, 2008
  4. ↑ Cohan, Peter (April 23, 2017). "Wall & Main: Multibillionaire Jeff Greene, Worcester native, sees economic trouble ahead". Telegram & Gazette . Retrieved April 26, 2018.
  5. ↑ Clarke, Katherine (October 1, 2013). "Jeff Greene". The Real Deal . Retrieved June 19, 2018.
  6. ↑ Mason, Annah (January 2009). "A Billion in Greene". Equities Magazine. Retrieved 2010-05-06.
  7. ↑ Dorschner, John (2009-12-07). "Wall Street's losses were businessman's gain". The Miami Herald. Retrieved 2010-05-06.
  8. 1 2 Kitchens, Susan (2008-10-06). "The Reluctant Billionaire". Forbes Magazine. Retrieved 2010-05-06.
  9. 1 2 "Jeff Greene". Forbes. Retrieved 2023-06-09.
  10. ↑ "11022 Santa Monica Blvd, Los Angeles, CA 90025 - OfficeMedical for Lease". LoopNet. Retrieved 2023-06-09.
  11. ↑ "'Strong' evidence quake fault runs along site of planned Hollywood skyscrapers, state says". KTLA. 2020-07-22. Retrieved 2023-06-09.
  12. 1 2 "See the "wildly cultivated" residences of 100 Vandam; Now selling West SoHo condos steps from new Google outpost". www.cityrealty.com. Retrieved 2023-06-09.
  13. ↑ "One West Palm". Power Design. Retrieved 2023-06-09.
  14. ↑ "Home - The Giving Pledge". Giving Pledge. Retrieved 2023-06-09.
  15. 1 2 3 "Jeff and Mei Sze Greene - The Giving Pledge". Giving Pledge. Retrieved 2023-06-09.
  16. ↑ Greene, Jeff (2010-04-29). "Jeff Greene for Florida". YouTube. Archived from the original on 2021-12-15. Retrieved 2010-04-29.
  17. 1 2 Smith, Adam; Beth Reinhard (2010-05-01). "Billionaire Democrat Jeff Greene jumps into Florida Senate race". St. Petersburg Times. Retrieved 2010-05-06.
  18. ↑ Tallahassee Democrat endorsement of Jeff Greene
  19. 1 2 Horowitz, Jason (June 25, 2010). "Jeff Greene touts business savvy, outsider status in run for U.S. Senate seat". Washington Post . Retrieved June 25, 2010.
  20. ↑ Wall Street Journal: "In Beverly Hills, A Meltdown Mogul Is Living Large" By JONATHAN KARP January 15, 2008
  21. 1 2 Sipher, Devan; Navarro, Mireya (2007-11-04). "Mei Sze Chan and Jeff Greene". The New York Times.
  22. ↑ Tampa Bay Times: "The women behind the men who would be Florida's senator" By Cristina Silva Archived 2013-04-24 at the Wayback Machine August 1, 2010
  23. ↑ Miller, Kimberley (2010-04-23). "Monday Meeting with Jeff Greene, founder of Florida Sunshine Investments". The Palm Beach Post. Cox Media. Retrieved 2010-05-06.
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