Matthew Bucksbaum & family

$1.20 B

Ranked #993 in World

About Matthew Bucksbaum & family

Matthew Bucksbaum (1926-2013), an influential American businessman and philanthropist, left an indelible mark on the retail and real estate sectors. Born in Marshalltown, Iowa, Bucksbaum's journey from a World War II cryptographer to graduating with an Economics degree from the University of Iowa laid the foundation for co-founding General Growth Properties (GGP). Under his leadership, GGP flourished into the second-largest shopping mall entity in the U.S., notably after acquiring The Rouse Company for $14.2 billion in 2004. Despite facing bankruptcy in 2008, Bucksbaum's legacy extended beyond business through significant contributions to cultural and educational institutions, including a $42 million donation to the University of Chicago. His personal life was enriched by his marriage to Carolyn "Kay" Swartz, their two children, and his role as a committed philanthropist until his passing in Chicago from Alzheimer's complications on November 24, 2013.

Born

February 20, 1926 in Marshalltown, Iowa, U.S.

Died

November 24, 2013 (aged 87)

Source Of Wealth

Real Estate

Industries

Real Estate

Citizenship

United States

Residence

Chicago, IL

Education

Bachelor of Arts / Science, University of Iowa

Spouse

Carolyn "Kay" Swartz

Children

Matthew Bucksbaum was born on March 11, 1926, in Marshalltown, Iowa, to a Jewish family. He served in the Army Air Forces during World War II as a cryptographer. After the war, he graduated from the University of Iowa with a Bachelor of Arts in Economics.

Matthew Bucksbaum & family: Family

Matthew Bucksbaum was married to Carolyn "Kay" (Swartz) Bucksbaum, and they had two children: John Bucksbaum and Ann Louise Bucksbaum. John Bucksbaum served as CEO and chairman of GGP, while Ann Louise Bucksbaum married journalist Thomas Friedman.

Matthew Bucksbaum & family: Career Highlights

Matthew Bucksbaum co-founded General Growth Properties (GGP) with his brothers Martin and Maurice. They built the first shopping center in Cedar Rapids, Iowa, in 1954. In the 1960s, they expanded into enclosed malls, mirroring the suburban movement of the time. GGP became the second-largest owner, developer, and manager of regional shopping malls in the United States.

Bucksbaum served as chairman and CEO of GGP, expanding the company's portfolio through acquisitions. In 1984, he sold 19 malls for $800 million, marking a significant real estate transaction. After his brother Martin's death in 1995, Bucksbaum relocated the company to Chicago.

In 2004, GGP acquired The Rouse Company for $14.2 billion. However, due to the stock market collapse in 2008, GGP filed for Chapter 11 bankruptcy protection.

Matthew Bucksbaum & family: Companies

Matthew Bucksbaum was involved with the following companies:

General Growth Properties (GGP)
The Rouse Company

Matthew Bucksbaum & family: Major Achievements

Matthew Bucksbaum's major achievements include:

Co-founding General Growth Properties (GGP) and building it into the second-largest owner, developer, and manager of regional shopping malls in the United States.
Expanding GGP's portfolio through acquisitions, including the purchase of The Rouse Company for $14.2 billion.
Serving on the boards of several cultural and educational institutions, including the Aspen Music Festival and School, Chicago Symphony Orchestra, and Lyric Opera of Chicago.

Donating $42 million to the University of Chicago for the Bucksbaum Institute for Clinical Excellence.

Matthew Bucksbaum & family: Awards & Achievements

Matthew Bucksbaum received numerous awards and recognitions, including:

Ernst & Young Entrepreneur of the Year Award (1995)
International Council of Shopping Centers (ICSC) Hall of Fame (2002)
Chicago Tribune's Chicagoan of the Year (2003)
Forbes 400 Richest Americans (2004)

Matthew Bucksbaum & family: Personal Life & Legacy

Matthew Bucksbaum was known for his philanthropy and civic engagement. He served on the boards of several cultural and educational institutions, including the Aspen Music Festival and School, Chicago Symphony Orchestra, and Lyric Opera of Chicago. He was also president of Temple B'nai Jeshurun and Polk County Mental Health Association, and a director of the Iowa Natural Heritage Foundation.

Bucksbaum's legacy is one of entrepreneurship, philanthropy, and civic leadership. He helped shape the landscape of American retail and made significant contributions to the cultural and educational institutions of Chicago and Iowa.

Matthew Bucksbaum & family: Trivia

Here are some interesting facts about Matthew Bucksbaum:

He was a pilot in the Army Air Forces during World War II.
He was a graduate of the University of Iowa.
He co-founded General Growth Properties (GGP) with his brothers Martin and Maurice.
GGP became the second-largest owner, developer, and manager of regional shopping malls in the United States.
Bucksbaum served as chairman and CEO of GGP for many years.
He was a philanthropist and civic leader, serving on the boards of several cultural and educational institutions.
He passed away in Chicago in 2013 at the age of 87.

Wealth History

Timeline

1926

Matthew Bucksbaum is born in Marshalltown, Iowa, to a Jewish family.

World War II

Serves in the Army Air Forces as a cryptographer.

University of Iowa

Graduates with a Bachelor of Arts in Economics.

1954

Co-founds General Growth Properties (GGP) with brothers Martin and Maurice.

1954

Builds the first shopping center in Cedar Rapids, Iowa.

1960s

Expands into enclosed malls, mirroring suburban movement.

1984

Sells 19 malls for $800 million, marking a significant real estate transaction.

1995

Relocates the company to Chicago after brother Martin's death.

2004

Acquires The Rouse Company for $14.2 billion.

2008

GGP files for Chapter 11 bankruptcy protection due to the stock market collapse.

November 24, 2013

Passes away in Chicago due to complications from Alzheimer's disease.

Matthew Bucksbaum & family : FAQs

What is Matthew Bucksbaum's net worth?

As of 2011, Matthew Bucksbaum's net worth was $1.20 billion.

What are Matthew Bucksbaum's main sources of wealth?

Matthew Bucksbaum's main source of income comes from Real Estate.

In which industry does Matthew Bucksbaum primarily operate?

Matthew Bucksbaum is primarily involved in the Real Estate industry.

What is Matthew Bucksbaum educational background?

Matthew Bucksbaum holds a Bachelor of Arts / Science from the University of Iowa.

Is Matthew Bucksbaum dead?

Yes, Matthew Bucksbaum died on November 24, 2013 (aged 87).

How many children does Matthew Bucksbaum have?

Matthew Bucksbaum has 2 children.

Who was Matthew Bucksbaum and what is he known for?

Matthew Bucksbaum was an American businessman and philanthropist, best known for co-founding General Growth Properties (GGP), which became the second-largest owner, developer, and manager of regional shopping malls in the US.

How did Matthew Bucksbaum contribute to the retail and real estate industry?

Matthew Bucksbaum co-founded General Growth Properties, built the first shopping center in Cedar Rapids, Iowa, in 1954, expanded into enclosed malls during the 1960s, and led significant acquisitions including The Rouse Company for $14.2 billion in 2004.

Can you detail Matthew Bucksbaum's philanthropic efforts?

Matthew Bucksbaum served on boards of several organizations including the Aspen Music Festival and School, Chicago Symphony Orchestra, and Lyric Opera of Chicago. He was also president of Temple B'nai Jeshurun and Polk County Mental Health Association, director of Iowa Natural Heritage Foundation, and donated $42 million to the University of Chicago for the Bucksbaum Institute for Clinical Excellence.