Matthew Bucksbaum

Matthew Bucksbaum
Born February 20, 1926
Marshalltown, Iowa, U.S.
Died November 24, 2013 (aged 87)
Ethnicity Jewish
Education B.A. University of Iowa
Occupation Real estate developer
Known for Co-founder of General Growth Properties
Net worth $1.2 billion (2011)
Spouse(s) Carolyn Swartz
Children John Bucksbaum
Ann Bucksbaum
Parent(s) Ida Gervich
Louis Bucksbaum
Family Martin Bucksbaum (brother)

Matthew Bucksbaum (February 20, 1926 – November 24, 2013) was an American businessman and philanthropist. He co-founded General Growth Properties (NYSE: GGP).[1]

Early life

Bucksbaum was born to a Jewish family[2] in Marshalltown, Iowa, to Ida (Gervich) and Louis Bucksbaum. He graduated from the University of Iowa cum laude with a Bachelor of Arts in Economics in 1949, where he was a member of the Phi Beta Kappa Society and the Order of Artus.[3][4]

Career

Together with his brother Martin, he co-founded General Growth Properties (NYSE: GGP), a real estate development company, and opened his first shopping center in Cedar Rapids, Iowa in 1954.[5] By 1972, the company became publicly traded on the New York Stock Exchange, and it became the second largest owner, developer, and manager of regional shopping malls.[5][6] He served as its Chairman and Chief Executive Officer.[6] He formed two Real estate investment trusts and was responsible for the purchase of shopping centers for more than $36 billion.[4]

Philanthropy

He sat on the Board of Trustees of the Aspen Music Festival and School, the Chicago Symphony Orchestra and the Lyric Opera of Chicago.[4] He was a President of the Temple B'nai Jeshurun and the Polk County Mental Health Association, and a Director of the Iowa Natural Heritage Foundation, all in Des Moines, Iowa.[4]

He donated US$42 million to the University of Chicago for the creation of the Bucksbaum Institute for Clinical Excellence.[6]

Personal life

He was married to Carolyn (Swartz) Bucksbaum, who was also Jewish.[6][7][8] They had two children.[3] Their son, John Bucksbaum, served as CEO of General Growth Properties from 1999 to 2008, and as its Chairman from 2007 to 2010.[5] Their daughter Ann Louise Bucksbaum is married to journalist Thomas Friedman.[9] They resided in Chicago.[3] As of March 2011, he was worth an estimated US$1.2 billion.[3]

Death

He died on November 24, 2013.

References

  1. ↑ "Matthew Bucksbaum, mall developer, dies". The Chicago Tribune. Retrieved 2013-11-30.
  2. ↑ Jewish Journal: "Dark days for Jewish owners of Chico Mall" by Dean Rotbart December 9, 2008
  3. ↑ 3.0 3.1 3.2 3.3 Forbes
  4. ↑ 4.0 4.1 4.2 4.3 The Wall Street Journal
  5. ↑ 5.0 5.1 5.2 Keren Blankfeld, The Tarnishing of the Bucksbaum Family Legacy, Forbes, August 18, 2010
  6. ↑ 6.0 6.1 6.2 6.3 Bucksbaum Institute
  7. ↑ Bruce Weber (November 29, 2013). "Matthew Bucksbaum, Mall Developer, Dies at 87". The New York Times.
  8. ↑ IOWA WOMEN’S ARCHIVES - UNIVERSITY OF IOWA LIBRARIES: "CAROLYN “KAY” BUCKSBAUM (1929- )" retrieved April 1, 2015
  9. ↑ Forbes: "Thomas Friedman is On Top of the World" by Garrett M. Graff July 1, 2006