Fred Wilpon Net Worth, Wiki Bio, Source Income, Salary, Earnings, Nationality, Age

Fred Wilpon Net Worth

Wiki Biography of Fred Wilpon

Fred Wilpon is a businessman who is best known for co-founding Sterling Equities, a real estate development corporation. He was born on November 22, 1936, in Bensonhurst, Brooklyn, New York City, USA. Fred is also one of the owners of the Major League Baseball team the New York Mets. His professional career began in 1972.

Have you ever wondered how wealthy Fred Wilpon is right now, in the middle of 2016? Fred Wilpon’s net worth has been reported to be as high as $500 million, according to credible sources, an amount he has amassed through his successful commercial career.

Fred Wilpon has a net worth of $500 million dollars.

Fred was raised in a Jewish family, which had a significant impact on his upbringing. He attended Lafayette High School in Brooklyn before enrolling at the University of Michigan following graduation. He fell in love with baseball while there and was a pitcher in his junior year, but he was hurt and had to end his career before it really begun.

He sold calculators after college before co-founding Sterling Equities with his wife’s brother, Saul Katz, in 1972. His first business venture, building town houses in Tarrytown, was a success, as was their second, when the two decided to buy low-cost property across the country in order to escape hefty tax costs at the bottom of a cycle. They went on to build one of the country’s largest real estate development enterprises.

Fred was able to expand his company into sports and realize his dream of owning a baseball franchise. Fred purchased 1% of the New York Mets from Charles Shipman Payson in 1980. The rest of the squad was owned by the publishing company Doubleday & Co., but in 1986, the company’s president Nelson Doubleday Jr. opted to sell the team to Bertelsmann AG for $81 million, and Fred purchased half of the ownership. Fred’s ownership of the New York Mets rose in 2002, when he purchased the remaining Doubleday shares for $391 million, making him the dominant owner. In 1980, Fred became the team’s president, a role he held until 2002. He is currently the chairman of the board, having assumed the role in 2003.

 

Fred, on the other hand, was a victim of a Ponzi scheme perpetrated by so-called numerous investors, including Bernard Madoff, in which he lost roughly $700 million and was forced to pay $162 million as part of a settlement in a case brought by the victims.

Nonetheless, Fred is known for his philanthropic activities; he and his wife donated $5 million to the University of Michigan to establish the Irene and Morris B. Kessler Presidential Scholarship Fund in honor of his wife’s parents, as well as funding the University of Michigan Bone & Joint Injury Prevention & Rehabilitation Center.

Fred Kessler has been married to Judy Kessler since 1960, and the couple has three children together. His sons are heavily involved in his firm, and one of them works as a limited partner and community manager at Lerer Hippeau Ventures.

Net Worth $500 Million
Date Of Birth November 20, 1936
Place Of Birth Brooklyn, New York City, New York, United States
Profession Businessperson
Education Lafayette High School, University of Michigan
Nationality American
Spouse Judy Kessler
Children Jeff Wilpon
Parents Nathan Wilpon
Siblings Iris Katz, Richard Wilpon
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