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Barry Sternlicht
Barry Stuart Sternlicht (born November 27, 1960) is an American billionaire and the co-founder (with Bob Faith), chairman, and CEO of Starwood Capital Group, an investment fund with over $100 billion in assets under management. He is also chairman of Starwood Property Trust. He is the founder of Starwood Hotels and Resorts Worldwide and was its chairman and CEO from 1995 to 2005. As of May 2023, his net worth was estimated at $4.6 billion.
Sternlicht is on the board of directors of the Estée Lauder Companies, The Business Council, the Real Estate Roundtable, the Robin Hood Foundation, Dreamland Community Theatre, and the Juvenile Diabetes Research Foundation’s National Leadership Advocacy Program. He was on the board of directors of the Pension Real Estate Association, RH (company), Invitation Homes, Tri Pointe Homes, and is a past trustee of his alma mater, Brown University.
Sternlicht's style has been described as "intense and impetuous."
Sternlicht was born in New York City in 1960 and grew up in Stamford, Connecticut. His father, Maurycy “Mark” Sternlicht, was a plant manager and a Jewish Holocaust survivor from Poland. His mother, Harriet, was from New York and worked as a biology teacher and stockbroker. In 1982, he graduated magna cum laude from Brown University. He then worked as an arbitrage trader on Wall Street. In 1986, he received an MBA (Master of Business Administration) from Harvard Business School.
After graduation, he went to work for JMB Realty, a real estate investment company in Chicago. In 1989, at the start of the savings and loan crisis and the early 1990s recession, he was laid off.
In 1991, at the age of 31, with Bob Faith, Sternlicht launched Starwood Capital Group to buy apartment buildings that were being sold by the Resolution Trust Corporation, created by the federal government to hold and liquidate the real estate assets owned by failed banks after the savings and loan crisis. Sternlicht raised $20 million from the families of William Bernard Ziff Jr. and Carter Burden of New York to fund these purchases.
In 1993, Sternlicht contributed the apartment portfolio to Sam Zell's Equity Residential in exchange for a 20% stake in the company.
In 1994, when Sternlicht was 36, his company purchased Westin Hotels & Resorts in a $561 million transaction in partnership with Goldman Sachs.
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Barry Sternlicht
Barry Stuart Sternlicht (born November 27, 1960) is an American billionaire and the co-founder (with Bob Faith), chairman, and CEO of Starwood Capital Group, an investment fund with over $100 billion in assets under management. He is also chairman of Starwood Property Trust. He is the founder of Starwood Hotels and Resorts Worldwide and was its chairman and CEO from 1995 to 2005. As of May 2023, his net worth was estimated at $4.6 billion.
Sternlicht is on the board of directors of the Estée Lauder Companies, The Business Council, the Real Estate Roundtable, the Robin Hood Foundation, Dreamland Community Theatre, and the Juvenile Diabetes Research Foundation’s National Leadership Advocacy Program. He was on the board of directors of the Pension Real Estate Association, RH (company), Invitation Homes, Tri Pointe Homes, and is a past trustee of his alma mater, Brown University.
Sternlicht's style has been described as "intense and impetuous."
Sternlicht was born in New York City in 1960 and grew up in Stamford, Connecticut. His father, Maurycy “Mark” Sternlicht, was a plant manager and a Jewish Holocaust survivor from Poland. His mother, Harriet, was from New York and worked as a biology teacher and stockbroker. In 1982, he graduated magna cum laude from Brown University. He then worked as an arbitrage trader on Wall Street. In 1986, he received an MBA (Master of Business Administration) from Harvard Business School.
After graduation, he went to work for JMB Realty, a real estate investment company in Chicago. In 1989, at the start of the savings and loan crisis and the early 1990s recession, he was laid off.
In 1991, at the age of 31, with Bob Faith, Sternlicht launched Starwood Capital Group to buy apartment buildings that were being sold by the Resolution Trust Corporation, created by the federal government to hold and liquidate the real estate assets owned by failed banks after the savings and loan crisis. Sternlicht raised $20 million from the families of William Bernard Ziff Jr. and Carter Burden of New York to fund these purchases.
In 1993, Sternlicht contributed the apartment portfolio to Sam Zell's Equity Residential in exchange for a 20% stake in the company.
In 1994, when Sternlicht was 36, his company purchased Westin Hotels & Resorts in a $561 million transaction in partnership with Goldman Sachs.