Bearded and blunt-spoken, Sam Zell reveled in bucking traditional wisdom. He had a golden touch with real estate, managing apartment buildings as a college student.
The media giant filed for bankruptcy the following year.
Zell was born in Highland Park, Ill., on Sept. 28, 1941, four months after his immigrant parents arrived in the United States. His first successes in real estate came while he was a student at the University of Michigan. After managing the building where he lived in exchange for free rent, he moved on to managing other properties, ultimately incorporating an apartment-management business and then selling it.
He also encouraged institutional investors to pool their money for commercial real estate in the early ’90s when it was on the outs.He once acknowledged riding his motorcycle as fast as 145 mph on a trip across the South American pampas.
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