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Donald BrenReal estate tycoon
Country:
 USA |
Content:
Biography of Donald Bren
Donald Bren Leroy, a real estate magnate of the United States, was born in Los Angeles and currently resides in Newport Beach, California. He grew up in his father's new family, with his mother being replaced by actress Claire Trevor.
Education and Military Service
Bren attended the University of Washington and was a member of the Beta Theta Pi fraternity. In 1956, he even attempted to join the Olympic ski team. After graduating with a degree in business administration and economics, Bren decided to serve in the Marine Corps, where he spent the next three years as an officer.
Business Career
In 1958, Bren started his business career by establishing the "Bren" company, which focused on home construction in Orange County. In 1963, he formed the "Mission Viejo Company" and began planning and constructing a new 11,000-acre community as its president.
In 1967, Donald Bren sold his shares in the "Mission Viejo" company and shifted his focus to the "Bren" company (later renamed "California Pacific Homes"), which built residential neighborhoods in Orange County, Los Angeles, County of Kern, San Diego, and Northern California. In 1977, Bren joined a group of investors to purchase the Irvine Company, becoming the largest shareholder with a 34% stake. He became the vice president and a member of the executive committee. By April 1983, he acquired the remaining shares, making him the sole owner of 92% of the company's shares. Bren was then elected as the chairman of the board of directors. In July 1996, he became the sole shareholder of the company.
Contributions and Philanthropy
Bren has funded numerous institutions in Southern California. In 2007, the University of California, Irvine announced a $20 million donation from Donald Bren for the development of a new faculty. As a token of gratitude, the new law school, expected to open in the fall of 2009, will be named after Donald Bren.
Currently, Forbes magazine ranks Donald Bren as the 56th richest person in the world, with a net worth of $13 billion (as of March 5, 2008).
In his own words, describing his work at the Irvine Company, Bren says, "As master planners, we combine architectural skills and planning skills, add to that order in business and finance, and the result is well-thought-out communities. I believe the Irvine Company provides an excellent opportunity for anyone interested in real estate."
