Simon Property Group’s David Simon Passes Away, Age 64

David Simon, chairman, CEO and president of Simon Property Group, Inc., who built the company into the largest retail real estate firm in the world, passed away Sunday after a battle with cancer. He was 64 years old.

Due in large measure to David Simon’s emphasis on succession planning, the board has appointed Eli Simon as CEO and president. He will also continue as COO and director. in addition, Larry Glasscock has been appointed to serve as non-executive chairman.

David Simon joined the company’s predecessor, Melvin Simon & Associates, as CFO in 1990, bringing with him the rigorous analytical training of a Wall Street investment banker first honed at First Boston Corporation and then at Wasserstein Perella & Co. In 1993, at age 31, he orchestrated the company’s initial public offering on the New York Stock Exchange, raising nearly $1 billion in what was then the largest real estate public stock offering in history.

Two years later, he became one of the youngest CEOs of a major publicly traded company in America. Under his leadership, Simon Property Group has delivered a cumulative total shareholder return of more than 4,500% since its IPO.

“David’s legacy transcends financial performance,” Glasscock said in a statement on behalf of the board. “He was a leader of uncommon integrity, fierce loyalty and deep personal conviction. He inspired everyone around him to reach higher, think bigger, and never settle. He set the standard — not just for our company, but for an entire industry. All of the Simon Malls, the world-class Simon Premium Outlets and every mixed-use destination in our portfolio bear the imprint of his vision and his exacting standards.”

Details regarding memorial services will be shared by the Simon family at a later date. In lieu of flowers, the family requests that contributions be made to the Anti-Defamation League, American Jewish Committee, UJA Federation of New York and Foundation to Combat Antisemitism.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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