John Albert Sobrato Net WorthReal Name: John Albert Sobrato
Date of Birth: 04/01/1939
Place of Birth: San Francisco, California
2017 Net Worth: $4.7 Billion
Profession: Founder and Chairman of Sobrato Development Co.
John Sobrato Biography
John Sobrato was born in April of 1939 in San Francisco, California. His parents owned a very popular restaurant in town called John’s Rendezvous. When his father died in 1952, Sobrato’s mother sold the restaurant and used the money to invest in local real estate in San Francisco.
Sobrato attended Santa Clara University and began investing in his own real estate in 1957 while he was attending college. He had bought his own home earlier but sold it along with other homes in the Palo Alto area. He later worked alongside his mother to develop industrial properties. In this way, Sobrato began to build his commercial real estate empire throughout the 1960’s and 1970’s. In 1979, Sobrato founded his own real estate development company called Sobrato Development Company. This family-owned company now owns more than 7.5 million square feet of commercial property in the prestigious Silicon Valley, including 7,600 residential homes along the west coast, more than 110 office buildings, as well as the headquarters of some of the biggest names in the US including Yahoo, Netflix, and Apple.
Sobrato’s son took over leadership of the company in 1998 but in 2013, both father and son announced that they wanted to focus on their charitable activities and they have moved away from the daily operations of the company. Both Sobrato and his son have signed the Warren Buffet’s Giving Pledge, which means they have agreed to donate at least half of their wealth to charitable organizations or purposes. To date the Sobrato family has given more than $314 million in both money and property to charitable ends including Santa Clara University, Sobrato High School, and many other organizations.
Sobrato lives in Atherton, California and even after giving away millions, is still worth an impressive $4.7 billion. Although real estate expert Rob Hollister will be taking over the daily operations of the company, the family retains ownership and continues to earn substantial sums of money each year.