Theodore N. Lerner Net WorthReal Name: Theodore N. Lerner
Date of Birth: 10/15/1925
Place of Birth: Washington, DC
2017 Net Worth: $5 Billion
Profession: Owner of Lerner Enterprises, Owner of the Washington Nationals
Ted Lerner Biography
Theodore “Ted” Lerner was born in Washington, DC in October of 1925. He graduated from Roosevelt High School in 1944, and then served in the US Army as a typist during the last part of World War II. After his service, he attended George Washington University, where he received an BA degree, then continued his education at the George Washing University Law School, where he would receive an LLB in 1949. To help support himself during his time at law school, Lerner sold real estate on the weekends. He found this job very interesting.
Borrowing $250 from his wife, he founded Lerner Enterprises in 1952. This company has since gone on to be the largest private land owner in the D.C. area. The firm currently owns 20 million square feet of retail and commercial space, more than 7,000 apartments and 750 private home lots. Lerner is also developing apartments, hotels, and office space in the suburbs of Maryland and Virginia. Lerner Enterprises is also a partnership in Chelsea Piers, an entertainment complex on the Hudson River in New York City.
In addition to his real estate ventures, Lerner also owns a stake in Mid-Atlantic Sports Network. He is the majority owner of the baseball team the Washington Nationals, with a 90 percent controlling interest. Lerner is a partner in Monumental Sports and Entertainment, which owns the NBA Washington Wizards, the NHL Washington Capitals, WNBA Washington Mystics, as well as the Verizon Center.
The Lerner family is well-known for their charity work. They recently committed $2 million towards a pediatric diabetic wing at Children’s National Hospital in D.C. as well as donating $5 million to the Lerner Family Health and Wellness Center at George Washington University.
Lerner has a current net worth of $5 billion and is still earning and increasing his net worth through his developments at Tyson’s Corner and the Dulles Town Center.