Early Life
Herb Simon was born in Williamsburg, Brooklyn, New York, on October 23, 1934, to a Jewish family. His father was a tailor who emigrated from Central Europe. Simon graduated from the City College of New York with a Bachelor of Business Administration (B.B.A.).
Rise to Success
In 1960, Herb Simon and his brother Melvin founded Melvin Simon & Associates, which later became Simon Property Group. The company initially focused on developing strip malls, expanding into enclosed shopping centers. Under their leadership, the company grew into the world's largest retail real estate investment trust (REIT). Simon served as co-chairman until 2007 and remained chairman emeritus until February 2025.
Key Business Strategies
The success of Simon Property Group is attributed to strategic acquisitions and expansion. The company went public in 1993, becoming the largest REIT at that time. Simon's leadership included aggressive renovations and mergers, including the merger with DeBartolo Realty Corporation in 1996. By 2024, Simon Property Group owned or had interests in 232 properties.
Philanthropy
Simon is also known for his philanthropy, particularly through the Herbert Simon Family Foundation, which supports organizations in central Indiana. The foundation's focus areas include arts and culture, basic needs, environment and climate, and social justice.