Early Life and Education
John Goff's ambition and entrepreneurial spirit were evident from a young age. Starting his first job at 13, he worked in various roles, from a lumber yard to a used-car business, showing an early aptitude for business. This ambition led him to the University of Texas at Austin, where he initially pursued electrical engineering. However, after a summer internship, he transitioned to accounting, graduating in 1977. This shift proved pivotal, laying the groundwork for his future career in real estate and finance.
Rise to Success
Goff's career took a significant turn in 1987 when he joined famed investor Richard Rainwater. Working with Rainwater provided him with valuable experience in real estate and investing. In the early 1990s, Goff co-founded Crescent Real Estate with Rainwater, designing the strategy and orchestrating acquisitions. Under his leadership, Crescent grew significantly, becoming a public company in 1994 and reaching a valuation of $6.5 billion by the time of its sale to Morgan Stanley in 2007. A decade later, he reacquired Crescent and has been a key player in the commercial real estate world, amassing his fortune and building an empire through astute investments and impeccable timing.
Key Business Strategies
Goff's success is rooted in several key strategies. One of his principles has been buying when capital isn't flowing, which allowed him to make strategic acquisitions during market downturns. His timing in selling Crescent's portfolio before the Great Recession and reacquiring it at a discount later showcased his foresight. Furthermore, Goff's family office, Goff Capital, invests across multiple sectors, including wellness, aerospace, and energy, demonstrating a diversified approach to investments.
Philanthropy
Goff supports the arts and education. He has invested in projects like the documentary film 'Unbranded' and the film 'Albert Nobbs'. Goff also supports the arts through his philanthropy, including a pet project called B Sharp Music that teaches music and supports an orchestra for low-income students.