Early Life and Education
Richard S. LeFrak was born in 1945 in New York City to a Jewish family. His father, Samuel J. LeFrak, was a real estate developer. Richard graduated cum laude from Amherst College with a B.A. and holds a J.D. from Columbia University. In 1998, he received an honorary doctorate degree from Amherst College.
Rise to Success
Richard LeFrak joined the family business, LeFrak Organization, in 1968 and became president in 1975. He assumed the role of chairman and CEO in 2003 following his father's death. Under his leadership, the company has grown into one of the largest real estate developers in the New York metropolitan area. A significant achievement has been the development of Newport, a large-scale mixed-use community in Jersey City, New Jersey.
Key Business Strategies
LeFrak's business strategies include expanding the company's portfolio with a focus on residential, commercial, and mixed-use properties. The LeFrak Organization has also diversified its investments into hospitality and retail sectors, as well as energy and securities. Furthermore, the company emphasizes community development and long-term ownership.
Philanthropy
Richard LeFrak actively participates in philanthropy through the Richard S. and Karen LeFrak Charitable Foundation. The foundation supports charitable organizations, institutions of higher learning, hospitals, research facilities, and cultural programs. LeFrak's philanthropic efforts also include contributions to education and healthcare.