Billionaire Sam Zell, real estate investor, dies aged 81

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North American tycoon became known for his performance in the market and for popularizing high-risk applications. Billionaire Sam Zell, real estate investor. Reuters Billionaire real estate investor Sam Zell has died aged 81, Equity Residential, the real estate investment firm he founded and chaired, said in a statement. The North American tycoon became known for his performance in the market and for his bet on the so-called “distressed assets” — “stressed” or “problem” assets, characterized by high risk. Sam Zell also made a name for himself by popularizing the REIT (Real Estate Investment Trust) structure in the 1990s. It is a real estate investment format, traditional in the US, based on companies that grant properties in exchange for rent, in addition to other operations. The billionaire has built his fortune operating not only in the sector: he has also invested in manufacturing, travel, retail, healthcare and energy businesses, reported Equity Residential. He had a net worth of $5.2 billion, according to Forbes.

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