Early Life and Education
Herbert (Herb) Simon was born in Williamsburg, Brooklyn, New York, to a Jewish family. He graduated from the City College of New York with a Bachelor of Business Administration (B.B.A.) in Business.
Rise to Success
In 1960, Herb Simon and his brother Melvin co-founded Melvin Simon & Associates, which later became Simon Property Group. The company began with strip malls in Indianapolis and grew to become one of the largest publicly traded real estate companies in the United States. David Simon, Herb's nephew, has been the CEO since 1995. Herb Simon's shrewd business decisions, including the acquisition of the Indiana Pacers in 1983 with his brother, and the purchase of Kirkus Reviews in 2010, further contributed to his wealth. Simon served as the chairman emeritus of Simon Property Group until his retirement in February 2025.
Key Business Strategies
Herb Simon's success is rooted in strategic real estate investments, the development and management of shopping malls, and a focus on growing his real estate empire. The Simon Property Group owns and has interests in numerous properties in North America, Europe, and Asia. His ability to identify and capitalize on opportunities within the retail sector has been pivotal to his wealth accumulation.
Philanthropy
Herb Simon has supported various cultural institutions in Indianapolis and is known for his philanthropic efforts, particularly in the areas of education and literacy. The Herb Simon Family Foundation has donated to early childhood literacy efforts.
