Early Life
Igor Olenicoff was born in Moscow in 1942. His family, with ties to the Tsarist regime, fled the Soviet Union for Iran after the Russian Revolution. In 1957, at the age of 15, he immigrated to the United States with his family. They arrived with $800 and four suitcases. Olenicoff pursued higher education at the University of Southern California (USC), earning degrees in corporate finance and mathematics, as well as an MBA.
Rise to Success
Olenicoff began his career in the corporate world, working for companies like Shell Oil and Touche Ross (now Deloitte). He later served as a VP and business consultant at Motown Records. In 1973, he founded Olen Properties, starting with the purchase of a 16-unit apartment building. Under his leadership, Olen Properties grew significantly, amassing a vast portfolio of commercial and residential properties across multiple states, including over 8 million square feet of office space and 17,000+ residential units.
Key Business Strategies
Olenicoff's business approach emphasized disciplined investment, a methodical growth strategy, and a focus on long-term value creation. Olen Properties' strategy has been to build projects with the express purpose of retaining them indefinitely. He has also focused on hiring and promoting dedicated professionals, which has helped the firm weather multiple real estate recessions. Furthermore, the company's success was achieved through internal operations, without external equity sources.
Philanthropy
After the death of his son, Andrei, Olenicoff, and his wife established the Andrei Olenicoff Memorial Foundation. This foundation supports various causes, particularly those related to visual impairments. The foundation has contributed to organizations such as the Foundation Fighting Blindness and Guide Dogs for the Blind.
