Herbert Simon Biography – Billionaire And Indiana Pacers Owner

  • 5 MIN READ
Herbert Simon Biography

Herbert Simon is the owner of NBA team, Indiana Pacers. Image Source: Social Media.

  • Birth DateOctober 23, 1934
  • Birth Name Herbert Simon
  • Age 90
  • Also Known As Herb Simon
  • Father's Name Max Simon
  • Mother's Name Mae Simon
  • Birth Place Brooklyn, New York, USA
  • Birth Sign Scorpio
  • Nationality American
  • Profession Businessman
  • Net Worth $2.4 Billion
  • Partner Bui Simon
  • Relationship Status Married
  • Children 10; Sarah Elisabeth Meyer Simon, Rachel Mariam Meyer Simon, Asher Benjamin Meyer Simon, Jennifer Simon, Stephen H. Simon
  • Education B.B.A.
  • Wikipedia https://en.wikipedia.org/wiki/Herbert_Simon_(real_estate)

If you’re a huge basketball fan, then chances are you’re already aware of Herbert Simon, the current owner of the Indiana Pacers. Likewise, he is also a real estate developer and the co-founder of Simon Property Group. All in all, he has gathered both fame and fortune by investing in a renowned NBA team.

Did you know Herb Simon is in his mid-eighties now? However, many people are unaware of his day-to-day life. As such, learn more about his struggles and other personal information in this brief biography.

Founded A Company With His Brother

The NBA team owner was born on October 23, 1934, in Brooklyn, New York, USA. Herbert Simon’s parents are Max Simon and Mae Simon. Moreover, his father was a tailor and had emigrated from Central Europe.

Furthermore, the investor grew up alongside his brother Melvin Simon. He was also a businessman and film producer. Herbert and Melvin are the founders of Simon Property Group, the real estate investment trust that invests in shopping malls, community/lifestyle centers, and outlet centers. And in 1983, the Simon siblings purchased the Indiana Pacers. Unfortunately, Herbert’s brother died of cancer on September 16, 2009.

Talking about Herbert’s education, he earned a Bachelor’s in business from The City College of New York.

Also Read: More about Elizabeth Guber’s Biography

Herbert Simon Net Worth – $2.4 Billion

Having come from a humble family background, Simon has now established himself as a successful entrepreneur. From owning a real estate company to being an owner of one of the most well-known NBA teams, Herbert has amassed enormous money. Thus, according to Celebrity Net Worth, Herbert Simon’s net worth is $2.4 billion.

Furthermore, Herbert is a self-made billionaire who built his fortune through the company he co-founded with his late brother. As mentioned earlier, Simon Property Group owns, develops, and maintains leading retail, dining, and entertainment destinations, consisting primarily of malls, premium outlets, and mills. Moreover, in the USA, the firm has about 199 properties, including 95 malls, 69 Premium Outlets, 14 Mills, six lifestyle centers, and 15 other retail properties in 37 states and Puerto Rico.

Moreover, Herbert and his late sibling purchased the NBA team Indiana Pacers in 1983 for $10.5 million. And now, the Pacers’ value is estimated to be $1.67 billion as of October 2021. Not only Pacers, he is also the owner of the Indiana Fever of the WNBA. Aside from that, Kirkus Reviews, an American book review journal that was founded in 1933, was also purchased by Herbert in 2010.

So, it’s not surprising that Herbert Simon’s net worth is $2.4B, given his several business ventures. Also, according to the news that came in 2018, his wife bought a house worth $33.85 million, all by herself. It was said that Herbert was not involved in the Palisades mansion purchase.

Aside from earning, Simon is also devoted to giving back to society. He has founded the Herbert Simon Family Foundation, where two generations of his family have served on the board. The foundation distributes funds to worthy causes and is helping many people.

Tilman Fertitta is another businessman with massive earnings.

Has Been Married Thrice

Talking about Herb’s marital life, he is happily married to Bui Simon. The duo walked down the aisle in 2002. Herbert Simon’s wife is a television personality and philanthropist, and she was also crowned Miss Universe in 1988. Moreover, she is also the founder and president of Angels Wings Foundation.

Herbert Simon Wife
Herbert Simon is married to Bui Simon, former Miss Universe. Photo Source: 

However, this was not Herbert’s first marriage; he had previously tied the knot with two other women before Bui. He was first married to Sheila Simon, but their marital bliss didn’t last long. Later in 1981, the billionaire wedded Diane Meyer Simon, former political staff for Indiana Senator Birch Bayh. But sadly, the ex-pair divorced in 2000.

However, Simon has not revealed about his divorce settlement or alimony with his ex-wives.

Blessed With Ten Children

The renowned business tycoon is blessed with ten children. He and his first wife shared two children, Jennifer Simon and Stephen H. Simon. The latter is also Herbert Simon’s firstborn and founder of Simon Equity Partners.

Moreover, Simon Property Group’s chairman emeritus also welcomed three kids with his second spouse. Herbert Simon’s daughter, Sarah Elisabeth Meyer Simon, is an investor, and his other little girl, Rachel Mariam Meyer Simon Stuart, is an artist and philanthropist. Likewise, his son, Asher Benjamin Meyer Simon, is also said to be an artist. They all are doing great in their lives and living a modest lifestyle. The Simon siblings also serve as board members for the Herbert Simon Family Foundation.

In addition, Simon and his current wife have two biological children, and the couple has also adopted three babies of Bui’s sister after her death. However, the little ones have been kept away from the media by their parents. Regardless, the duo must be showering them with immense love and care.

Let’s hope the entrepreneur opens up more about his personal life in the coming days. He seems to be leading a peaceful life. We wish him sound health and more happiness ahead.

Trivia And Facts

  • He is not active on Instagram.
  • Herbert was born to a Jewish family.