The LeFraks – $6B
LeFrak, the real estate empire, is the claim to fame of this mighty family. The parents of the present CEO Richard Lefrak were the founders of the company. The firm is known for essentially reconstructing Jersey City. LeFrak has expanded to different parts of the country in the past three decades, however. They have many projects in Beverly Hills and South Beach are in the hands of the firm. Richard now runs the day-to-day operations as the company chairman. His two sons, Harrison and James, are the vice-chairmen. It remains privately owned, which keeps the earnings firmly in the pocket of the family.
The LeFraks – $6B
The Davises – $5.9B
Although it is not exactly as splashy as Nike, New Balance continues to be a great sports shoes line. Can you believe that the company is actually more than a hundred years old? Originally known as New Balance Arch Support Company, it has turned the progeny of the founder into a billionaire! Jim Davis now runs the line, and it is not possible to deny that his leadership has taken it to new heights. Sales have never been better, and his personal wealth grew further by investing in Major League Lacrosse. Unfortunately, both the man and the brand have received criticism for making donations to far left political causes. As you can imagine, the backlash has caused the company to suffer significantly.
The Davises – $5.9B
