Latest news with #SimonPropertyGroup
Wall Street Journal
15-06-2025
- Business
- Wall Street Journal
America's Last Mall King Is Still in Charge, Even After a Deadly Diagnosis
David Simon had to step in to rescue the family business when he was 29 years old. Now, more than three decades later, America's last mall king is thinking about whether his own son will be ready to take the helm. The chief executive of Simon Property Group SPG -1.19%decrease; red down pointing triangle is battling a deadly cancer but isn't ready to step aside. Even as he scales back his working hours to deal with his health, the notorious micromanager has never been good about giving up control.
Yahoo
15-06-2025
- Business
- Yahoo
America's Last Mall King Is Still in Charge, Even After a Deadly Diagnosis
David Simon, the CEO of Simon Property Group, is battling cancer but has never been one to give up control.
Yahoo
29-05-2025
- Business
- Yahoo
Popular Department Store Announces More Store Closings Across the U.S.
JCPenney is shifting its structure once again and will be shutting down a number of its stores across the country before the end of the month. The department store chain which was originally founded in 1902 announced the upcoming closures in February, when a company spokesperson mentioned that a 'handful' of their locations were set to close in 2025. The number of stores was not specified in the original announcement, but according to a Tuesday, May 20 report by USA Today, that number is seven. The multiple closures come five years after JCPenney filed for Chapter 11 bankruptcy protection in 2020, which resulted in more than 200 locations shutting down across the nation. In December of that same year, the department store was acquired by Simon Property Group and Brookfield Asset Management Inc. Consumers took to X (formerly known as Twitter) to share their reactions to the news. 'The downfall of malls is so sad but they are so expensive for no reason,' wrote one user. A second user noted, 'Oh no! I love JCPenney! I DO NOT want to order clothes online. I want to touch the fabric, assess how it looks on my body type, and try clothes on. Not everyone looks like a model!' A third user warned, 'This'll be a grave mistake for the folks who love to shop online. Malls are a necessity.' JCPenney announced a partnership with Forever 21 in January as part of a larger merger to form a new company called Catalyst Brands. Some of the brands included are Aéropostale, Nautica, Lucky Brand, Brooks Brothers, and Eddie Bauer. Catalyst Brands was set to hire 60,000 employees and open 1,800 new store locations. A spokesperson for the department store noted that the store closures are not related to or a result of the merger. Brick-and-mortar JCPenney locations in California, Colorado, Idaho, Kansas, New Hampshire, North Carolina, and West Virginia are scheduled to close on Sunday, May 25.
Yahoo
22-05-2025
- Business
- Yahoo
Forbes 400: How many billionaires live in Indiana?
Forbes has released its annual list of the 400 richest people in America, collectively about $5.4 trillion — yes, with a t, as in 5,400 billions — richer than they were a year ago. How many Hoosiers made the list? The Bloomington 62-year-old is the richest person in Indiana. His estimated $10.7 billion wealth was made in the medical device business. Cook took over as CEO of Cook Group in 2011 when his father died. Forbes ranks him as the 89th-richest American. The Indianapolis-based real estate mogul is Indiana's second-wealthiest resident and tied for 256th-richest American. Forbes lists the 89-year-old Simon's net worth at $5.1 billion. He and his late brother Melvin founded the Simon Property Group in 1960, giving him a local connection: University Park Mall in Mishawaka is a Simon Property Group property. Simon also owns 80% of the Indiana Pacers and Indiana Fever. The third Hoosier billionaire is Jim Irsay, who inherited the Indianapolis Colts from his father, Robert, in 1997. Irsay died Wednesday, May 21, after he was included in the Forbes rankings. A 65-year-old Carmel resident, Forbes lists his net worth as $4.8 billion, which places him 278th in the ranking of richest Americans. He was named the Colts general manager in 1984 at the age of 24. Upon his father's death, he became 100% owner of the team. This article originally appeared on The Herald-Times: Ranking the richest Hoosiers Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Forbes 400: How many billionaires live in Indiana?
Forbes has released its annual list of the 400 richest people in America, collectively about $5.4 trillion — yes, with a t, as in 5,400 billions — richer than they were a year ago. How many Hoosiers made the list? The Bloomington 62-year-old is the richest person in Indiana. His estimated $10.7 billion wealth was made in the medical device business. Cook took over as CEO of Cook Group in 2011 when his father died. Forbes ranks him as the 89th-richest American. The Indianapolis-based real estate mogul is Indiana's second-wealthiest resident and tied for 256th-richest American. Forbes lists the 89-year-old Simon's net worth at $5.1 billion. He and his late brother Melvin founded the Simon Property Group in 1960, giving him a local connection: University Park Mall in Mishawaka is a Simon Property Group property. Simon also owns 80% of the Indiana Pacers and Indiana Fever. The third Hoosier billionaire is Jim Irsay, who inherited the Indianapolis Colts from his father, Robert, in 1997. Irsay died Wednesday, May 21, after he was included in the Forbes rankings. A 65-year-old Carmel resident, Forbes lists his net worth as $4.8 billion, which places him 278th in the ranking of richest Americans. He was named the Colts general manager in 1984 at the age of 24. Upon his father's death, he became 100% owner of the team. This article originally appeared on The Herald-Times: Ranking the richest Hoosiers
