Jeffrey Soffer Net Worth 2024

What Is Jeffrey Soffer’s Net Worth?

Jeffrey Soffer is an American actual property developer who has a net worth of $2 billion. Jeffrey Soffer might be finest identified exterior of the true property growth world for being married to supermodel Elle Macpherson from 2013 to 2017.

Jeffrey Soffer one in every of seven kids born to Donald Soffer, the founding father of Florida actual property empire Turnberry Associates. Donald Soffer made his first actual property fortune after growing Aventura, which might finally develop into one of many wealthiest personal communities in Florida. Today, Turnberry Associates has actual property tasks in cities throughout the United States, together with Las Vegas, Orlando, and Arlington. They even have a mission on Paradise Island within the Bahamas.

Turnberry builds and manages condos, procuring facilities, and industrial places of work, and thus far they’ve developed 20 million sq. feet of retail house, 1.5 million sq. feet of workplace house, 2000 lodge rooms, and greater than 7000 condos. In complete, Turnberry has developed over $7 billion price of property.

Jeffrey served as Turnberry’s Chairman and CEO till 2019 when he and his sister, Jackie Soffer, divided the corporate’s belongings. As a end result, Jeffrey turned the only real proprietor of JW Marriott Turnberry Miami, the Fontainebleau Miami Beach, Turnberry Ocean Club, Turnberry Isle Marina, and the Big Easy Casino. The Soffer family has been ranked as one in every of America’s Richest Families.

Early Life

Jeffrey Soffer was born Jeffrey Miller Soffer in 1968 in Miami, Florida. He is the son of Donald and Carol Soffer, and his sister, Jackie, is the CEO of Turnberry Associates. Donald has been married 5 occasions, and Jeffrey has 5 half-siblings, Marsha, Jill, Brooke, Abigail, and Rock. Soffer started working for his father when he was 17 years previous, and since he did not get pleasure from college, he dropped out of college and based a ship dealership, Champion Marine, in 1986.

Career

In 1967, Donald Soffer based Turnberry Associates and bought a 785-acre tract of undeveloped land in Florida’s Miami-Dade County. On the land, he constructed a mall, condos, and workplace buildings, and in 1995, the world turned an integrated metropolis often called Aventura. Aventura Mall, which was inbuilt 1983, turned one in every of America’s highest-grossing procuring facilities and is the fifth-largest mall within the nation.

Jeffrey joined Turnberry Associates in 1987 after promoting Champion Marine. Within just a few years his father had put him answerable for new condominium developments. In 1997, Jeffrey Soffer was the primary developer to suggest the thought of constructing high-rise condos in Las Vegas. His very first mission, Turnberry Place, quickly generated over $1 billion in gross sales.

In 2005, Soffer bought the Fontainebleau Hotel for $325 million and redeveloped it because the Fontainebleau Miami Beach. He proceeded to spend $1 billion on renovations, including greater than 500 rooms and a 40,000 sq. foot spa and making house for 11 nightclubs and eating places. In 2008, he hosted a $5 million occasion for the Fontainebleau’s grand reopening, which featured a Victoria Secret’s trend present and a Mariah Carey live performance.

Jeffrey later offered a 50% curiosity the Fontainebleau to the Dubai-based resort firm Nakheel Leisure for $375 million to assist fund the Fontainebleau Las Vegas, however his lenders minimize off funding when the resort/on line casino/theater was 70% completed. Soffer subsequently sued the lenders for the remainder of the mortgage cash he had been promised, and a number of other title corporations that had insured the loans filed lawsuits in opposition to him.

In 2022, he spoke to “Hotel Business” about his new firm, Fontainebleau Development, stating:

“Fontainebleau Development’s portfolio contains properties within the hospitality, residential, retail, industrial and luxurious providers sectors, together with premier belongings, resembling Fontainebleau Miami Beach, JW Marriott Turnberry Resort & Spa, JW Marriott Nashville, Hilton Nashville Downtown, SoLeMia Miami, and quite a few residential landmarks, resembling Turnberry Ocean Club, Turnberry Ocean Colony, Porto Vita, the Tresor and Sorrento towers at Fontainebleau Miami Beach. Our luxurious providers division contains Fontainebleau Aviation, Turnberry Marina, Turnberry Isle Country Club and a number of the highest-grossing and well-known meals, beverage and wellness locations on this planet.“

In the interview, Soffer additionally shared his enterprise ideas:

“Create what’s extraordinary. We shouldn’t be restricted by what was achieved earlier than us, however study from the previous and push to see what is feasible.“

Personal Life

Jeffrey started a relationship with supermodel Elle Macpherson in 2009. They cut up up in early 2012 and reconciled that November after Soffer was injured in a helicopter accident within the Bahamas. In the crash Jeffrey suffered a fractured vertebrae and some damaged bones, and sadly, his buddy Lance Valdez didn’t survive. In December 2013, Jeffrey was sued for wrongful loss of life by Valdez’s widow, who alleged within the $100 million lawsuit that Soffer “was recklessly flying and controlling the helicopter on the time of the helicopter crash with out an up-to-date and legitimate helicopter pilot’s license.” The lawsuit was dismissed two years later.

Jeffrey and Elle married in July 2013. They divorced in 2017.

Soffer was married to a girl named Kimberly earlier than his relationship with Macpherson. He has three kids from earlier relationships.

Jeffrey threw himself a $2 million occasion for his fortieth birthday, and Prince and KC and the Sunshine Band carried out on the occasion. Lesley Abravanel, an leisure columnist for the “Miami Herald,” stated of the birthday bash, “It wasn’t only a fast sampling of Prince’s biggest hits, both. It was a mind-blowing, full-blown live performance.”

In a 2022 interview with “Hotel Business,” Soffer was requested how he maintains his work/life stability, and he responded, “Find issues you might be enthusiastic about. It is necessary to have hobbies that take you out of labor. Some of my finest concepts come from simply being exterior with my family. Relationships with family, pals and family members are, by far, the best supply of inside satisfaction. If your job or profession is damaging your private relationships, each areas will finally undergo.”

Real Estate

During their marriage, Jeffrey and Elle lived in a $26 million property that Soffer bought in 2000. The Mediterranean-style house is situated in Indian Creek, Florida, and measures almost 25,600 sq. feet. Jeffrey has additionally owned a ranch in Aspen, Colorado.

Yacht

In 2019 Jeffrey paid $170 million for a 257-foot yacht he named Madsummer. Madsummer prices $15-20 million per 12 months to function. Here it’s pictured off the coast of Italy: