At age 9, David Weinreb was earning a six-figure income from TV commercial work. By the time he was 16, he had built his first New York condo.
His dad cosigned the loan back then, but Weinreb is the one signing the checks now. He left Dallas-based TPMC Realty Corp. three years ago to take over an entity spun off by bankrupt General Growth Properties.
“There were no systems in place,” says Weinreb, who kicked in $15 million of his own money. “We had to create the brains and organs of the organization.”
That company, The Howard Hughes Corp., owns a portfolio of high-profile properties including The Woodlands in Houston, South Street Seaport in Manhattan, Riverwalk Marketplace in New Orleans, and Summerlin in Las Vegas, which initially was acquired by Howard Hughes—the famous aviator and filmmaker—in the 1950s.
Weinreb expects to have $1.2 billion worth of new projects under construction this year. He’s also grown the company’s work force to more than 900 from 173. Revenue topped $391 million in 2012, compared to $142.71 million in 2010.
A natural entertainer, Weinreb’s been known to belt out a song while sitting at the grand piano in his office. “It’s part of the fun of a controlling name like Howard Hughes and all his greatness,” he says.
David Weinreb was among the EY Entrepreneur Of The Year finalists for 2013. To read profiles of all 50 individuals recognized this year, including Ross Perot and Ross Perot Jr., click here.
