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David Lichtenstein

Net Worth: $1.5B   |   New York, New York
The Lightstone Group CEO
David Lichtenstein

David Lichtenstein bought his first piece of property, a single-family house in New Jersey, for $89K, obtaining the funds largely through credit card debt. He kept buying homes, and later expanded to retail and hotels. In 2007, he put in $200M in equity and $7.4B in debt to acquire Extended Stay America. The chain later went into bankruptcy protection.

His Lightstone Group now controls assets in retail, hotel and multifamily, spread across 26 states. — Scott Klocksin

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