Real Estate's Highest-Paid CEOs
The recent surge in the real estate market has given the industry's biggest leaders big gains in compensation. We did some research to find out which head honchos in the US took home the most cash in 2013.
No. 1) Boston Properties executive chairman Mort Zuckerman
2013 Compensation: $23,821,829
Mort (left, whom we snapped with Carlyle Group's David Rubenstein last year) isn't even the CEO of his venerable firm, but still tops our list in 2013 compensation. (Note: all figures are based on proxy statements firms filed for the 2013 fiscal year, according to Salary.com.) What's more: Mort received no bonus in 2013, and his $1M salary comprised only 4% of the total figure; stock and option awards made up the lion's share.
No. 2) Health Care REIT CEO George Chapman
2013 Compensation: $18,922,696
No. 3) HCP INC. CEO James Flaherty
2013 Compensation: $17,337,394
No. 4) Simon Property Group CEO David Simon (above)
2013 Compensation: $15,695,528
Like Mort, David's salary pales in comparison to his stock awards, which in 2013 totaled almost $11.5M. In the past week, Simon Property spun off about 100 of its assets into a new company, Washington Prime Group, which is publicly traded and includes all of Simon's strip centers.
No. 5) ProLogis CEO Hamid Moghadam
2013 Compensation: $15,190,029
Iranian-born Hamid has been with industrial king ProLogis for 29 years and enrolled at MIT when he was just 16.