Scott D. Malkin Biography & Net Worth
|Popular Name:||Scott D. Malkin|
|Real Name:||Scott David Malkin|
|Birth Place:||United States|
Laura Rice Russell (m. 1984)
|Years active:||1990 Till Date|
|Net Worth:||$200 Million|
|Last Updated:||December, 2020|
One of the leading entrepreneurs of our time, Scott D. Malkin has been a fierce force in the fields of businesses which he has been involved with through most part of his life. An American businessman, Scott D. Malkin net worth stems from his businesses and investments. He is the founder of Value Retail Plc amongst several other business ventures. He co-owns the professional hockey team New York Islanders with his former roommate John Ledecky. Scroll on to get more important facts about this successful icon who has now become a model to many upcoming businesspersons and young entrepreneurs.
Scott D. Malkin’s Early Life
He was born Scott David Malkin in 1959 to a Jewish family of Peter Malkin and his wife Isabel. His father worked in New York City as a real estate investor who owned the Empire State Building. His grandfather was Lawrence Wien, a real estate investor as well. Lawrence Wien is notable to have pioneered the real estate syndication.
Young Scott grew up in Connecticut. He earned degrees from Harvard College, Harvard Business School, and Harvard Law School.
Scott D. Malkin’s Career
In 1990, Malkin sold his retail store concept, “2 Rodeo Drive” in Beverly Hills to a Japanese department store operator called “Sogo”. He relocated to London in England to start up his own ventures. In 1992, he founded the company Value Retail Plc. Using this company, he made good use of his experience in the selling of luxury goods and combined it with the American outlet mall concept, which resulted in an alternative operating model to the common European shopping center.
His company, Value Retail focused on the establishment of outlet centers in the outskirts of big cities. The fashion brands pay 12.5% of annual turnover for the extra advantage of selling excess stock in one of their village outlets. Despite facing huge criticism from taking business from smaller retailers in urban centers, the outlet centers stuck to selling brand name goods that are older than a year.
As of 2015, Value Retail had nine of these “villages” in Europe near London, Paris, Brussels, Madrid, Cologne, Düsseldorf, Barcelona, Dublin, Milan, Munich, Frankfurt ,and Antwerp. Malkin made plans to expand to China in the same year, with villages in Shanghai and Suzhou for a start. By the year 2011, his company, Value Retail Plc had recorded over $1.5 billion in sales.
Sott Malkin expanded his horizon in 2014 when he made a huge acquisition in October that year. Together with Jon Ledecky his former college roommate, he approached former owner Charles Wang and purchased the New York Islanders professional hockey team.
Awards & Achievements
Scott has been appreciated for all his endeavours in front of businesses. He has received worthy mentions from several magazines and publications. Though he was born into a family of real estate investors, he found his own path and invested in his own line of businesses which has now shaped him into the man he is today.
Personal life & Family
Scott Malkin got married to Laura Rice Russell in 1984. His beautiful sister Cynthia Allison Malkin is married to former United States Senator of Connecticut, Richard Blumenthal. Scott is a determined businessperson. He pays attention lot of attention to his business and also spends quality time with his family.
Now 61, Scott D. Malkin trust to maintain a healthy and fit body. He weighs 81kg and has a good height of 178cm. Asides taking his business life seriously, he also cares for his body and pays full attention to his diet and exercise plans.
Scott D. Malkin Net Worth
Scott D. Malkin is a businessman and entrepreneur who has garnered wealth for himself from the scratch. He is known for his business ventures, and also recognized as one of the two owners of the NHL’s New York Islanders.
Scott D. Malkin, born in 1959 to Peter L. Malkin who owned New York’s Empire State Building, is a Harvard Law School and Harvard Business School graduate. Although his father and grandfather were rich, he went on his own path by owning a business concept and store in Beverly Hills, California. He sold of his first venture and used the money to establish the Value Retail Plc in 1992. His company, Value Retail Plc offers outlet centers in outskirts of bigger cities and sell stock from brand name retailers. His company has these “villages” in near nine major cities and has expanded into China, and a few other locations. With more than $1.5 billion sales per year, his company is proving to be successful and all signs indicate further expansion to other parts of the world, leading to more gain.
Scott D. Malkin net worth is $200 million. Most of his fortune is made up of his profits from his businesses, especially his Value Retail Plc. He also earns more income as the co-owner of a professional hockey team that he acquired in 2014.