Larry Silverstein

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Larry A. Silverstein (born May 30, 1931 in Brooklyn , New York City ) is an American investor and billionaire. He is chairman of real estate company Silverstein Properties .

Life

Silverstein was born in Bedford-Stuyvesant, Brooklyn in 1931 to a Jewish family. He graduated from New York University in 1952 . Together with his father Harry G. Silverstein and his brother-in-law Bernard Mendik, he first founded Harry G. Silverstein & Sons, later Silverstein Properties Inc., to buy real estate in New York City, particularly in Manhattan .

He has been married to his wife Klara since 1956 and has two daughters and a son. A daughter and his son also work for Silverstein Properties .

Tenant of the old World Trade Center

After the withdrawal of another bidder, who had initially been preferred to him, Silverstein was awarded a 99-year lease on July 24, 2001 for the two twin towers of the World Trade Center in New York City. He already owned the 47-story old 7th World Trade Center .

After these three buildings were destroyed in the terrorist attacks of September 11, 2001 , he still had to pay the rent daily under the lease agreement. In order to be able to cover this, he and his Australian partner Frank Lowy tried to obtain the agreed insurance sum of 3.5 billion dollars for each of the two WTC towers, because they had been destroyed by two independent events. As a result, he received an insurance sum of $ 4.6 billion, which he used for the new construction of the complex.

A misinterpreted quote from Silverstein became one of the widespread conspiracy theories on September 11, 2001 : with the statement "maybe the smartest thing to do is pull it" in a conversation with the head of the New York Fire Department, he admitted an order to detonate it. Because the expression "pull it" means for building demolition companies the order to initiate a prepared demolition. Silverstein always rejected these allegations: he had proposed the evacuation of the unstable building in order not to risk further loss of life. The fire chief himself ordered the fire fighters to withdraw from the building. The New York Fire Department confirmed: The expression "pull it" referred to an evacuation of the unstable building, which collapsed soon afterwards. Fire chief Daniel Nigro testified to his order in writing in 2007. Firefighters involved testified that they had been pulled.

Lawsuit against airlines

Silverstein led legal disputes with several airlines because, in his opinion, they were complicit in the destruction of the skyscrapers because of lax security measures. The corresponding lawsuits were dismissed in 2012. Five years later, Silverstein reached an agreement by means of a settlement with the airlines American Airlines and United Continental Holdings . He reportedly received $ 95.2 million.

Investor in the new World Trade Center

Construction of the One World Trade Center (formerly Freedom Tower ) began in 2006 and was commissioned by Silverstein Properties . The New York Port Authority then took over the construction of this 541 meter high tower. Silverstein was involved in the Two World Trade Center , Three World Trade Center and Four World Trade Center buildings . The World Trade Center Memorial was built jointly by him and the port authorities. The new 7 World Trade Center opened in 2006.

7 World Trade Center

Silverstein invested the entire sum insured for the destroyed old WTC in the new building. Its expected total costs increased to about nine billion US dollars. In addition, individual insurance companies could not immediately pay out their share of the sum insured. As a result, the duration and the construction concept of the new building were at times called into question.

Web links

Individual evidence

  1. ↑ Keith Flamer: Billionaire NYC Developer Larry Silverstein's Offbeat Deal With Spotify & Graffiti Artists ( EN ) Forbes . June 30, 2017. Retrieved March 7, 2018.
  2. ↑ WTC timeline . Chronology according to Silverstein Properties. Retrieved September 6, 2010.
  3. ↑ Heike Buchter: Portrait: The Cloud Scratch . In: The time . August 31, 2006.
  4. ↑ David Ray Griffin: The Mysterious Collapse of World Trade Center 7: Why the Official Final Report about 9/11 Is Unscientific and False. Interlink Publishing Group, 2009, ISBN 1-56656-786-6 , p. 119
  5. ↑ 911myths: WTC7 pulled ; n-tv: WTC investor Larry Silverstein
  6. ↑ 9/11 guide: Chief of Department FDNY (ret.) Daniel Nigro Addresses Conspiracy Theories (September 23, 2007)
  7. ↑ United Airlines, the World Trade Center, and a curious lawsuit . In: Süddeutsche Zeitung . November 22, 2012.
  8. ↑ 16 years later: The tenant of the World Trade Center comes to an agreement in the 9/11 dispute. In: Frankfurter Allgemeine Zeitung GmbH. November 22, 2017. Retrieved November 22, 2017 .
  9. ↑ Joseph B. Treaster, Charles V. Bagli: Insurer's Financial Weakness May imperil Trade Center Project . In: The New York Times . February 8, 2007. (English)
personal data
SURNAME Silverstein, Larry
ALTERNATIVE NAMES Silverstein, Larry A.
BRIEF DESCRIPTION American investor and billionaire
DATE OF BIRTH May 30, 1931
PLACE OF BIRTH Brooklyn , New York City