David Walentas: From Farmhand to Billionaire Developer
David Walentas, a native of Rochester, NY, is a self-made billionaire with a net worth of $2.4 billion. He is best known for transforming the Brooklyn neighborhood of Dumbo into a trendy and desirable area.
Walentas’ success story began with humble beginnings. As a young man, he worked on a farm, shoveling manure and milking cows. However, he had bigger aspirations and went on to graduate from the University of Virginia and the Darden Business School.
In the late 1970s, Walentas purchased two million square feet of old industrial buildings for $12 million. He now owns over 15 properties in New York and has become a prime developer in the city through his company, Two Trees Management.
Two Trees Management made headlines in 2012 when they purchased 11 acres of prime waterfront property in Brooklyn, also known as the Domino Sugar Refinery development project, for $185.5 million. Walentas’ son, Jed, took over the company in 2011.
Despite his immense wealth, Walentas has remained grounded and committed to giving back. In October 2019, he pledged $100 million to his alma mater, the University of Virginia.
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