A. Alfred Taubman dies at 91
Adolph Alfred Taubman, an America real estate developer and philanthropist from Michigan who pioneered as modern mall concept died at the age of 91. Billionaire mall developer who launched the mall business Taubman Centers Inc. in 1950 died of heart attack.
His son, Robert Taubman, CEO of Taubman Centers, announced the news that his father died on Friday evening in his Bloomfield Hills, Michigan home after having dinner.
Robert said, “He was so proud of what this wonderful company he founded 65 years ago has accomplished. One thing that will never be taken from us is Alfred Taubman's vision that will continue to guide and inspire us”.
Taubman’s net worth estimated by Forbes magazine was at $3.1 billion. His insights into designing and developing retail properties made him quite a popular name. CBS News described him as a ‘legend in retailing’.
Taubman Centers has its own retail locations in places like Los Angeles and New York City. Currently, there are around 3,000 stores that are operated by mall tenants under around 850 trade names. Later, he started focusing on philanthropy, establishing and funding centers at Harvard University, Brown University and University of Michigan.
Taubman’s business success spans from real estate, art houses to hot-dog serving A&W restaurant chain. He even traveled to Hungary to figure out why the nation’s sausages were so good. He also supported stem-cell research.
He is known for changing American mall culture by rearranging how people shop, to come up with parking lot in front and shops closer to home. In a 2007 interview, Taubman said that he has done everything that has interested him.
Taubman was born on January 31, 1942 in Pontiac, Michigan to German-Jewish immigrants. In his childhood days, he has worked at a department store after coming from school.