David Simon, who built the Simon Property Group into one of the world’s largest retail real estate firms, has died at 64 after battling cancer.
“Our family is deeply grateful for the tremendous outpouring of love and support we have received from across the globe,” a family spokesperson said in a statement.
“Our beloved husband, father, grandfather, and brother poured his heart and soul into building Simon Property Group.”
Simon leaves behind his wife of more than 40 years, Jackie, and their five children—Eli, Rebecca, Hannah, Sam, and Noah—as well as seven grandchildren.
The Indianapolis-based firm’s board of directors has appointed his son, Eli Simon, as CEO. Meanwhile, Eli Simon will continue to serve as chief operating officer and a member of the board.
“The Board is also confident with the forward vision, strength, depth, and capability of the executive management team that Eli will lead, and which he has garnered their unwavering respect and support,” the statement read.
Larry Glasscock has been appointed by the board to serve as non-executive chairman.
So far, Simon Property Group holds interests in more than 250 global properties comprising more than 200 million square feet, including malls, premium outlets, hotels, office buildings, and lifestyle centers.
In addition to North America, the company’s properties extend through Europe and Asia. Its portfolio includes more than 3,000 store brands and 400 retail centers in 24 countries.
David Simon joined the company’s predecessor, Melvin Simon & Associates, as chief financial officer in 1990 after spending years as a Wall Street investment banker. When he was 31, in 1993, he organized the company’s initial public offering (IPO) on the New York Stock Exchange and raised nearly $1 billion. At the time, the offering was the largest ever for a real estate company.
Two years later, Simon was named CEO, becoming one of the youngest chief executives of a major publicly traded company. He also led the company to deliver an unprecedented total shareholder return of more than 4,500 percent since the IPO, setting industry records.
Later, the company acquired several firms, including DeBartolo Realty Corporation, Corporate Property Investors, Chelsea Property Group, the Mills Corporation, and Taubman Centers. Simon also oversaw billion-dollar-plus investments to redevelop and reimagine its properties, creating premier shopping, dining, and entertainment destinations.
In addition, Simon served as chairman of the Supervisory Board of Klépierre, a publicly traded, Paris-based retail real estate company, and as a member of the board of Apollo Global Management, Inc.
The Harvard Business Review recognized him as “one of the world’s best-performing CEOs” in both 2010 and 2013. Barron’s Magazine offered the same honor in 2013.
Simon earned an MBA from Columbia University’s Graduate School of Business and a BS from the Indiana University Kelly School of Business.
In the fourth quarter of 2025, Simon Property Group generated $4.8 billion in cash from its core real estate operations and returned $3.5 billion to shareholders, the company said. It signed more than 17 million square feet of leases, opened a new premium outlet in Indonesia, completed 23 redevelopment projects, and acquired $2 billion in retail properties.
The firm’s property occupancy rate as of Dec. 31, 2025, was 96.4 percent—a slight dip from 96.5 percent in 2024.
Simon Property Group is listed as an S&P 100 company, and its global properties offer community gathering places for millions of people, while generating billions in annual sales. Additionally, the firm has invested $8 billion in destinations for the future.