David Simon, the former leader of America’s largest shopping mall company, passed away on Sunday after battling pancreatic cancer, as announced by his family’s real estate firm on Monday. He was 64 years old.
For over three decades, he held the position of CEO at Simon Property Group, managing 250 properties, primarily known for their top-tier malls scattered across the nation.
Often referred to as the “King of Shopping Malls,” Simon was known for his assertive acquisition strategies, helping Simon Property Group own more retail spaces than any other firm in the sector. Notable properties included Roosevelt Field on Long Island, one of the nation’s most prosperous malls, and the Woodbury Common Premium Outlets located in the Hudson Valley.
Eli Simon, his eldest son, has stepped in as CEO and president of the company starting Monday.
David Simon had adjusted his work commitments after his diagnosis in 2024.
“I was more of a domineering type of CEO,” he shared in an interview with the Wall Street Journal last year. “Obviously, that’s not possible for me right now. I still do it from time to time.”
Among his notable achievements was initiating a hostile takeover of competitor Taubman Corp. while its chairman was incarcerated, according to reports.
Family members highlighted that David took great pride in his long-lasting marriage to his wife, Jackie, their five children—Eli, Rebecca, Hannah, Sam, and Noah—and their seven grandchildren.
Originating from Indiana, David moved to New York City to attend Columbia University, where he earned an MBA and began his career in mergers and acquisitions on Wall Street.
He later returned to Indiana to revitalize his family’s troubled business, Melvin Simon & Associates, ultimately leading the company to go public in 1993, achieving the largest IPO in real estate history and raising nearly $1 billion.
David became CEO at 33 and directed significant acquisitions over his tenure, amounting to more than $40 billion, including notable firms like Mills Corporation and Chelsea Property Group.
Profoundly embedded in the competitive real estate industry, Simon gained a reputation as a high-profile deal-maker. In the early 2000s, when Coach attempted to back out of a store deal at one of Simon’s malls, David reportedly expressed his frustration candidly, with an executive noting, “You could have a loud meeting, but if you could come to a resolution and shake hands, that was great.”
Simon viewed his passionate expressions of anger as “partly showmanship to make a point.”
