What we know about Simon Property Group
Indianapolis-based Simon Property Group is the largest shopping mall operator in the United States. We will explain its origins and the future of this company.
Dwight Adams, Indianapolis Star
David Simon, the leader of Simon Property Group, the world’s largest retail real estate company, died on March 22nd at the age of 64.
Simon was diagnosed with cancer and died in 2024. While battling illness, he remained at the helm of the company founded by his father and uncle.
On Monday, The Simon Property Group’s board of directors appointed David’s eldest son, Eli Simon, as chief executive officer and president of the Indianapolis-based company, continuing the family’s strong leadership of the company. Eli Simon will continue in his previous role as Chief Operating Officer (COO).
In a statement, the Simon family said David “put his heart and soul into creating Simon Property Group.” David began his career as a Wall Street investment banker before joining our predecessor company, Melvin Simon & Associates, in 1990 as Chief Financial Officer.
Simon remained with Simon Property Group and was appointed CEO at the age of 33, making him one of the youngest CEOs in the country. During his 30 years as chief executive officer, Mr. Simon transformed the company from a regional real estate business into the world’s largest mall ownership group and the world’s largest publicly traded retail real estate company. During that time, Simon has solidified his position as a formidable leader in the real estate world.
“Our family is deeply grateful for the outpouring of love and support from around the world,” the Simon family said in a statement. “He was most proud of his family, his wife of more than 40 years, Jackie, and their five children (Eli, Rebecca, Hannah, Sam, Noah, and seven grandchildren). We ask that you respect our privacy as we grieve this great loss.”
Funeral arrangements will be shared by the Simon family at a later date. In lieu of flowers, the family requests that donations be made to the Anti-Defamation League, American Jewish Committee, UJA Federation of New York, or the Foundation to Combat Anti-Semitism.
David Simon served as Simon’s CEO for 31 years.
The son of business mogul Herb Simon, David was born in Indianapolis and graduated from Indiana University with a degree in business administration, then earned an MBA from Columbia University.
In 1990, Simon joined his family’s real estate firm as a young and ambitious financial professional after a tough experience on Wall Street. In 1993, Simon managed the company’s initial public offering on the New York Stock Exchange, making the business available to investors for the first time. He raised nearly $1 billion in what was at the time the largest public real estate offering in history.
Shortly thereafter, in 1995, at the age of 33, Simon took over the role of chief executive officer. By the time of his death more than 30 years later, Simon had become known as the King of Shopping Malls, the man who controlled most retail centers around the world.
Industry insiders both praised and feared the shopping mall king’s tactics.
What’s next for Simon Property Group?
As Eli Simon assumes his late father’s CEO role, the Simon Property Group Board of Directors
This story may be updated.
Alysa Guffey covers business and development stories for IndyStar. Please contact alysa.guffey@indystar.com.
