8 Oldest Wealthy Families in New York

New York City is a melting pot of cultures and traditions, with a rich history that dates back centuries. Over the years, families have settled in the city and established roots that have lasted for generations. These families have witnessed the evolution of the city and have contributed to its growth and development.

From the Dutch settlers who arrived in the 1600s to the wealthy industrialists of the 19th and 20th centuries, these families have played a significant role in shaping New York City’s cultural, social, and economic landscape. Through their stories, we will gain insight into the rich history of New York City and how these families have left their mark on the city that never sleeps. Join us on this journey through time as we uncover the stories of the eight oldest wealthy families in New York.

8. The Trumps

photo source: People

The Trump family’s business began with Fred Trump, the patriarch of the family, who started a construction company in the 1920s. Fred Trump’s company, E. Trump & Son, built homes and apartments in Brooklyn and Queens and soon became a successful real estate developer. Fred’s son, Donald Trump, joined the family business in the 1960s and expanded the company’s operations to Manhattan, where he built luxury high-rise buildings and hotels.

Donald Trump’s business acumen and showmanship helped him become a household name, and he eventually became the president of the Trump Organization, which includes a wide range of businesses such as real estate development, hotels, casinos, and golf courses. The Trump family’s rise to wealth and prominence in New York City was not without controversy, as they have faced numerous legal and financial challenges over the years.

Did You Know?

Donald Trump is the fourth child of five siblings in his family, and his siblings include Maryanne, Robert, Elizabeth, and Fred Jr.

7. The Milsteins

photo source: Bisnow

The Milstein family’s story began with Morris Milstein, who immigrated to the United States from Russia in the early 1900s. He settled in New York City and started a small business selling fabrics and textiles. Morris’s son, Paul Milstein, joined the family business in the 1950s and expanded the company’s operations to real estate development. He formed a partnership with his brother Seymour Milstein, and together they built a successful real estate empire in New York City.

The Milstein brothers were known for their expertise in commercial real estate and for their ability to acquire and develop prime properties in the city. Some of their most notable projects include the 2.1 million square foot Emigrant Savings Bank building in Lower Manhattan and the development of Battery Park City, a mixed-use community on the Hudson River.

Did You Know?

They have also been known for their philanthropy, with Paul Milstein founding the Milstein Heart Center at New York Presbyterian Hospital and the Milstein Medical Research Program at Weill Cornell Medical College.

6. The Fishers

photo source: We Are The Mighty

The Fisher family is one of the oldest and wealthiest families in New York, with an estimated net worth of over $7 billion. The family’s wealth is derived from their real estate business, which they started in the early 20th century. The Fisher family’s patriarch, Zachary Fisher, was born in Brooklyn in 1910. He grew up in a Jewish immigrant family and started working as a stock boy in a department store at the age of 14.

He later became a successful entrepreneur, founding several companies, including Fisher Brothers, a real estate development firm, with his brothers, Martin and Larry. The Fisher brothers started their real estate business by purchasing a small office building on West 45th Street in Manhattan in 1915. Over the years, they expanded their holdings by acquiring more properties and developing new buildings.

Did You Know?

In the 1950s, they began building some of New York’s most iconic skyscrapers, including the United Nations Secretariat Building and the Solow Building.

5. The Dursts

photo source: Real Estate Weekly

The Durst family is one of the wealthiest and oldest families in New York, with an estimated net worth of over $8 billion. The family’s wealth is derived from their real estate business, which they started in the early 20th century. The patriarch of the Durst family, Joseph Durst, was born in Austria in 1882 and immigrated to the United States in 1902. He initially worked as a tailor in New York City before venturing into the real estate business.

In 1915, he founded The Durst Organization, a real estate development firm that would eventually become one of the largest and most successful in New York. The Durst family’s early real estate ventures included the construction of low-rise apartment buildings and commercial spaces in Manhattan. However, their big break came in the 1950s when they started building high-rise office buildings, including the 45-story tower at 655 Third Avenue, which was completed in 1958.

Did You Know?

Today, The Durst Organization is one of the largest real estate developers and property managers in New York City, with a portfolio that includes over 13 million square feet of commercial and residential space.

4. The Musses

photo source: Wall Street Journal

The Muss family is one of the oldest and wealthiest families in New York, with an estimated net worth of over $4 billion. The family’s wealth is derived from their real estate business, which they started in the early 20th century. The patriarch of the Muss family, Isaac Muss, was born in Russia in 1876 and immigrated to the United States in 1890. He started his career in the garment industry but soon transitioned into real estate development, starting with the construction of a six-story tenement building on the Lower East Side in 1900.

Over the years, Isaac Muss and his sons, Joseph and Abraham, expanded their real estate holdings by purchasing and developing properties in Manhattan, Brooklyn, and Staten Island. They were known for their innovative approach to real estate development, incorporating modern amenities such as elevators and indoor plumbing into their buildings.

Did You Know?

They also built some of the first cooperative apartments in New York, a model that would later become popular in the city.

3. The Rudins

photo source: Wall Street Journal

The Rudin family is one of the wealthiest and oldest families in New York, with an estimated net worth of over $5 billion. The family’s wealth is derived from their real estate business, which they started in the early 20th century. The patriarch of the Rudin family, Samuel Rudin, was born in Ukraine in 1889 and immigrated to the United States in 1905. He started his career in the garment industry but soon transitioned into real estate development, starting with the purchase of a small building in the East Village in 1925.

Over the years, Samuel Rudin and his sons, Jack and Lewis, expanded their real estate holdings by purchasing and developing properties in Manhattan. They were known for their conservative approach to real estate development, preferring to focus on acquiring and renovating existing buildings rather than constructing new ones.

Did You Know?

One of their most notable projects was the development of the office building at 345 Park Avenue in the 1960s, which became one of the most prestigious addresses in New York.

2. The LeFraks

photo source: Celebrity Family

The LeFrak family is one of the wealthiest and oldest families in New York, with an estimated net worth of over $20 billion. The family’s wealth is derived from their real estate business, which they started in the early 20th century. The patriarch of the LeFrak family, Harry LeFrak, was born in France in 1888 and immigrated to the United States in 1902. He started his career in the construction industry, specializing in building apartment buildings in Brooklyn.

The LeFrak family’s real estate portfolio grew rapidly in the post-World War II era as they acquired and developed large-scale properties such as office buildings, shopping centers, and residential complexes. One of their most notable projects was the development of the LeFrak City apartment complex in Queens, which was the largest privately financed housing development in the United States at the time of its completion in 1963.

Did You Know?

Today, the LeFrak family’s real estate empire includes over 40 million square feet of commercial and residential space in New York and other major cities in the United States.

1. The Rockefellers

photo source: The Rake

The Rockefeller family is one of the wealthiest and most influential families in the United States, with an estimated net worth of over $10 billion. The family’s wealth is derived from their business empire, which they started in the late 19th century. The patriarch of the Rockefeller family, John D. Rockefeller, was born in New York in 1839 and started his career as a bookkeeper before starting his own oil refinery in Cleveland, Ohio, in 1863.

Rockefeller’s Standard Oil Company soon became the dominant force in the American oil industry, controlling over 90% of the country’s oil refining capacity by the early 20th century. They also became known for their philanthropy, establishing the Rockefeller Foundation and supporting numerous charitable causes in the arts, education, and healthcare.

Did You Know?

Today, the Rockefeller family’s business interests include venture capital, private equity, and real estate investments, among others.