Sam Zell Obituary – Cause of Death: Billionaire investor, former owner of the Tribune Company Sam Zell dies at 81.
Sam Zell, a Chicago real estate tycoon who amassed a multibillion-dollar fortune and gained the moniker “the grave dancer” for his prowess in bringing life back to dormant properties, has away as a result of complications from a recent illness. He was 81.
Zell, a blunt-spoken man with a beard, delighted in defying conventional wisdom. He started off as an apartment building manager while still a college student and had a golden touch with real estate. When he was in his 70s, he had acquired a wealth that was thought to be worth $3.8 billion.
In 2007, Zell sold Blackstone Group Equity Office, the office-tower business he had spent three decades establishing.
A month later, he entered into another agreement that ultimately damaged his reputation: the $13 billion purchase of the struggling Tribune Co. The following year, the major media company declared bankruptcy.
The firm reported that Zell passed away at home.
In addition to his wife Helen, Zell is survived by his sister Julie Baskes and her husband Roger Baskes, his sister Leah Zell, his three children, Matthew Zell, JoAnn Zell, and Kellie Zell with son-in-law Scott Peppet, as well as nine grandkids.