Real Estate Mogul Don Peebles Moving Closer to Billionaire Status

Don PeeblesWith nine big real estate ventures under his thumbs, real estate mogul Don Peebles could be on his way to becoming a billionaire.

According to Forbes, Peebles, 54, is worth $700 million, up from an estimated $350 million in 2011.?

His specialty? Neighborhood redevelopments, hotels, high-end office space, historic projects and luxury condos.

?The projects we tend to be attracted to are those that have greater impact, greater symbolism,? Peebles said recently. ?Our No. 1 focus is that our buildings are vehicles or symbols of opportunity. Our goal is to develop projects that transform communities.?

Through his company, Peebles Corporation, Peebles has acquired buildings in posh sections of both Miami Beach and Boston. Now, he is considering possible developments in the Chelsea and Times Square sections of New York City.????

Currently the vice chairman of the Board of Directors of the Congressional Black Caucus Foundation and a member of President Obama?s National Finance Committee, Peebles has been in real estate since 1983 when he opened RDP Corporation, a residential and commercial real estate appraisal firm.?

Aside from the real estate business, Peebles also has a keen interest in politics. In 2009, he was rumored to have been considering entering the race for mayor of Washington, D.C., before a family incident caused him to rethink his plans. A mentee of former Washington, D.C. Mayor Marion Barry, Peebles has been a fundraiser for mayoral candidates in both Atlanta and New York City.??????

A native of Washington, D.C., Peebles attended Rutgers University and shortly after became a real estate agent and appraiser. The rest is history.