|Former Chairman and CEO, Shorenstein Company|
About Walter Shorenstein
Walter Shorenstein is a 93 year-old American millionaire who has featured in the Forbes 400 list.
Walter Shorenstein’s Military Background and Early Success.
Shorenstein dropped out of the University of Pennsylvania and joined the US Army. He was a US Army Major when he was discharged from the military during World War II. It was in 1946 that his entrepreneurial career began. He joined the real estate business with a brokerage firm called Milton Meyer & Company in San Francisco. By 1951, he became a partner in the firm.
Shorenstein achieved success quickly and was named a "Leader of Tomorrow" by Time magazine in 1953. In 1960, Walter Shorenstein became the sole owner and the President of Milton Meyer & Company. He subsequently renamed it as the Shorenstein Company.
Once, the company was under his complete control, it underwent an era of dramatic expansion. San Francisco’s real estate industry became synonymous with the Shorenstein Company.
Walter Shorenstein’s Family
Walter Shorenstein and his wife Phyllis had three children before she passed away. Their three children, Joan, Carole and Douglas, each made a mark for themselves in different fields. Joan Shorenstein worked at the Washington Post as a journalist when she tragically died of cancer at the age of 38. As a tribute to her, Mr. and Mrs. Shorenstein donated $10 million to Harvard University to establish the Joan Shorenstein Center. Carole Shorenstein is a prominent American theatrical producer who has produced many award-winning plays on Broadway. Douglas Shorenstein became a part of Shorenstein Company in 1983 after graduating from the University of California. In 1995, he became the Chairman and CEO
Walter Shorenstein’s Achievements outside the Real Estate Arena
Shorenstein’s interests also lie in the betterment of the community and nation. He is an active supporter of the Democratic Party in USA. His contribution to the party has been immense and as a result, in 1997, he received the Democratic National Committee's Lifetime Achievement Award. He also acts as a guest lecturer on real estate to graduate programs at Stanford University, University of California at Berkeley, Wharton School of Business, Brigham Young University, and other institutions.
Walter Shorenstein as He Stands Today.
Although he has engaged himself in numerous political and philanthropic activities, Shorenstein’s name will always be synonymous with real estate business. As of 2001, the firm controlled around 25% of San Francisco's commercial real estate. Under the leadership of his son, Doug Shorenstein, the firm has grown enormously not just in size but reputation. Although it continues to be headed by Doug Shorenstein, Walter Shorenstein’s experience serves as an important guiding factor for the firm till today. A firm which was established in times of war has lived on till today. Hence, Walter Shorenstein is known as a real estate mogul.