David Simon, the visionary CEO of Simon Property Group, died at the age of 64 after a brave battle with cancer. He left behind a huge legacy in retail real estate. He was called the “Mall King” because he turned his family’s business into the world’s largest mall operator. Notably, he oversaw 206 malls in 37 U.S. states. These included the famous Beverly Center and Stanford Shopping Center.
In 1990, Simon became the CFO of his family’s business, Melvin Simon & Associates. He led the company’s initial public offering (IPO) in 1993. In 1995, he became CEO at the age of 33, making him one of the youngest major public company leaders in the US. Simon Property Group (NYSE: SPG) grew to 250 properties covering 206 million square feet around the world under his aggressive leadership. Since going public, investors have made more than 4,500% on their money.
Even when e-commerce was booming, JCPenney and Forever 21 went out of business, and the COVID-19 pandemic hit, Simon made big investments by buying troubled companies like Taubman Centers, Mills Corp., and brands like Brooks Brothers. He turned malls into places where people could have fun. In fact, he proved doubters wrong by staying on top of changes in consumer behavior.
Simon was diagnosed with pancreatic cancer in 2024 and led from hospital beds until the end, on March 22, 2026. Eli Simon, his oldest son and former COO, was quickly named the new CEO. This move made sure that the Indianapolis-based giant stayed in the family.
