Mike Meldman Net Worth
If you’re not familiar with Mike Meldman, then you might be surprised to learn that the American real estate developer has an estimated net worth of $500 million. After starting as a commercial broker, Meldman built up a property empire. He’s now the chairman and CEO of Discovery Land Company, one of the largest developers of luxury resort communities in the world.
In addition to his work with Discovery, Meldman is also the co-founder of the tequila brand Casamigos. He and his partners sold the tequila to spirits giant Diageo for $700 million in June 2017. His net worth is estimated to increase by about $300 million, depending on the performance of the company over the next 10 years.
As a young man, Meldman grew up in Milwaukee, Wisconsin, but moved to the Phoenix area when he was 12. He went to school at Stanford and received a degree in history. He worked for Bishop Hawk, a real estate startup, as well as dealing cards in Lake Tahoe. He eventually became a member of the Theta Delta Chi fraternity.
In the late 1980s, Meldman started developing properties. He began with a project in Pinnacle Peak, Scottsdale, Arizona. He then started building a huge resort in Los Cabos, Mexico, which he and his partner spent 18 years developing. After that, he set up a third resort in Whitefish, Montana. He has built more than 25 properties. Some of them have homes priced from $2 million to $50 million.
Before the 2007 pandemic, Meldman’s properties attracted A-list residents and guests, including George Clooney, Ben Affleck, and Kate Winslet. He has since developed more than 23 luxury communities in several states, as well as in the Bahamas. The company has been expanding rapidly and has already bought more than $2 billion in the land. In the last year, its sales increased from $1 billion to more than $2 billion.
Despite his success as a developer, Meldman is still working on his next real estate venture. He’s building a multi-level farmhouse, complete with an organic garden, an infinity edge pool, and a theater. He’s also remodeling a former Makena Hotel in California into a condo. It will be 3,796 square feet and feature views of Lake Coeur d’Alene. He plans to build another home, and he’s also buying more land.
In the meantime, he’s continuing to break ground on new real estate projects. He has a home in Hawaii, a house in San Francisco, and a mansion in Beverly Hills. He spends four months of the year at his 1920s mansion in Los Angeles. He’s planning to build a home in the Los Cabos area, and he’s in the early stages of a new property in Idaho.
He and his girlfriend, model Monica Gambee, have been together for about four years. They have a son, Maxwell, who is nine. They’ve been calling their house the “Mickey Mouse Clubhouse,” because they watch the cartoon series together every morning at 6 a.m.
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