What is Joseph Chetrit's net worth and how has his wealth grown over the past few years?

Joseph Chetrit was born in Morocco to a Jewish family and has four brothers.

The Chetrit family made their initial fortune in textiles and shipping.

Chetrit's company, Chetrit Group, specializes in acquiring underperforming or undervalued properties, renovating or redeveloping them, and then selling them for a profit.

Notable projects of Chetrit Group include the development of the Times Square Tower, the renovation of the Viceroy Hotel in Santa Monica, and the acquisition of the Hollywood Renaissance Hotel.

Chetrit's real estate ventures have significantly contributed to his net worth, however, an exact figure is not publicly available.

Chetrit's father and brother were arrested and jailed in Morocco for smuggling in the 1990s.

Chetrit started his career in the textile industry but faced legal issues and received three years probation in the 1990s for running afoul of customs law.

Chetrit Group made around 2 billion worth of trades in the first decade of the new millennium.

Chetrit Group's interests extend to residential and hospitality sectors, including the acquisition of a 5500-unit multifamily portfolio for 390 million in 2021.

Chetrit Group has been involved in high-profile deals, such as purchasing a stake in Chicago's Willis Tower.

Chetrit Group's AB & Sons recently spent 200 million buying a 50% stake in a 60-building 950-unit multifamily portfolio in Manhattan.

Chetrit Group has filed plans to build a 48-floor mixed-use tower with 421 hotel rooms and 135 residential units in the Hudson Yards neighborhood of New York City.