October 6, 2023 | SC News Biz
Forbes has released its annual 400 Richest People in America list, and South Carolina can boast a member.
Bob Faith, founder, chairman and CEO of Charleston-based Greystar, a property and investment management and development services company, ranks No. 182 on the list with an estimated worth of $5.8 billion. That ranks Faith, who also made Forbes’ top 400 list in 2002, No. 465 in the world, according to Forbes.
According to Forbes, Greystar manages and operates more than $240 billion in real estate across five continents.
For three decades, Faith, who founded Greystar in 1993, has maintained oversight over all aspects of Greystar, including organizational structure, strategic planning, and company growth, its website states. Faith received his bachelor’s degree in Petroleum Engineering from the University of Oklahoma and an MBA from Harvard Business School, and served as the South Carolina secretary of commerce from 2002-06.
The group of 400 is worth $4.5 trillion in aggregate, tying a record set in 2021, Forbes writes. This year it took $2.9 billion to make the cut.
Not surprisingly, Elon Musk tops the list, worth an estimated $251 billion, according to Forbes.
This is the 42nd version of the list, which you can view here. You can read about its methodology here.
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