The man who built America’s biggest mall empire is gone. David Simon, the long-time CEO of Simon Property Group, passed away on Sunday, March 22, 2026, surrounded by his family after a brave battle with cancer. He was just 64 years old.
The Indianapolis-based company announced his death on Monday morning, calling him “the singular leader who built Simon Property Group into the largest and most admired retail real estate company in the world.”
A Family Business Taken to New Heights
David Simon was the son of company co-founder Melvin Simon and nephew of co-founder Herb Simon. He didn’t just inherit a business. He transformed it into a global powerhouse.
He joined the company as Chief Financial Officer in 1990, bringing with him the sharp financial skills of a Wall Street investment banker, having previously worked at First Boston Corporation and Wasserstein Perella.
Then came his big bet. In 1993, at just 31 years old, he led the company’s initial public offering on the New York Stock Exchange, raising nearly $1 billion in what was then the largest real estate public stock offering in history.
Youngest CEO of a Major U.S. Company
Named CEO in 1995 at the age of 33, David Simon became one of the youngest CEOs of a major publicly traded company in America.
Over the next three decades, he turned Simon Property Group into the biggest retail real estate company in the world. At the time of his passing, Simon Property Group owned or held interests in more than 250 properties comprising over 200 million square feet across North America, Europe, and Asia.
He Bet on Malls When Everyone Else Gave Up
At a time when e-commerce had everyone writing obituaries for shopping malls, David Simon refused to give up on physical retail. He kept investing, kept expanding, and kept proving the doubters wrong.
That strategy paid off massively. Under his leadership, Simon Property Group delivered a cumulative total shareholder return of more than 4,500% since its IPO. That is not a typo.
The Harvard Business Review recognized him as one of the world’s best-performing CEOs in both 2010 and 2013, and Barron’s Magazine gave him the same honor in 2013.
His Son Steps In
Leadership has already been sorted. The Simon Property Group board appointed Eli Simon, David’s son, as the new CEO and President, effective immediately. Eli will also continue in his roles as chief operating officer and director.
Larry Glasscock, who previously served as lead independent director, has been appointed as Non-Executive Chairman of the Board.
Glasscock paid tribute to the man he served alongside for years. “David Simon was, quite simply, the finest leader in the history of the retail real estate industry,” he said.
Family First
Despite all his professional success, his family said he cared most about the people around him. He is survived by his wife Jackie, whom he was married to for over 40 years, their five children, Eli, Rebecca, Hannah, Sam and Noah, and seven grandchildren.
“Our beloved husband, father, grandfather and brother poured his heart and soul into building Simon Property Group,” the family said in a statement, asking for privacy as they mourn their loss.
In lieu of flowers, the family has requested contributions be made to the UJA Federation of New York and the Foundation to Combat Antisemitism. Details on memorial services will be shared later.
A Legacy That Cannot Be Replaced
David Simon built something rare: a company that thrived for decades under his watch, survived the retail apocalypse, and is now in the hands of his own son. That is a legacy most business leaders can only dream of.
