Mohamed Hadid Net Worth: From Luxury Developments to Legal Battles
His daughters Gigi and Bella are two of the most powerful models in the world, while his son Anwar has also pursued modeling.
Mohamed Hadid is a Palestinian-American real estate developer known for luxury projects in Bel Air and Beverly Hills.
He has a rich history, including early ventures in car restoration and real estate development.
Hadid’s personal life reflects his Palestinian roots and experiences as a refugee. Recently, he faced controversy for sending racist and homophobic messages.
Despite this, his daughters, Gigi and Bella Hadid, have been active in humanitarian causes, with Gigi expressing support for Palestine.
Net worth
Hadid has an estimated net worth of $1 million which is much lower than the hundreds of millions he previously earned due to financial and legal issues.
He has faced significant setbacks in recent years.
Hadid’s ambitious mega-mansion project in Bel Air sparked legal battles and bankruptcy filings, underscoring the complexities of development in exclusive neighborhoods.
Despite these challenges, his development company continues to spearhead luxury projects worldwide, from opulent resorts to extravagant residences.
Financial issues
Hadid’s financial troubles began with the construction of a 30,000-square-foot Bel-Air mansion, nicknamed the Starship Enterprise, which he envisioned selling for $100 million.
However, he failed to comply with legal construction guidelines, leading to a series of legal battles and financial losses.
Hadid was sentenced in 2017 for violating building codes and was ordered to pay fines and perform community service.
The property was eventually demolished in 2019 due to safety concerns, with Hadid selling it for $5 million, a significant loss compared to his initial goal.
In addition to the Bel-Air property, Hadid’s other business ventures have also faced financial difficulties.
His two companies, Coldwater Development LLC and Lydda Lud LLC, filed for bankruptcy protection in 2019 and he has lost tens of millions of dollars in construction loans.
Hadid has also been ordered to pay $2.6 million in legal fees to his neighbors who sued him over the Bel-Air property.
Career
Hadid’s career has been marked by significant achievements in the real estate development industry.
He started by restoring and reselling classic cars in Washington, D.C., before moving to Greece where he opened a nightclub and used the profits to develop real estate in the United States.
Hadid’s early ventures included a company that exported equipment to the Middle East and a partnership with the SAAR Foundation, which provided financial backing for many of his projects.
He developed several luxury hotels, including the Ritz-Carlton in Washington and New York, and a resort in Scottsdale, Arizona.
In the 1990s, Hadid faced financial difficulties and was involved in several lawsuits, which led to him losing his home to foreclosure and closing his local office.
Despite these challenges, he continued to develop high-profile projects, including a $50 million mansion in Bel Air, Los Angeles and a $58 million home in Beverly Hills.
Hadid’s architectural designs are known for their luxury, modernism, and sustainability, and he has worked with numerous A-list celebrities, designing and building luxurious homes for stars such as Ellen DeGeneres and Jennifer Lopez.
Throughout his career, Hadid has been recognized for his innovative and distinctive architectural style, which has left a lasting impact on the real estate industry.
Notable projects
Hadid has been involved in several notable projects throughout his career.
One of his most notable projects is Le Belvedere, a mansion in Bel Air, Los Angeles, developed by Hadid and sold for $50 million in 2010.
This project showcased his ability to create luxurious and distinctive properties in prestigious locations.
Another notable project is The Crescent Palace, a 48,000-square-foot home located next to the Beverly Hills Hotel, listed for sale at $58 million in 2012.
This project further demonstrated Hadid’s skill in designing and developing high-end properties that attract significant attention and interest.
Hadid has also been involved in the Casablanca Project, a potential mega project for the city of Casablanca.
Although details about the project are limited, it highlights Hadid’s ongoing commitment to innovative and large-scale developments.
Throughout his career, Hadid has consistently demonstrated his ability to create unique and luxurious properties that leave a lasting impact on the real estate industry.
Personal life
Hadid has been married twice and has five children.
His first marriage was to Mary Butler, with whom he had two daughters, Alana Hadid and Marielle Hadid. Alana was born on July 27, 1985, and Marielle was born on September 7, 1980.
Hadid’s second marriage was to Dutch model Yolanda Van den Herik, now known as Yolanda Hadid, from 1994 to 2000.
They had three children together, all of whom became models, Gigi Hadid, Bella Hadid, and Anwar Hadid. Gigi was born on April 23, 1995, Bella on October 9, 1996, and Anwar on June 22, 1999.
In 2014, Hadid became engaged to Shiva Safai, a model and businesswoman 33 years his junior. They appeared together on the E reality show Second Wives Club in 2017, but split by December 2019.
Hadid’s children have all achieved significant success in their respective careers.
His daughters Gigi and Bella are two of the most powerful models in the world, while his son Anwar has also pursued modeling.
Hadid’s older daughters, Alana and Marielle, have also found success in business and fashion.
