Ted Lerner
Encyclopedia
Theodore N. "Ted" Lerner (born October 15, 1925 in Washington, DC) is an American
real estate
developer and managing principal owner of the Washington Nationals
baseball team. His family business, Lerner Enterprises, is the largest private landowner in the Washington, D.C. region. He has an estimated worth of US$
3.5 billion as of 2011, though due to the family's secrecy that number cannot be confirmed.
. He then went on to attend The George Washington University, where he received first an Associate of Arts and later an LLB from The George Washington University Law School
. Lerner and his wife, Annette M. Lerner, married on June 17, 1951.
His daughter, Marla Lerner Tanenbaum, is president of The Annette M. and Theodore N. Lerner Family Foundation and chair of the Washington Nationals Dream Foundation. The family are the sole owners and heirs of both Lerner Enterprises and of the Washington Nationals.
, United States, and operates primarily throughout the Washington, D.C. metropolis. The company was started from a $212 loan from his wife. Lerner Enterprises is the largest private landowner in the Washington, D.C. region.
Among the Lerner Enterprises ventures is a partnership in Chelsea Piers
, a 30 acres (121,405.8 m²) sports and entertainment complex on the Hudson River
in New York City
; the Tysons II commercial development; shopping centers including White Flint
and Dulles Town Center
; and thousands of homes and apartments, along with numerous office buildings. Lerner also played a role in developing other shopping centers in the Washington area, including Tysons Corner Center
and Wheaton Plaza.
Their headquarters is LEED Platinum Certified and has been the recipient of multiple design and environmental awards.
franchise was formerly owned and operated by Major League Baseball
from February 15, 2002
until the official transfer of ownership on July 24, 2006
. The Lerner Family is the majority owner of the franchise, controlling over 90% of the shares.
WNBA, Washington Mystics
, NBA Washington Wizards
and Verizon Center
.
The lunch room in the Melvin J. Berman Hebrew Academy was donated the Lerner Family. The family has also donated the Lerner Family Health and Wellness Center and Theodore Lerner Hall at George Washington University in Washington, D.C. Along with the Lerner Center at Hebrew University in Israel. The family donated the theater at Imagination Stage in Bethesda, MD.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
developer and managing principal owner of the Washington Nationals
Washington Nationals
The Washington Nationals are a professional baseball team based in Washington, D.C. The Nationals are a member of the Eastern Division of the National League of Major League Baseball . The team moved into the newly built Nationals Park in 2008, after playing their first three seasons in RFK Stadium...
baseball team. His family business, Lerner Enterprises, is the largest private landowner in the Washington, D.C. region. He has an estimated worth of US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
3.5 billion as of 2011, though due to the family's secrecy that number cannot be confirmed.
Background
After graduating high school in 1943, Lerner served with the U.S. Army through the end of World War IIWorld War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
. He then went on to attend The George Washington University, where he received first an Associate of Arts and later an LLB from The George Washington University Law School
The George Washington University Law School
The George Washington University Law School, commonly referred to as GW Law, is the law school of The George Washington University. It was founded in 1825 and is the oldest law school in Washington, D.C. The school is accredited by the American Bar Association and is a charter member of the...
. Lerner and his wife, Annette M. Lerner, married on June 17, 1951.
Personal Life
Theodore N. and Annette M. Lerner have three children: Mark D. Lerner, Debra Lerner Cohen and Marla Lerner Tanenbaum, they married Judy Lenkin Lerner, Edward L. Cohen, and Robert K. Tanenbaum respectively. Ted Lerner has nine grandchildren.His daughter, Marla Lerner Tanenbaum, is president of The Annette M. and Theodore N. Lerner Family Foundation and chair of the Washington Nationals Dream Foundation. The family are the sole owners and heirs of both Lerner Enterprises and of the Washington Nationals.
Lerner Enterprises
Lerner Enterprises is a real estate business founded in 1952 by Ted Lerner in Rockville, MarylandRockville, Maryland
Rockville is the county seat of Montgomery County, Maryland, United States. It is a major incorporated city in the central part of Montgomery County and forms part of the Baltimore-Washington Metropolitan Area. The 2010 U.S...
, United States, and operates primarily throughout the Washington, D.C. metropolis. The company was started from a $212 loan from his wife. Lerner Enterprises is the largest private landowner in the Washington, D.C. region.
Among the Lerner Enterprises ventures is a partnership in Chelsea Piers
Chelsea Piers
Chelsea Piers is a series of piers on the West Side of Manhattan in New York City that was a passenger ship terminal in the early 1900s that was used by the RMS Lusitania and was the destination of the RMS Titanic....
, a 30 acres (121,405.8 m²) sports and entertainment complex on the Hudson River
Hudson River
The Hudson is a river that flows from north to south through eastern New York. The highest official source is at Lake Tear of the Clouds, on the slopes of Mount Marcy in the Adirondack Mountains. The river itself officially begins in Henderson Lake in Newcomb, New York...
in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
; the Tysons II commercial development; shopping centers including White Flint
White Flint Mall
White Flint Mall is an upscale shopping mall along Rockville Pike in Montgomery County, Maryland. It is known for its numerous restaurants, including P.F. Chang's China Bistro, The Cheesecake Factory, Dave & Buster's, and Bertucci's.-History:...
and Dulles Town Center
Dulles Town Center
Dulles Town Center is a two-level enclosed shopping mall in Loudoun County, Virginia. The retail center gives its name to the census-designated place within which it is located. It encompasses of GLA and is the largest enclosed shopping center in Loudoun County. The mall caters to the burgeoning...
; and thousands of homes and apartments, along with numerous office buildings. Lerner also played a role in developing other shopping centers in the Washington area, including Tysons Corner Center
Tysons Corner Center
Tysons Corner Center, located in the Tysons Corner unincorporated area in Fairfax County, Virginia, United States , opened to the public in 1968, becoming one of the first fully enclosed, climate-controlled shopping centers in the Washington Metropolitan Area...
and Wheaton Plaza.
Their headquarters is LEED Platinum Certified and has been the recipient of multiple design and environmental awards.
Washington Nationals
The Washington NationalsWashington Nationals
The Washington Nationals are a professional baseball team based in Washington, D.C. The Nationals are a member of the Eastern Division of the National League of Major League Baseball . The team moved into the newly built Nationals Park in 2008, after playing their first three seasons in RFK Stadium...
franchise was formerly owned and operated by Major League Baseball
Major League Baseball
Major League Baseball is the highest level of professional baseball in the United States and Canada, consisting of teams that play in the National League and the American League...
from February 15, 2002
2002 in baseball
-Major League Baseball:*Regular Season Champions*World Series Champion - Anaheim Angels*Postseason - October 1 to October 27Click on any series score to link to that series' page....
until the official transfer of ownership on July 24, 2006
2006 in baseball
-Headline Event of the Year:*The 2006 World Baseball Classic final 4 teams are Japan, Cuba, Korea and the Dominican Republic, with the United States at 3–3 failing to qualify for the semi-finals. Under the leadership of manager Sadaharu Oh and veterans Ichiro Suzuki and Daisuke Matsuzaka, Japan ...
. The Lerner Family is the majority owner of the franchise, controlling over 90% of the shares.
Monumental Sports & Entertainment
The Lerner Family is also a partner in Monumental Sports & Entertainment, which owns the NHL Washington CapitalsWashington Capitals
The Washington Capitals are a professional ice hockey team based in Washington, D.C. They are members of the Southeast Division of the Eastern Conference of the National Hockey League . Since their founding in 1974, "The Caps" have won one conference championship to reach the 1998 Stanley Cup...
WNBA, Washington Mystics
Washington Mystics
The Washington Mystics is a professional basketball team based in Washington, D.C., playing in the Eastern Conference in the Women's National Basketball Association . The team was founded prior to the 1998 season. The team is owned by Monumental Sports & Entertainment , who also owns the Mystics'...
, NBA Washington Wizards
Washington Wizards
The Washington Wizards are a professional basketball team based in Washington, D.C., previously known as Washington Bullets. They play in the National Basketball Association .-Early years:...
and Verizon Center
Verizon Center
Verizon Center is a sports and entertainment arena in Washington, D.C., USA, named after telecommunications sponsor Verizon Communications, and has been nicknamed the "Phone Booth" because of its association with telecommunications companies...
.
Charitable Giving
The campus of the Charles E. Smith Jewish Day School in Rockville, MD is named in his and wife's honor after a multi-million dollar donation to the school.The lunch room in the Melvin J. Berman Hebrew Academy was donated the Lerner Family. The family has also donated the Lerner Family Health and Wellness Center and Theodore Lerner Hall at George Washington University in Washington, D.C. Along with the Lerner Center at Hebrew University in Israel. The family donated the theater at Imagination Stage in Bethesda, MD.
Notable achievements
- 1990 American Academy of Achievement's Golden Plate Award of Excellence
- Elected to the Washington Business Hall of Fame by Junior AchievementJunior AchievementJunior Achievement or JA or JA Worldwide is a non-profit youth organization that was founded in 1919 by Horace A. Moses, Theodore Vail, and senator Winthrop M. Crane. JA focuses on educating kids in K-12 about the free enterprise system...
of the National Capital Area in 2003 - Elected to the Jewish Community Center of Greater Washington Sports Hall of Fame in 2007.