Misplaced Pages

Hamid Moghadam

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
Iranian-American business executive and philanthropist
Hamid R. Moghadam
Born (1956-08-26) August 26, 1956 (age 68)
Tehran, Imperial State of Iran
CitizenshipAmerican
Alma materMassachusetts Institute of Technology (SB; SM)
Stanford University (MBA)
Occupation(s)Chairman and CEO of Prologis
Years active1980s–present
Board member ofStanford Management Company
Stanford Graduate School of Business
WebsiteMoghadam - Prologis

Hamid Moghadam (born August 26, 1956) is an Iranian-American business executive and philanthropist. In 2011, Moghadam orchestrated the combination between AMB, a firm he co-founded in 1983, and ProLogis to create Prologis, the largest logistics real estate company in the world. Moghadam currently serves as Prologis Chairman and CEO, with Prologis operating as a global logistics real estate investment trust (REIT) and S&P 100 company.

Early life and education

Born on August 26, 1956, in Iran, he grew up in Tehran, where his father was a businessman. In 1969 he attended Aiglon College in Switzerland. In 1973, he entered the Massachusetts Institute of Technology, where he received Bachelor and Master of Science degrees in engineering. In 1980 Moghadam received an MBA from the Stanford Graduate School of Business in California.

Career

Abbey, Moghadam & Company

After business school, Moghadam started his career at Homestake Mining Company. He later joined John McMahan Associates. In 1983, he and Douglas Abbey founded Abbey, Moghadam & Company in San Francisco, California. Although they planned to provide investment advisory services, according to Forbes, they soon became known for instead "helping investors revive underperforming assets." They were joined by T. Robert Burke in 1984 and established AMB Institutional Realty Advisors, later named AMB Property Corp., with initial investments in office, industrial and community shopping centers.

Going public with AMB

In the late 1980s, AMB changed its investment strategy to focus on industrial parks and shopping centers in infill trade areas, with the company beginning to exit the office market in 1987. During the collapse of the office building market in the late 1980s, this shift in assets helped the company avoid significant financial repercussions. AMB launched its first private equity fund in 1989, which focused on industrial and retail properties. AMB consolidated several of its investment funds in 1997 and went public as an REIT. In late 1997, AMB closed its IPO with more than US $2.8 billion in assets.

Throughout 1999, Moghadam "made a series of moves that pared the company of most of its retail holdings, following the notion that e-commerce would become the high-margin road of the future." Selling its retail business around 1999 to focus solely on the industrial sector, starting that year AMB sold nearly $1 billion in retail assets to institutional investors and reallocated funds into warehouses in and around major consumption areas. By the end of 1999, AMB was the second-largest industrially focused REIT in the United States, with a total market capitalization of $3.5 billion. President and CEO of AMB Property Corporation, he became AMB chairman in 2000. AMB made its first overseas investment in 2002, developing a facility for Procter & Gamble in Mexico City. In 2002, AMB initiated an international expansion program focused on buying and developing distribution facilities near global trade hubs, particularly in growth markets such as Latin America, Asia, and Europe. AMB added an internal development division in 2004.

Prologis

In 2011 Moghadam arranged the combination between AMB and ProLogis to create Prologis, the largest logistics real estate company in the world. With a market cap of approximately $24 billion and corporate headquarters remaining in California, the new Prologis had around $46 billion in assets under management (AUM) and clients such as DHL, Home Depot Inc., Unilever, and FedEx. ProLogis CEO Walter Rakowich and Moghadam were appointed as the new company's co-CEOs, with Moghadam becoming the sole CEO at the start of 2013. He oversaw IPOs in Japan in 2013 and Mexico in 2014.

Prologis continues to operate as a publicly traded real estate investment trust (REIT) on the S&P 100, operating logistics and distribution facilities for customers in various industries in the Americas, Europe, and Asia. In 2018 he oversaw its acquisition of DCT Industrial Trust for $8.4 billion, and in 2020, acquisitions of Liberty Property Trust for $13 billion and Industrial Property Trust for $4 billion, then Duke Realty in 2022 for $23 billion. The company's platform totals 1.2 billion square feet that is owned, managed or under development in 19 countries, with about $196 billion in assets under management. Moghadam frequently appears on major television networks to talk about the real estate industry, including CNBC, Bloomberg TV, and Fox Business Network, as a real estate industry expert.

In 2023, Moghadam's total compensation from Prologis was $50.9 million, representing a CEO-to-median worker pay ratio of 400-to-1 for that year.

Industry boards and committees

In the 1990s, he joined the MIT Center for Real Estate's advisory committee, and became a founding member of The Real Estate Roundtable as vice chairman of the National Realty Committee. He is a member of the national Business Roundtable, and served as a trustee of the Urban Land Institute, joining the executive committee of its board of directors. He was also the chairman of National Association of Real Estate Investment Trusts (NAREIT) in 2004.

Philanthropy

Moghadam has served on various philanthropic and community boards in the San Francisco Bay Area. He served on the boards of Town School for Boys, the California Academy of Sciences, and the Bay Area Discovery Museum, and he was chairman of the Young Presidents Organization's Northern California chapter.

Previously a trustee of Stanford University, Moghadam is currently a board member of the Stanford Management Company, and was its former chairman. He and his wife established the Moghadam Family Professorship in the Stanford Graduate School of Business, where he serves on the advisory council, after endowing the Stanford Hamid and Christina Moghadam Program in Iranian Studies in 2006, which focuses on undergraduate courses related to Iran.

Awards and recognition

Moghadam was named EY's 1998 Real Estate Award Winner for the Northern California Region. In 2005, Moghadam was presented with an Industry Leadership Award from the National Association of Real Estate Investment Trusts (NAREIT). He received a Lifetime of Building Award from the Commercial Real Estate Development Association (NAIOP) in 2007, and also that year he received the Wisconsin Alumni Center's Vision Setter Award. Moghadam received the EY National Entrepreneur of the Year Overall Award in 2013, as well as the Ellis Island Medal of Honor from the National Ethnic Coalition of Organizations Foundations, Inc. (NECO). Harvard Business Review named him one of the 100 Best-Performing CEOs in the World three times, and a number of industry publications have named him their CEO of the Year.

Personal life

Moghadam and his wife Christina have a son together. In American politics, as of 2016, Moghadam had endorsed both Republicans and Democrats.

In July 2022, Moghdam was robbed at gunpoint outside his home in San Francisco.

References

  1. ^ Robson, Douglas (November 7, 1999). "Man of vision". San Francisco Business Times. Archived from the original on 11 August 2014. Retrieved 7 August 2014.
  2. ^ Kacsmar, Mike (May 28, 2014). "Flexibility, Transparency And Values Drive Entrepreneur's Success". Forbes. Archived from the original on 14 July 2014. Retrieved 6 June 2014.
  3. ^ "Hamid R. Moghadam". Bloomberg. Archived from the original on April 16, 2018. Retrieved April 28, 2017.
  4. ^ "ProLogis and AMB Property to Merge". New York Times. January 31, 2011. Archived from the original on 15 July 2014. Retrieved 7 August 2014.
  5. ^ Troianovski, Anton (January 31, 2011). "Warehouse Giants AMB Property, ProLogis to Merge". The Wall Street Journal. Archived from the original on 27 February 2015. Retrieved 6 June 2014.
  6. "Prologis, Inc - Why Invest - Why Invest".
  7. ^ Chambers, Sam (October 17, 2024). "Property titan who beat US deportation to build a $218bn empire". The Sunday Times. Archived from the original on October 20, 2024.
  8. ^ Moghadam, Hamid (June 21, 2008). "The Boss: Keep the Rejection Letters". New York Times. Archived from the original on 11 August 2014. Retrieved 7 August 2014.
  9. ^ Feintzeig, Rachel (January 1, 2014). "Prologis CEO: A Life Changed By a Revolution". Wall Street Journal. Archived from the original on 10 August 2014. Retrieved 7 August 2014.
  10. "Donor Profile: Hamid Moghadam". MIT School of Architecture + Planning. Retrieved 7 August 2014.
  11. ^ "Investing in Faculty: the Moghadam Family Professorship". Stanford Graduate School of Business. Archived from the original on 25 January 2015. Retrieved 7 August 2014.
  12. 30th Anniversary Site, Prologis, 2019
  13. ^ Robaton, Anna (May 2012). "Prologis Together". REIT.com. Archived from the original on 14 July 2014. Retrieved 6 June 2014.
  14. ^ "Company History". Prologis. Archived from the original on 13 August 2014. Retrieved 7 August 2014.
  15. "Prologis, Inc". NYSE.com. Archived from the original on 24 January 2008. Retrieved 7 August 2014.
  16. "1999 ? The Webvan Wager". Prologis. Archived from the original on 18 October 2014. Retrieved 7 August 2014.
  17. Starkman, Dean. "AMB to Buy Airport Space From Aviation Facilities". Wall Street Journal. Archived from the original on 11 August 2014. Retrieved 7 August 2014.
  18. ^ "Plum Creek Announces New Board Appointments". Plum Creek Timber Company, Inc. July 19, 1999. Archived from the original on 5 February 2017. Retrieved 7 August 2014.
  19. "Company History". 3 February 2021.
  20. "Prologis Corporate Profile" (PDF). Prologis. Archived from the original (PDF) on 4 March 2016. Retrieved 7 August 2014.
  21. "About Us". Prologis. Archived from the original on 9 August 2014. Retrieved 7 August 2014.
  22. ^ "Senior Officers: Hamid R. Moghadam". Prologis. Archived from the original on January 12, 2017. Retrieved April 16, 2017.
  23. "Executive Committee". Prologis. Archived from the original on 8 August 2014. Retrieved 7 August 2014.
  24. Kathleen Chu and Katsuyo Kuwako (February 14, 2013). "Nippon Prologis Jumps in Debut After $1 Billion IPO: Tokyo Mover". Bloomberg. Archived from the original on July 14, 2014. Retrieved June 9, 2017.
  25. Levin, Jonathan (June 4, 2014), Prologis Property REIT Unchanged in First Mexico IPO of 2014, Bloomberg, archived from the original on September 2, 2016, retrieved April 28, 2017
  26. "Prologis, Inc". Google Finance. Archived from the original on 26 July 2014. Retrieved 7 August 2014.
  27. "Prologis, Inc - Why Invest - Why Invest".
  28. "S&P 500 Index". CNNMoney.com. Archived from the original on 14 July 2014. Retrieved 7 August 2014.
  29. ^ Slatin, Peter (June 20, 2011). "Prologis Becomes World's Biggest Industrial Property Company--Now What?". Forbes. Archived from the original on 14 July 2014. Retrieved 6 June 2014.
  30. Prologis to Buy DCT Industrial Trust for $8.4 Billion, Wall Street Journal, 2018, archived from the original on 2019-05-18, retrieved 2019-06-19
  31. As Warehouse Stocks Slump, Prologis Doubles Down With A $26 Billion Takeover by Kevin Dowd; Forbes. June 14, 2022.
  32. Prologis, the world’s largest warehouse operator, agreed to acquire rival real-estate company Duke Realty in a $23 billion deal The Wall Street Journal. June 14, 2022.
  33. "About Prologis, Inc." REIT Notes. Accessed February 25, 2023.
  34. Investor Relations Prologis. Accessed February 25, 2023.
  35. "Prologis, Inc". CNBC. Archived from the original on 11 August 2014. Retrieved 7 August 2014.
  36. "Broadcast Coverage". Prologis. Archived from the original on 13 August 2014. Retrieved 7 August 2014.
  37. "Equilar 100: CEO Pay at the Largest Companies by Revenue". Equilar. 2024-06-07. Archived from the original on 2024-08-15. Retrieved 2024-08-31.
  38. Nelson, Louis (2024-06-23). "Hillary Clinton racks up business endorsementsg". www.politico.com. Retrieved 2024-09-09.
  39. "Members". www.businessroundtable.org. Retrieved 2024-09-09.
  40. "Board of Directors". Urban Land Institute. Archived from the original on 25 June 2014. Retrieved 7 August 2014.
  41. "Hamid R. Moghadam". Stanford Professionals In Real Estate. Archived from the original on 3 March 2016. Retrieved 7 August 2014.
  42. Bechard, Matthew. "REITs@50: Industry Reflections, Hamid Moghadam of AMB Property Corp". NAREIT. Archived from the original on 8 September 2015. Retrieved 7 August 2014.
  43. ^ "REIT Industry Honors AMB's Hamid Moghadam" (PDF). National Association of Real Estate Investment Trusts (NAREIT). Archived (PDF) from the original on 6 September 2015. Retrieved 7 August 2014.
  44. "Board of Directors". Making Waves Foundation. Archived from the original on 22 October 2014. Retrieved 7 August 2014.
  45. "Seven New Members Elected to Serve on the California Academy of Sciences Board of Trustees". California Academy of Sciences. Archived from the original on 11 August 2014. Retrieved 7 August 2014.
  46. "2014 Board of Trustees". Stanford University. Archived from the original on 2 July 2014. Retrieved 7 August 2014.
  47. Stanford Hamid and Christina Moghadam Program in Iranian Studies Mission & History, Stanford University, 2017, archived from the original on 2017-06-11, retrieved 22 June 2023
  48. Moghadam Award, Stanford University, 2017, archived from the original on June 11, 2017, retrieved April 28, 2017
  49. "Hamid R. Moghadam". EY. Archived from the original on June 14, 2006. Retrieved April 24, 2017.
  50. ^ "Hamid Moghadam". Walker's Research. Archived from the original on 12 August 2014. Retrieved 7 August 2014.
  51. "NAREIT Industry Leadership Award Recipients". National Association of Real Estate Investment Trusts. Archived from the original on 19 July 2014. Retrieved 7 August 2014.
  52. "2013 EY Entrepreneur Of The Year". Ernst & Young Global Limited. Archived from the original on 7 July 2014. Retrieved 7 August 2014.
  53. ^ "Iranian American Ellis Island Honorees". Public Affairs Alliance of Iranian Americans, Inc. Archived from the original on 18 August 2014. Retrieved 7 August 2014.
  54. "Prologis' Moghadam Rises on Harvard Business Review's 2018 Best-Performing CEO List". 29 October 2018. Archived from the original on 2019-10-14. Retrieved 2019-10-14.
  55. "The Best-Performing CEOs in the World". Harvard Business Review. November 2016. Archived from the original on May 30, 2017. Retrieved April 28, 2017.
  56. Epstein, Jennifer (June 23, 2016). "Republicans Are Among Business Leaders Backing Clinton". Bloomberg. Archived from the original on April 16, 2017. Retrieved April 16, 2017.
  57. Yeung, Ngai (July 28, 2022). "Real Estate CEO Robbed at Gunpoint Calls San Francisco Crime 'Absolutely Unacceptable'". Bloomberg News. Archived from the original on July 29, 2022.

External links

Categories: