A year later he sold $81 million worth of real estate.
At its peak, about $1 billion worth of real estate was developed annually.
It is also believed to own billions of dollars' worth of American and European real estate.
Last month, he sold more than 10,000,000 dollars worth of real estate... and the internet was a key part of that.
It is now the only lizard in the world with $25 million worth of real estate.
According to one broker, Khedari may have sold between $70 million and $80 million worth of real estate in 1988.
In addition, he said, "there's $17.5 million worth of real estate out there that is going down the drain."
The poor in third world countries are rich in assets - according to de Soto, they own $9.3 trillion worth of real estate.
This year alone, Blackstone has bought $20 billion worth of real estate, or 7 percent of all acquisitions.
Since then, Broadway has bought or is in contract to buy nearly $3 billion worth of real estate, mostly in very strong markets.