Sandeep Lakhmi Mathrani is the CEO of WeWork, a global network providing co-working spaces to companies. Born in Gujarat, India, Sandeep was also the CEO of GGP Inc., one of the most prominent commercial real estate companies in the USA during the 20th century. Sandeep got into the real estate business in 1986. In his three-decade-long career, he has achieved several milestones and emerged as a real estate mogul.
Sandeep Lakhmi Mathrani is an Indian-American former real estate executive. In 2020, co-working spaces provider company WeWork announced Sandeep as their CEO. Sandeep has gained recognition in the real estate world since he joined Brookfield Properties in August 2018. He is known for managing companies and businesses dealing with debt and helping them regain an excellent financial position. With Sandeep’s arrival, WeWork is pacing toward success after its failed Initial Public Offering.
In 1962, Sandeep Lakhmi Mathrani was born in Gujarat, India. He attended the Cathedral & John Cannon School in Mumbai, Maharashtra, for schooling. At the age of sixteen, he decided to move to America. However, his father was against his decision. He asked Sandeep to pursue further studies in the United Kingdom like the other family members. But Sandeep was confident about his decision and went against his father’s will. With persistence, he secured a Rotary Exchange Scholarship. His father asked him to reconsider his choice in 11th grade, but Sandeep wanted to go for a bachelor’s degree in States. Within a few months, he left his home country to settle in an unknown place, far from home, without any financial or emotional support.
Sandeep moved to Philadelphia, Pennsylvania, USA, on his own. He was just a teenager and managed to live life on his terms away from family. Upon moving, he joined the Steven’s Institute of Technology in Hoboken, New Jersey. With the scholarship, Sandeep managed to cover the tuition fees. However, he had to do multiple part-time jobs like washing dishes, cashiering, and unloading trucks to spare the living expenses. Sandeep graduated in 1983 with a bachelor’s degree in management science and engineering. After completing graduation, Sandeep opted for a master’s degree in engineering. From a young age, Mathrani was intelligent, passionate, and good with numbers. He was ambitious about becoming a successful person. During his mid-20s, he met Bruce Ratner and Steven Roth. Bruce Ratner co-founded the real estate investment trust Forest City Ratner. In contrast, Steven Roth founded the Maryland-based real estate investment trust Vornado.
Initial Years in Real Estate
In 1986, with the help of a Federal Housing Administration loan and by selling a four-door sedan Nissan Sentra, Sandeep bought an apartment. He had swapped the Nissan Sentra with Volkswagen Rabbit Diesel. Through the deal, he pocketed $1,900. After a year, Sandeep sold the condo at a profitable rate. He earned a hefty sum of $20,000. Throughout his initial years, Bruce Ratner and Steven Roth mentored him. Soon, Sandeep realized that being a part of the real estate world is a profitable deal. As a result, he began investing in properties and gained experience in the real estate field.
After learning the know-how of the property leasing and buying industry, Sandeep gained a considerable amount of experience. Consequently, Bruce Ratner hired him in his real estate investment firm, the Forest City Ratner. In 1994, Sandeep became Forest City Ratner’s executive vice president. While working at the real estate investment firm, Sandeep supervised the company’s retail development and leased property in New York City’s metropolitan area. For eight years, Sandeep managed to excel at his position. Later, in 2002, he joined Steven Roth’s Vornado Realty Trust. Till 2010, Sandeep dealt with real estate properties in the Greater New York City area as the company’s retail division head.
Pathway to Success
After leaving Vornado Realty Trust, Sandeep joined General Growth Properties. At the time, GGP Inc. was going through a challenging financial phase. In 2009, the company missed its loan deadline worth $900 million. As a result, GGP Inc. was on the verge of bankruptcy. The company’s CEO Adam Metz and President Thomas Nolan were quick to resign from their respected positions. Consequently, GGP hired Sandeep Mathrani as the company’s new CEO in December 2010. GGP underwent substantial changes after Sandeep’s arrival. The company acquired the historical Crown Building in NYC for an estimated $1.7 billion. It was one of the most significant acquisitions by GGP. Under Sandeep’s leadership, GGP grew considerably.
In 2018, Brookfield Property Partners acquired GGP Inc. After the acquisition, Sandeep earned over $180 million through the company’s cash-and-stock takeover. Later, he joined Brookfield’s retail property management wing as the Chief Executive. From August 2018 to February 2020, Sandeep served as Brookfield’s retail group’s CEO and Brookfield Properties’ Vice Chairman. Marcelo Claure, executive chairman of WeWork, hired Sandeep as the company’s CEO in February 2020 to improvise WeWork’s real estate skills and lead the company to a profitable future. Under Sandeep’s leadership, WeWork has emerged as one of the leading co-working spaces provider companies in the States, with over a 30% increase in revenue in two years.
What is the net worth of Sandeep Lakhmi Mathrani?
Sandeep Lakhmi Mathrani’s net worth is estimated to be $13 million. He has been a part of the real estate business for over three decades. In February 2020, prominent co-working spaces provider WeWork hired him as the CEO.
How old is Sandeep Lakhmi Mathrani?
Sandeep Lakhmi Mathrani is 60 years old as of 2022. He was born in 1962 in Gujarat, India. For schooling, he attended the Cathedral & John Cannon School in Mumbai, Maharashtra. Later, he moved to Philadelphia, Pennsylvania, to pursue higher education.
Is Sandeep Lakhmi Mathrani married?
Yes, Sandeep Lakhmi Mathrani is married to Ayesha Bulchandani Mathrani. She is an entrepreneur and owns a label called Soul and Accent Designs.