When you think about billionaires, you probably picture massive mansions with fancy cars and swimming pools. Herb Simon isn’t quite like that. The 90-year-old real estate titan and Indiana Pacers owner lives a surprisingly grounded life, splitting his time between two key properties that tell the story of his rise from Brooklyn to becoming one of America’s wealthiest men.
Who Is Herb Simon?
Herbert Simon didn’t start out rich. Born in Brooklyn in 1934, he grew up in a working-class neighborhood before going to City College of New York. Along with his brother Mel, he founded what would become Simon Property Group—a company that now owns and operates nearly 180 shopping malls across the globe. That’s how he built his fortune: not through flashy real estate flips, but through steady, smart business decisions in retail development.
His net worth sits around $4.7 to $6.45 billion depending on who’s counting. Beyond shopping centers, Simon owns the Indiana Pacers, which he bought in 1983. In October 2024, he got inducted into the Basketball Hall of Fame—a rare honor for an owner. Friends describe him as quiet and generous, someone who prefers staying out of the spotlight even though his business empire is everywhere.
Where Does Herb Simon Live?
Unlike many billionaires who chase the glitziest addresses, Herb Simon chose Indianapolis as his primary home. The city became his anchor, and for good reason. He and his brother built their company’s headquarters there, invested heavily in downtown development, and became woven into the community’s fabric. His connection to Indianapolis goes way deeper than just owning a basketball team.
Simon’s Indianapolis residence reflects his personality: stable, understated, and practical. He’s not the type to constantly chase new properties or show off with multiple extravagant homes. The city represents his roots in the business world and his commitment to the Midwest. While specific details about the home’s exact location or square footage aren’t splashed across real estate websites, his presence in Indianapolis has shaped the city’s sports and business landscape for decades.
The Montecito Connection
Beyond Indianapolis, Simon maintains a presence in Montecito, California—a quiet, upscale community nestled between Los Angeles and Santa Barbara. Montecito attracts wealthy individuals who want luxury without the flashiness of Beverly Hills. It’s the kind of place where billionaires can actually live somewhat privately.
His California estate represents a different side of Simon’s life—the relaxation side. While Indianapolis is all business and community involvement, Montecito offers him a retreat. The property sits in one of America’s most exclusive neighborhoods, though like much of his personal life, the specific details remain private. He doesn’t grant many interviews about his homes or lifestyle, which only adds to the mystique.
A Family with Real Estate Smarts
What makes the Simon household unique is his wife, Bui Simon. She’s not just any spouse—she was Miss Universe 1988. Bui brings her own serious real estate portfolio to the marriage. She owns multiple California properties, including holdings in Malibu and Pacific Palisades. One of her Malibu penthouses sold for $5 million to actress Gal Gadot, showing just how valuable these properties are.
The couple has eight children together, and several are involved in the family business. His son Steve serves as an alternate governor for the Pacers. His daughters Rachel and Cindy have stayed more behind the scenes. The family’s real estate holdings aren’t just about personal use—they reflect smart wealth management across multiple properties and locations.
The Real Estate Empire Behind the Man
To understand Herb Simon’s house choices, you need to understand Simon Property Group. The company operates shopping malls, outlet centers, and lifestyle destinations worldwide. This isn’t a random business—it shaped how Simon thinks about property, value, and long-term investment.
Someone who builds an empire around real estate development thinks differently about personal property than, say, a tech entrepreneur or entertainment mogul. Simon’s business approach focuses on steady growth, solid fundamentals, and not overpaying for anything. Those same principles apply to his homes. He doesn’t need ten mansions or the most expensive address. He needs places that work—one for business and community in Indianapolis, another for personal time in California.
Privacy and the Billionaire Lifestyle
One thing strikes people about Herb Simon: he’s genuinely private for someone so wealthy and powerful. In an era where billionaires post on social media and make headlines constantly, Simon stays quiet. He doesn’t throw lavish parties or put his homes in architectural magazines.
This restraint says something. It suggests his satisfaction doesn’t come from showing off. His wealth matters less than his impact—the Pacers, the shopping malls, the jobs created, the communities shaped. His homes serve his life; they don’t define it. That’s unusual in billionaire circles and makes him something of an outlier.
A Legacy Rooted in Real Estate
Herb Simon’s houses represent more than just personal property. They’re part of a larger story about American business success and how wealth gets built over time. From his start in Brooklyn to running a global real estate company to owning a championship basketball team, every decision—including where he lives—reflects his values.
Indianapolis grounds him. California gives him space. Together, these two bases create a life that balances business ambition with personal peace. As Simon enters his 90s, his homes stand as quiet monuments to a career built on understanding real estate, making smart bets, and staying focused when others got distracted.
The Herb Simon house story isn’t glamorous like some billionaire real estate tales. But it’s honest. It shows that you don’t need the biggest mansion or the most famous address to build an extraordinary life. Sometimes the best investment is knowing where you belong and staying there.
