The story of Conley Wolfswinkel is an interesting one. The developer who was a focal point of the 1980’s Savings and Loan Scandal that cost the taxpayers hundreds of billions and left him a convicted felon and owing 2 billion dollars in restitution has now made a comeback. Wolfswinkel is fairly unknown outside of Arizona, but in the Phoenix area he and his family are major players in the real estate industry.
The Arizona Republic has the story on how Wolfswinkel created his initial empire, watched it crumble, and then through his children rebuilt it to an estimated net worth of 450 million.
His Chandler estate and Rolls-Royce were auctioned off. He was unable to own property or get a loan in his name. Today, Wolfswinkel, 58, is the patriarch of a family real-estate empire, valued in the hundreds of millions of dollars, that is positioned to shape the region’s growth for years to come. advertisement
Working through myriad family companies, in which he holds no legal stake, he has been in the shadows of hundreds of deals during the recent decade-long boom. Known as a fierce negotiator and ruthless competitor, he has amassed, in companies controlled by his children and other family members, more than 80,000 acres of largely undeveloped real estate in Maricopa, Pinal and Pima counties.
Conley Wolfswinkel estimates that one in six new homes built in Greater Phoenix in the next 20 years will be on his family’s land. The Arizona Republic