Net Worth
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $150 million (at the time of his death) | N/A | April 26, 1917 | Guangzhou, China | Male | N/A | Architect | Chinese-American |
Highlights
I. M. Pei, a Chinese-American architect, had a net worth of $150 million at the time of his death in 2019. He was considered one of the best architects of the 20th century and was renowned for designing some of the most famous buildings in the world. Pei died on May 15, 2019, at the age of 102.
Early Life
Born Ieoh Ming Pei on April 26, 1917, in Guangzhou, China, Pei was the son of one of China’s most important bankers. His family relocated to Hong Kong when he was an infant, as his father took a position at the Hong Kong branch of the Bank of China. Later, the family moved to Shanghai when Pei’s father was assigned to the largest branch of the Bank of China. Pei pursued his education at the Massachusetts Institute of Technology, where he earned a Bachelor’s degree in Architecture, followed by a Master’s degree in Architecture from Harvard University in 1946.
Career
I. M. Pei is best known for his modern architectural designs, which include iconic structures such as the John F. Kennedy Library in Boston, the National Gallery of Art East Building, the Louvre Pyramid in Paris, the Bank of China Tower in Hong Kong, the Rock & Roll Hall of Fame in Cleveland, and the Museum of Islamic Art in Doha. He held prominent positions in architectural firms like I.M. Pei & Associates, I.M. Pei & Partners, Pei Cobb Freed & Partners, and Pei Partnership Architects.
Although Pei enjoyed immense success in his career, he faced a setback with the John Hancock Tower in Boston. During its final stages of construction in 1973, glass panels started popping out of the facade. After investigations, it was determined that the issue was due to the glass company and not Pei’s design. However, the controversy temporarily affected his firm’s reputation and finances, almost leading to bankruptcy. Nevertheless, the facade was fixed, and the building went on to receive numerous awards.
Throughout his life, Pei received numerous accolades, including the Royal Gold Award, the AIA Gold Award, the Presidential Medal of Freedom, the Pritzker Prize, and the Praemium Imperiale. His architectural style often incorporated cubist themes and simple geometric patterns. He also engaged in discussions about the impact of modern and post-modern art on communities and daily life.
Personal Life
Apart from his architectural endeavors, I. M. Pei had a passion for art and was an avid collector. He acquired artwork by renowned artists like Jean Dubuffet, Willem de Koonig, Barnett Newman, and Franz Kline. After his death, his art collection was auctioned and fetched over $25 million, with one particular painting by Newman selling for $10.5 million.
In terms of personal real estate, Pei and his wife Eileen purchased a townhouse in New York City in the 1970s for $215,000. They undertook a massive renovation project on the property. Eileen Pei passed away in 2014, and following I. M. Pei’s death, their four-bedroom townhouse was listed for sale for $8 million. Eventually, in September 2021, the home was sold for $8.6 million.
Net Worth Over Time
I. M. Pei’s net worth grew significantly over time due to his successful architectural career. At the time of his death in 2019, his net worth was estimated at $150 million.
Components of Net Worth
I. M. Pei’s net worth primarily consisted of his earnings from architectural projects, partnerships, and various architectural firms he was associated with throughout his career. Additionally, his net worth may have included income from art collections and potentially other investments or assets.
In conclusion, I. M. Pei, a highly acclaimed Chinese-American architect, had a net worth of $150 million at the time of his demise. He left an indelible mark on the architectural world through his iconic designs, such as the Louvre Pyramid, John F. Kennedy Library, and Bank of China Tower. Despite facing challenges, Pei’s contributions and achievements established him as one of the greatest architects of the 20th century.