Herbert Simon Retires as Chairman Emeritus of Simon Property Group

Herbert Simon, co-founder and longtime chairman emeritus of Simon Property Group, retired at the age of 90, effective February 4, 2025. He founded the company alongside his late brother Melvin in 1960, which has since grown to become the largest mall operator in the world with over 200 shopping centers globally. In his farewell statement, Simon expressed pride in the company's journey and confidence in his nephew David Simon's leadership as CEO. Herb Simon is also the owner of the NBA's Indiana Pacers, a franchise he and Melvin saved in 1983, and he was recently inducted into the Naismith Basketball Hall of Fame. Simon's retirement marks the end of an era for the company that has significantly shaped commercial real estate and professional basketball in Indianapolis. The Simon family remains actively involved in both the Pacers and the operations of Simon Property Group.