(Reuters) -Billionaire real estate investor Sam Zell has died at the age of 81, according to a statement from Equity Residential, the real estate investment trust (REIT) he chaired.
Known for his bet on distressed assets and for popularizing the REIT structure in the 1990s, Zell founded the company that was a precursor to Equity Residential and took it public in 1993.
He also invested in manufacturing, travel, retail, healthcare and energy businesses, Equity Residential said.
He had a net worth of $5.2 billion, according to Forbes.
(Reporting by Niket Nishant in Bengaluru; Editing by Pooja Desai and Arun Koyyur)
