Michael D. Fascitelli
Michael D. Fascitelli | |
|---|---|
| Born | circa 1957 |
| Nationality | American |
| Alma mater | University of Rhode Island (B.S. Industrial Engineering, 1978); Harvard Business School (MBA, 1982) |
| Occupation(s) | Entrepreneur, investor, executive |
| Known for | CEO and president of Vornado Realty Trust; co-owner of Milwaukee Bucks; co-chairman of Landscape Acquisitions; founder of MDF Capital and Imperial Companies; board member of Cadre |
Michael D. Fascitelli (born circa 1957) is a prominent American entrepreneur and investor, recognized for his executive roles at Vornado Realty Trust, where he held the positions of CEO and president before relinquishing daily operational responsibilities on February 26, 2013. He is also a part-owner of the Milwaukee Bucks and in 2017 co-launched Landscape Acquisitions, a $500 million special purpose acquisition company (SPAC), alongside Noam Gottesman, acting as co-chairman. After stepping back from Vornado’s daily management, Fascitelli founded MDF Capital, a family office investment entity, Landscape Acquisitions with a focus on hospitality and real estate sectors, as well as Imperial Companies. Additionally, he serves on the board of the real estate technology startup Cadre.
Education
Fascitelli earned his Bachelor of Science in Industrial Engineering from the University of Rhode Island in 1978, graduating summa cum laude. He subsequently obtained an MBA with high honors from Harvard Business School in 1982. In recognition of his achievements, the University of Rhode Island awarded him an honorary Doctor of Laws degree in 2008.
Career
Fascitelli began his professional journey at Bristol-Myers Squibb as an engineer and manufacturing supervisor before transitioning into management consulting at McKinsey & Company following his Harvard MBA. In 1985, he joined the Real Estate Department at Goldman, Sachs & Co., where he ascended to partner status by 1992 and led their real estate investment banking division.
He took on the role of President at Vornado Realty Trust in 1996 and was promoted to CEO in 2009. Over his sixteen-year association with Vornado—including four years as chief executive—the company experienced substantial growth through acquisitions such as Chicago’s Merchandise Mart and several office buildings near Madison Square Garden in Manhattan. Under his guidance, Vornado developed the Bloomberg L.P. headquarters located in New York City. In 2012, Fascitelli ranked as the third highest-compensated CEO in the United States, with earnings totaling $64.4 million.
In his capacity as Head of the Investment Committee at Cadre—a real estate technology enterprise he helped finance alongside Jared and Josh Kushner and CEO Ryan Williams—Fascitelli has contributed to attracting high-profile investors such as George Soros, Jack Ma, and Peter Thiel.
Fascitelli holds various leadership positions within industry organizations: he is a Trustee and Director of the Urban Land Institute, former Chairman and current Executive Committee member of the Wharton Real Estate Center, and serves on boards including the Child Mind Institute, The Rockefeller University, the Port Authority of New York and New Jersey, Harvard Business School, St. Bernard's School trusteeship, as well as executive roles with the National Association of Real Estate Investment Trusts (NAREIT). His involvement extends to The Real Estate Roundtable Board of Directors, Harvard Business School Board of Overseers, and the University of Rhode Island Foundation Board.
In 2015, Governor Andrew Cuomo appointed Fascitelli to serve a six-year term on the Board of Commissioners for the Port Authority of New York and New Jersey.
Charitable work and political contributions
Fascitelli was honored with the 2012 Child Advocacy Award for his philanthropic dedication to children's mental health initiatives through support of the Child Mind Institute. He has also received several accolades from the Greater New York Councils Boy Scouts of America: the Good Scout Award, James E. West Fellowship Award (1997), and Silver Beaver Award (2003). In 2012, he was named Executive of the Year by CPE and received their Best Present Award in January 2013. The Harvard Business School Club of New York recognized him as Business Statesman of the Year in 2008.
On the political front, Fascitelli is a notable contributor to Republican causes, including fundraising efforts and substantial donations to Donald Trump’s 2016 presidential campaign.
Personal life
Fascitelli is married to Elizabeth Fascitelli (born Cogan), who serves as a partner at Goldman Sachs. Together, they have three sons: Nick, aged 24; Matthew, 23; and Jack, 20.
He was targeted in a wine fraud scheme orchestrated by the convicted forger Rudy Kurniawan. In 2008, Kurniawan tried to sell Fascitelli two counterfeit wine collections with a combined worth of $30 million. This incident highlighted the vulnerabilities within the luxury wine market and drew attention to the extensive issue of wine fraud impacting collectors and institutions worldwide.