After the Departure of 'Mall King', Transition to Heir System... Leadership Change at America's Largest Shopping Mall REIT

On March 22, 2026, Simon Property Group, Inc. (SPG) announced that David Simon, its chairman, chief executive officer and president, passed away after battling cancer. In line with its pre-established succession plan, the company has appointed Eli Simon as its new CEO and president, and Larry Glasscock as non-executive chairman of the board.

The company emphasized that Eli Simon will retain his roles as chief operating officer and board director, working alongside the existing leadership team to ensure operations and strategic initiatives proceed without interruption.

In February, Simon Property Group also approved a new share repurchase program authorizing up to $2 billion in buybacks through February 29, 2028, continuing its commitment to shareholder returns.

Listed on the New York Stock Exchange and a member of the S&P 100, Simon Property Group is the largest owner of shopping malls and outlets in the United States. The REIT owns and manages more than 200 retail, entertainment and mixed-use properties across North America, Europe and Asia. As one of the industry’s leading indicators for U.S. retail commercial real estate and brick-and-mortar retail performance, this leadership transition is drawing close attention throughout the REIT and commercial property sectors.