RedCarpetLife
447
In the world today
Igor Olenicoff

Igor Olenicoff

I. Olenicoff
-3.77% | - $-313.17M
$8 B ₹ 72,760 Cr
Real Time Net Worth #447 Ranking as of 21 Feb 2026 By Forbes

More on Igor Olenicoff

Gender

Male

Age

84Y

Country

United States

Born On

January, 1942

Deceased

No

Relationship Status

Married

Children

1

Education

University Of Southern California - Master Of Business Administration

Designation Info :

Self-Made

Yes

Entrepreneur Type

Self-Made (Real Estate)

Primary Organization

Olen Properties

Titles

Founder

Sources of Wealth

Olen Properties

Industry

Real Estate

About Igor Olenicoff


I gor Olenicoff is a self-made American real estate billionaire. His is a classic immigrant story. He was born in Iran to Russian parents who had fled the Soviet Union, and he later immigrated to the United States as a teenager. He put himself through college and business school and, after a career as a corporate executive, he founded his own real estate company, Olen Properties, in 1973.

He has since built Olen Properties into one of the largest and most successful private real estate companies in Southern California and other parts of the United States. The company owns a massive portfolio of over 8 million square feet of office space and more than 15,000 residential apartment units. He is known for his long-term buy-and-hold strategy and for keeping his company privately owned. His career has also been marked by a major tax evasion scandal, for which he pleaded guilty and paid a massive fine.

Advertisement

Quick Reads


  • A self-made real estate billionaire and founder of Olen Properties.
  • His family fled the Soviet Union, and he was born in Iran.
  • His company owns a massive portfolio of office and apartment buildings, primarily in Southern California.
  • He is known for his long-term buy-and-hold investment strategy.
  • He pleaded guilty to felony tax evasion in 2007.

Early Life and Background


Igor Olenicoff is an American businessman, the self-made billionaire founder of Olen Properties, a massive real estate company specializing in office space and residential units across four states (California, Florida, Nevada, and Arizona). Born in Moscow, Russia, in 1942, his family fled the Soviet Union after WWII due to their tsarist leanings, eventually emigrating to the U.S. in 1957.

His parents, though educated, worked menial jobs (janitor, housekeeper) in the U.S. Olenicoff graduated from the University of Southern California (USC) with degrees in corporate finance and mathematics and an MBA. His career is defined by his commitment to real estate development and his controversial legal history concerning tax evasion.

Career Journey of Igor Olenicoff


Igor Olenicoff founded Olen Properties in 1973 and purchased a 16-unit duplex as his first asset. His strategic vision centered on aggressively acquiring and holding large portfolios of real estate, which now include 7.5 million square feet of office space and 10,000 residential units. This strategy, built on long-term appreciation, secured his multi-billion dollar fortune.

His career is significantly marked by legal controversy: in 2007, he pleaded guilty to a felony count of filing a false tax return for hiding $200 million in offshore accounts (Bahamas, Liechtenstein, Switzerland) and paid $52 million in back taxes and fees. He was granted a plea deal, which his own attorney later described as the gift of the century, avoiding jail time. His immense wealth is tied to the long-term, colossal appreciation of his real estate empire, managed with an extreme focus on financial privacy and tax minimization.

  • Olen Properties (Founder & Owner): The core private asset, a massive real estate company owning 7.5 million sq. ft. of office space and 10,000 residential units across four U.S. states.
  • Tax Evasion: In 2007, he pleaded guilty to felony tax fraud for hiding $200 million in offshore accounts.
  • Academic Background: He holds a B.A. in corporate finance and mathematics and an MBA from USC.
  • Family Foundation: He established the Andrei Olenicoff Memorial Foundation (named after his deceased son).

Advertisement

Igor Olenicoff's Timeline


1957:

Emigrates to the United States with his family (Pivotal Event).

1973:

Founds Olen Properties; purchases his first 16-unit duplex (Founding).

2007 (December):

Pleads guilty to a felony count of filing a false tax return and pays $52 million in back taxes and fees (Legal Crisis/Resolution).

Ongoing:

Continues as Founder and Owner, guiding the massive real estate empire (Executive Oversight).

Major Business Ventures and Investments


Igor Olenicoff's wealth is concentrated in his founding and controlling ownership of the private real estate giant, Olen Properties.

  • Olen Properties (Founder & Owner): The core private asset, a massive real estate company owning 7.5 million sq. ft. of office space and 10,000 residential units across four U.S. states.
  • Tax Evasion: In 2007, he pleaded guilty to felony tax fraud for hiding $200 million in offshore accounts.
  • Academic Background: He holds a B.A. in corporate finance and mathematics and an MBA from USC.
  • Family Foundation: He established the Andrei Olenicoff Memorial Foundation (named after his deceased son).

Advertisement

Philanthropy and Social Impact


Igor Olenicoff's social impact is structural, stemming from Olen Properties' role as a major landlord and developer of essential office and residential properties across the U.S. His company provides thousands of rental units and commercial space.

His personal philanthropy is channeled through the Andrei Olenicoff Memorial Foundation and supports various educational and community initiatives. His career is often used to illustrate the high-stakes legal and financial risks associated with offshore asset management and tax minimization strategies.

Fashion, Style, and Lifestyle


Igor Olenicoff maintains the professional, composed style of a real estate magnate. His attire is consistently formal and high-quality, favoring tailored suits. His aesthetic reflects stability and immense financial authority, often blending his executive image with his Russian heritage.

Residing in Newport Beach, California, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to real estate asset management, high-stakes finance, and navigating the complexities of international tax law.

Advertisement

Quotes and Philosophy


No publicly available quotes.

Fun Facts & Trivia


  • He pleaded guilty to felony tax fraud for hiding $200 million in offshore accounts (2007).
  • He is the founder of Olen Properties, which owns 10,000 residential units.
  • His parents were Russian tsarists who worked as a janitor and housekeeper in the U.S.
  • He was educated at USC, earning a degree in corporate finance and mathematics and an MBA.
  • He sold 140 hotels to Whitehall Global Real Estate for $1.25 billion.
  • His legal defense strategy became known as the 'Olenicoff Defense'.
  • His wealth is tied to the long-term, massive appreciation of U.S. commercial and residential real estate.

Advertisement

More Profiles


Alexandra Daitch

-0.75% | -$18.41M

Liesel Pritzker Simmons

+34.35% | +$525.16M

You May Like


Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

Sponsored Content