Melvin Simon, co-founder of Simon Property Group dies

Melvin Simon, co-founder of Simon Property Group (SPG), died on Sept. 16. He was 82. Melvin and his brother founded Melvin Simon & Assoc. in 1960 and founded SPG in 1993. SPG owns 12 malls in the state, including Roosevelt Field in Garden City and Walt Whitman Mall in Huntington Station. It currently owns or has an interest in 386 properties comprising 244 million s/f in North America, Europe and Asia. Simon and his brother, Herbert, also owned the NBA professional basketball team, the Indiana Pacers. Forbes Magazine estimated that Simon and his shopping-mall business were worth $1.3 billion.