Who is Scott Malkin? All About ‘Value Retail’ Founder

Successful lawyer and businessman, Scott Malkin, has amassed a substantial fortune through his involvement in sports and retail. Malkin, whose net worth is estimated at $400 million, is best known for being the founder of Value Retail and a co-owner of the NHL’s New York Islanders. His professional background encompasses luxury fashion, real estate, and sports management.

Early Life of Scott Malkin

Malkin, who was born in 1959, comes from a family with a long history in real estate. His grandfather Lawrence Wien founded the first real estate syndicates, and his father Peter Malkin formerly owned the Empire State Building. Malkin, who was raised in Connecticut, studied at Harvard University and graduated with degrees in business and law.

Value Retail Success

Value Retail, which Malkin founded in 1992, completely changed the idea of outlet shopping in London. His idea was to bring high-end brands to the periphery of large cities, where they would sell discounted products in beautifully decorated “Villages.” With an annual sales revenue of over $2 billion, these open-air centers are currently operational in China, Europe, and New York.

Ownership of the New York Islanders

Malkin and Jon Ledecky, his college roommate, bought the New York Islanders together in 2014. They became full owners of the NHL team in 2016 after serving as minority owners for two years, and they helped the team flourish.

Personal Life of Scott Malkin

In 1984, Laura Russell and Malkin got married. U.S. Senator Richard Blumenthal is the spouse of his sister, Cynthia Malkin. Scott Malkin continues to be a well-known figure in business and sports thanks to his prosperous business endeavors and powerful family background.

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