Mohamed Hadid: The Real Estate Titan Behind Bella And Gigi

What’s the Deal with Mohamed Hadid’s Net Worth?

Let’s talk about Mohamed Hadid. You might not know his name, but you’ve definitely heard of his daughters—supermodels Bella and Gigi Hadid. Mohamed, a Palestinian-born real estate developer, boasts a net worth of $1 million, though his career has been as dramatic as it is impressive. Known for developing some of the world’s most luxurious properties, including Ritz-Carlton hotels and mega-mansions, Mohamed’s journey in real estate is nothing short of extraordinary. But it hasn’t always been smooth sailing.

Mohamed moved to the U.S. and started small, but his big break came with the development of Ritz-Carlton hotels in Houston, New York, Aspen, and Washington D.C. These projects weren’t just buildings; they were statements. His work quickly earned him a reputation as someone who could handle large-scale, opulent projects. Later, he shifted his focus to Beverly Hills and Bel Air, where he built homes so extravagant they seemed more like castles than houses.

His style? Think grand staircases, ornate interiors, and sweeping views. His homes aren’t just places to live—they’re works of art, blending Mediterranean charm with modern luxury. But like any good story, there’s a twist. Mohamed’s career hasn’t been without controversy. Legal and financial challenges have dogged him, especially over the development of some of his massive mansions in Los Angeles.

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Take, for instance, the infamous Bel-Air mansion that became the center of a massive controversy. It was a 40,000-square-foot behemoth that far exceeded the size approved in the original plans. Neighbors were not happy, and city officials eventually ordered it torn down. Mohamed claimed he couldn’t afford the demolition, and his construction business filed for bankruptcy soon after. Oddly enough, just months before this financial trouble, he splurged $4.5 million on a new home.

The Bel-Air Disaster: When Things Went Off the Rails

In 2011, Mohamed purchased a prime piece of land in Bel-Air for $1.9 million. But from the start, things got complicated. His plans for a mansion were met with fierce opposition from neighbors who thought the project was far too big for the area. Undeterred, Mohamed went ahead and started building what would eventually become a 40,000-square-foot mansion. Nicknamed the "Starship Enterprise," this project would soon become a nightmare.

Here’s where it gets messy. The original plans called for an 11,300-square-foot home with a maximum height of 30 feet. What Mohamed built? An 82-foot structure with all sorts of unauthorized additions, including a 70-seat underground IMAX theater and multiple bedrooms in an unapproved underground level. Neighbors were furious, alleging that the mansion was roughly four times the allowed size and built on unstable hillside land without proper permits. Some even claimed that Mohamed bribed city inspectors and falsified reports.

In 2017, neighbors filed a lawsuit demanding the mansion be torn down. The city got involved, ordering parts of the structure to be demolished. The FBI even investigated allegations that Hadid bribed at least one city official. By November 2019, city officials decided the mansion was unsalvageable and ordered it torn down entirely. In December 2021, the property was auctioned off for $5 million to a developer who had to prove they could afford the demolition and build something more reasonable.

Here’s a drone video tour of the partially-completed mansion:

Financial Troubles: How Did This Happen?

Fast forward to November 15, 2019, when Mohamed appeared in a Los Angeles courtroom. His lawyers argued that he simply didn’t have the $500,000 needed just to begin the demolition process. But here’s the kicker: just a few months earlier, in September 2019, Mohamed had dropped $4.5 million on a new home. And let’s not forget that in 2010, he sold a personal home to Malaysian fugitive Jho Low for $17.5 million. So how could he possibly be broke?

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On November 27, 2019, Mohamed’s real estate company filed for bankruptcy, citing debts between $10 and $50 million. The company owed $386,000 to a design and management firm, $93,000 to a demolition company, and $35,000 to plumbers. The bankruptcy filing was forced after estimates showed that demolishing the Bel-Air mansion would cost over $5 million, requiring a $500,000 down payment. Unfortunately for Hadid, the bankruptcy filing was dismissed.

In a written declaration, Mohamed explained:

"The stigma of the project and the impact on my life over the past six years that [a neighbor] has harassed me have been personally devastating. My reputation is tarnished and my ability to go out and borrow other money is fractured at best. I am 72 years old and do not have the millions of dollars needed for the demolition of Strada Vecchia. I may have 'paper assets' but there are substantial loans against everything I own, this I have no liquidity with which to fund the demolition of 901 Strada."

Early Days: From Art to Real Estate

Mohamed Hadid was born in Palestine but moved to the U.S. as a child with his family. Initially, he wanted to pursue a career in art, but he realized there was more money in building the walls of the mansions he dreamed of filling with art. He got his start in Washington D.C., developing residential apartment buildings and single-family homes. It wasn’t long before he struck gold by developing Ritz-Carlton hotels in Houston, New York, Aspen, and Washington D.C.

Today, Mohamed runs "Hadid Development," a company that focuses on ultra-high-end real estate projects around the world. They’re building resorts, houses, condominiums, and commercial projects mainly in Bel Air, Beverly Hills, Aspen, Paris, and suburban Virginia. What sets Hadid Development apart is its willingness to take huge financial risks by building massive mansions without having a buyer lined up in advance. This model has proven lucrative for Mohamed, who eventually returned to his art roots by opening his own gallery in Beverly Hills.

Success Stories: The Rise of a Real Estate Mogul

After finding financial success, Mohamed’s life became intertwined with art and luxury. When he divorced Yolanda Hadid, court documents revealed that he paid her $3.6 million in cash and gave up several mansions and expensive cars. But his development success didn’t stop there.

In 2010, Mohamed developed a home in Bel Air that he dubbed "Le Belvedere." He listed it for $85 million in 2016 but eventually sold it in 2018 for $56 million. Between 2011 and 2012, he developed another stunning property in Beverly Hills called The Crescent Palace, also known as Le Palais. This 48,000-square-foot mansion was located on an acre of some of the most exclusive land in the world, right next to The Beverly Hills Hotel. It featured 11 bedrooms, a library, an art gallery, a 3,800-square-foot roof garden, a 5,000-bottle wine cellar, and a 40-person movie theater. In 2013, it sold for $33 million to the daughter of a former dictator of Uzbekistan.