Alfred Taubman, pioneer of indoor malls, dies

Alfred Taubman, a billionaire real estate developer who changed the face of suburban life in the US by pioneering upscale indoor shopping malls, has died.
Taubman, who also turned Sotheby's auction house into a global power of art sales, died on Friday at the age of 91.
Taubman died of an apparent heart attack in his home in Bloomfield Hills, Michigan, said his son, Robert S Taubman, the chairman, president and chief executive of Taubman Centers.
"He was so proud of what this wonderful company he founded 65 years ago has accomplished," Robert Taubman said in the statement.
Taubman, whose net worth was estimated at USD 3.1 billion by Forbes magazine this year, was renowned for his attention to detail, knowledge of design and for developing some of the best-known malls in the United States.

He first project was a freestanding bridal shop in Detroit. Over more than six decades, his company operated nearly 20 properties in the continental US, including well- known developments such as the Beverly Center in Los Angeles, The Mall at Short Hills in New Jersey and The Shops at Crystals, in Las Vegas, CNN reported.

His designs evolved over the years to include not only enclosed malls but various styles of open-air developments. And his influence stretched far from the American soil and into the thriving markets of China and South Korea.
Born to Jewish immigrants who went bust in the Great Depression, he studied architecture and worked for an architectural firm, but decided that drawing wasn't the path to success. "I wanted to build."

In his autobiography, "Threshold Resistance: The Extraordinary Career of a Luxury Retailing Pioneer," Taubman said that when he "looked over the horizon, I saw that there was money to be made by people who could build and own stores or, better yet, groups of stores."
But Taubman gained notoriety as well.
In 1983, he bought the renowned international auction house Sotheby's. And in 2002 he was jailed following a conviction for conspiring with rival auction house Christie's to fix auction house commission rates to maximize profits.
He was released in 2003 after having served nine months in prison.
Besides his three children, Taubman is survived by his wife, Judith Mazor Rounick.