Miami’s real estate skyline has been significantly shaped by Jorge M. Pérez, the Argentine-American founder of Related Group. From luxury towers in Paraíso Bay to mixed-income housing in Marti Park, his developments span the socioeconomic spectrum. Since 1979, Pérez has led the construction of over 120,000 residences across cities like Miami, Las Vegas, and Puerto Vallarta, building a $40 billion portfolio. His influence on Miami earned him the nickname “Condo King,” known for integrating art and culture into architecture.
After nearly five decades at the helm, Jorge Pérez recently handed over the reins of Related Group to his sons, Jon Paul and Nick. However, the transition wasn’t automatic. Intent on preventing nepotism and proving their worth, Jorge required both sons to earn MBAs, work for competitors, and spend over a decade climbing the corporate ladder before joining Related Group in leadership roles—a rigorous 18-year process designed to establish credibility.
Earning Leadership Through Merit, Not Entitlement, in a Carefully Structured Career Path
Jorge was adamant about avoiding perceptions of entitlement within the company. When Jon Paul began working for Related Group, he had already proven himself externally. Starting in New York at Related Companies, he gained deep experience in luxury real estate and financial analysis. Jorge ensured that when his sons joined the family business, they started at the bottom—just like any other employee—before gradually rising to leadership roles.
Jorge Pérez Hands Related Group to Sons After 18-Year Merit-Based Succession JourneyJon Paul joined Related Group in 2012, starting in the rental division, while also completing his MBA from Northwestern’s Kellogg School of Management. Over 13 years, he earned the respect of colleagues and executives by steadily taking on more responsibility. By the time the pandemic hit, he was ready to step up as president, ultimately becoming CEO in 2024. Nick, meanwhile, now leads the company’s condominium division.
Strategic Succession Blends Experience with Innovation, Avoids Family Conflict, Ensures Business Continuity
Now in the role of founding executive chairman, Jorge remains involved in an advisory capacity. He emphasizes that his sons are not only capable but bring a fresh perspective to the business—especially in understanding younger markets. The transition, he says, has been strategic, smooth, and carefully timed to benefit the company, with no disruption to operations.
Succession in family businesses often leads to internal conflict, but the Pérez family avoided that fate. Jorge was proactive in maintaining harmony, recognizing that power transitions can become emotionally charged. By respecting his sons’ growing autonomy while offering his experience as guidance, he helped keep family relationships intact while ensuring the business stayed strong.
Ultimately, Jorge Pérez’s succession plan reflects a balance between legacy and innovation. While his sons bring energy and new ideas to the business, Jorge continues to provide the benefit of his decades-long experience. The carefully planned leadership handoff avoided pitfalls common in family-run firms and laid the groundwork for a new era of growth at Related Group.
