Mohamed Hadid, once synonymous with luxury mega-mansions and lavish living in Beverly Hills, has faced a dramatic financial fall from grace. As of 2025, the 76-year-old Palestinian-American real estate developer has an estimated net worth of $1 million—a far cry from his heyday in the 2000s. Best known as the father of supermodels Gigi Hadid and Bella Hadid, and the ex-husband of Yolanda Hadid, Mohamed’s story is one of ambition, excess, and controversy.
From Palestine to Palm Trees: Early Life and Real Estate Beginnings
Mohamed Hadid was born in 1948 in Palestine. His family immigrated to the United States during his childhood. Although he initially dreamed of being an artist, Hadid soon realized there was more money in real estate than in fine arts. He began his career in Washington, D.C., developing small-scale residential properties before transitioning to luxury projects.
His big break came with the development of Ritz-Carlton hotels in major cities like New York, Houston, Aspen, and Washington, D.C. These ventures established his reputation as a luxury real estate developer with a unique flair for opulence. Eventually, Hadid shifted focus to Los Angeles, where he became known for his extravagant builds in Bel-Air and Beverly Hills.
Building a Brand: Hadid Development and Mega-Mansion Mania
Through his firm Hadid Development, Mohamed specialized in speculative builds—multi-million-dollar homes constructed without guaranteed buyers. His aesthetic was a blend of modern extravagance and Mediterranean glamor, complete with marble staircases, rooftop gardens, underground theaters, and wine cellars that held thousands of bottles.
Two of his most famous creations include:
- Le Belvedere, a Bel-Air estate sold in 2018 for $56 million, after originally being listed at $85 million.
- Le Palais (Crescent Palace), a 48,000-square-foot Beverly Hills property featuring a 3,800-square-foot roof garden, a 5,000-bottle wine cellar, and an art gallery. It sold in 2013 for $33 million.
Despite his success, Hadid’s financial model of building before selling carried enormous risks—risks that would later come back to haunt him.
The Strada Vecchia Debacle: A Mansion Too Far
In 2011, Hadid purchased a hillside plot in Bel-Air for $1.9 million and began building what would become a 40,000-square-foot mansion known as the “Starship Enterprise.” The structure far exceeded its approved 11,300 square feet and 30-foot height limit, growing to 82 feet tall and including unauthorized features like an underground IMAX theater.
Neighbors launched lawsuits alleging illegal construction, falsified permits, and unstable foundations. In 2019, the City of Los Angeles ordered the entire structure to be demolished, deeming it unsafe and non-compliant. The FBI reportedly investigated claims that Hadid bribed city officials to bypass regulations.
Financial Crisis and Bankruptcy Battle
By late 2019, Hadid’s empire began to collapse. In November 2019, he told a court he could not afford the $500,000 down payment required to begin demolition on the Bel-Air mansion. Days later, his development company filed for bankruptcy, listing debts between $10 million and $50 million. Creditors included design firms, demolition contractors, and utility providers.
The bankruptcy case was ultimately dismissed after the court determined his assets were overleveraged. In a sworn declaration, Mohamed stated:
“My reputation is tarnished… I am 72 years old and do not have the millions of dollars needed for the demolition… I have no liquidity.”
This statement reflected how far his financial situation had fallen. Despite owning “paper assets,” they were heavily mortgaged or tied up in legal battles. In December 2021, the Bel-Air property was sold at auction for $5 million to a developer who promised to demolish it.
Family and Personal Life
Hadid’s family life is equally well-known. He was previously married to Yolanda Hadid, a former model and star of The Real Housewives of Beverly Hills. They share three children: Gigi, Bella, and Anwar Hadid—all internationally recognized figures in fashion.
Their divorce settlement included $3.6 million in cash, luxury vehicles, and several homes. Despite the split, Mohamed has maintained close ties with his children, frequently celebrating their achievements on social media.
Real Estate Moves Amid Legal Woes
Despite his public claims of being financially strapped, Hadid made puzzling real estate moves during his legal troubles. Just two months before claiming he couldn’t afford the Strada Vecchia demolition, he paid $4.5 million for a new home.
Over the years, he also sold major properties to high-profile buyers, including a $17.5 million sale in 2010 to Malaysian financier Jho Low, who is now a fugitive linked to the 1MDB scandal.
Art Gallery and Business Reinvention
Returning to his artistic roots, Mohamed has since opened an art gallery in Beverly Hills, showcasing his paintings and sculptures. This marks a full-circle moment in his life—reconnecting with the passion he once set aside for financial opportunity.
While it’s unclear whether Hadid can rebuild his once-massive real estate empire, he remains active in creative pursuits and occasional international development through Hadid Development, which still has scattered projects in Europe and the Middle East.
Final Thoughts
Mohamed Hadid’s journey from a luxury developer worth tens of millions to a man facing bankruptcy and lawsuits is a cautionary tale in the real estate world. Once praised for his bold, artistic vision in building dream homes for the ultra-rich, his downfall reveals the hidden liabilities of unchecked ambition and legal overreach.
As of 2025, with a net worth of $1 million, Hadid lives a more modest life under the shadow of past glories. Yet his influence in Los Angeles real estate, and his legacy through his children, still keeps his name in the headlines.
