Matthew Bucksbaum
He co-founded a mall empire from a single Iowa grocery store, shaping the American shopping landscape and becoming a quiet force in philanthropy.
1926–2013 (age 87)·American businessman and philanthropist·Birthday: February 20·The Greatest Generation
Biography
Matthew Bucksbaum's story is a classic American retail saga. After his family lost their department store in the Great Depression, he and his brothers, Martin and Maurice, started anew with a small grocery store in Cedar Rapids, Iowa, in 1948. Their innovation was offering free parking, a novel concept that drew customers. This single store grew into a chain, and the brothers astutely recognized that the real value wasn't just in the stores but in the land beneath them. They began buying the properties, a move that led to the creation of General Growth Properties in 1954. Under Matthew's leadership as longtime chairman, the company became a titan, developing and managing shopping malls that served as community hubs across the country. A man of Midwestern modesty, he and his family channeled their success into significant philanthropic efforts, particularly in education, medicine, and Jewish causes, leaving a legacy embedded in both the physical and social fabric of America.
The Greatest Generation
1901–1927
Grew up during the Depression, fought World War II, and built the postwar economic boom. Defined by shared sacrifice, institutional trust, and a belief that hard work and loyalty would be rewarded.
Matthew was born in 1926, placing them squarely in The Greatest Generation. The events that shaped this generation — world wars, depression, and rapid industrialization — shaped the world they entered and the choices available to them.
#1 When Matthew Was Born
The biggest hits of 1926
#1 Movie
Ben-Hur: A Tale of the Christ
Matthew's Life & Times
The world at every milestone
1926Born
Robert Goddard launches the first liquid-fueled rocket
President: Calvin Coolidge"Baby Face" — Jan Garber
1931Started school
The Empire State Building opens as the world's tallest
Gas: $0.17/galPresident: Herbert Hoover"Minnie the Moocher" — Cab CallowayBest Picture: Cimarron
1939Became a teenager
World War II begins; The Wizard of Oz premieres
Gas: $0.19/galMin wage: $0.30/hrPresident: Franklin D. Roosevelt"Over the Rainbow" — Judy GarlandBest Picture: Gone with the Wind
1942Could drive
Battle of Midway turns the tide in the Pacific
Gas: $0.20/galHome: $3,175Min wage: $0.30/hrPresident: Franklin D. Roosevelt"White Christmas" — Bing CrosbyBest Picture: Mrs. Miniver
1944Could vote
D-Day: Allied forces land at Normandy
Gas: $0.21/galHome: $3,400Min wage: $0.30/hrPresident: Franklin D. Roosevelt"Swinging on a Star" — Bing CrosbyBest Picture: Going My Way
1947Turned 21
India gains independence; the Dead Sea Scrolls found
Gas: $0.23/galHome: $6,600Min wage: $0.40/hrPresident: Harry S. Truman"Near You" — Francis CraigBest Picture: Gentleman's Agreement
1956Turned 30
Elvis Presley appears on The Ed Sullivan Show
Gas: $0.30/galHome: $10,050Min wage: $1.00/hrPresident: Dwight D. Eisenhower"Heartbreak Hotel" — Elvis PresleyBest Picture: Around the World in 80 Days
1966Turned 40
Star Trek premieres on television
Gas: $0.32/galHome: $14,200Min wage: $1.25/hrPresident: Lyndon B. Johnson"The Ballad of the Green Berets" — SSgt Barry SadlerBest Picture: A Man for All Seasons
1976Turned 50
Apple Computer founded; US bicentennial
Gas: $0.59/galHome: $29,300Min wage: $2.30/hrPresident: Gerald Ford"Silly Love Songs" — WingsBest Picture: Rocky
1986Turned 60
Challenger disaster; Chernobyl nuclear meltdown
Gas: $0.86/galHome: $66,600Min wage: $3.35/hrPresident: Ronald Reagan"That's What Friends Are For" — Dionne & FriendsBest Picture: Platoon
1996Turned 70
Dolly the sheep cloned
Gas: $1.23/galHome: $99,700Min wage: $4.75/hrPresident: Bill Clinton"Macarena" — Los del RioBest Picture: The English Patient
2006Turned 80
Twitter launches; Pluto reclassified as dwarf planet
Gas: $2.59/galHome: $174,700Min wage: $5.15/hrPresident: George W. Bush"Bad Day" — Daniel PowterBest Picture: The Departed
2013Died at 87
Edward Snowden reveals NSA surveillance programs
Gas: $3.53/galHome: $152,800Min wage: $7.25/hrPresident: Barack Obama"Thrift Shop" — Macklemore & Ryan LewisBest Picture: 12 Years a Slave
Key Achievements
- Co-founded General Growth Properties, which grew to become the second-largest shopping mall operator in the United States.
- Served as the Chairman of the Board for General Growth Properties for decades, guiding its national expansion.
- Was a major philanthropic donor, with his family foundation supporting institutions like the University of Chicago and the Aspen Music Festival and School.
- Helped establish the Bucksbaum Institute for Clinical Excellence at the University of Chicago Medicine.
Did You Know?
The first store he and his brothers opened was called 'Food Fair.'
He was a championship-level tennis player in his youth and remained an avid player.
He and his wife, Carolyn, were known for their extensive collection of contemporary art.
General Growth Properties filed for one of the largest real estate bankruptcy cases in U.S. history in 2009, after his tenure as CEO had ended.
“A store is only as good as the community it serves.”
