Michael Nile Niami
|Net Worth:||$50 Million|
|Age:||54 years old|
|Height:||6 feet (182cm)|
|Birthplace:||United States of America|
|Occupation:||Film Producer, Real Estate Investor|
|Last Updated:||August, 2022|
Famous for developing mega real estates in the Holmby Hills, Beverly Hills and Bel Air, Michael Nile Niami, a former American film producer, shares the world’s millionaires’ hall of fame with a net worth of $50 million in 2022. Let’s get to know Nile Niami success story, investment interests and some interesting facts, without further delay.
How Did Nile Niami Become Rich?
Nile Niami ’s professional life started as a film producer in 1995 with a film called ‘Galaxis’. And down the line, with the use of his own production house, he went on to produce another 14 films (15 films altogether). Most of his works were classed as ‘B-movies’ (low-budgeted commercial entertainment movies), yet they did earn him the popularity he needed to move on. It was after this much of work in the film industry that he managed to raise investments to be spent on real estate.
So Nile Niami started by purchasing cheap LA based residences, investing in them, and selling them using his business skills later on as their prices rose with time. His business plan also comprised of building condominiums during this phase. One of the prominent works which earned him a kick start into bigger business was a mansion in Holmby Hills, which he sold to a Saudi client worth of $44 million. And this opened up further opportunities for similar work to follow, especially targeting the class of people he had been working with as a producer earlier.
In 2014 Nile’s next big deal got finalized as he sold another mansion worth $39 million to musician Sean Combs in Holmby Hills again. Floyd Mayweather, a well-known boxer, also bought a mansion worth $26 million in 2017. The same year he came up with a residential project spanning over 20,500 square feet. William Ding, a Chinese billionaire, offered him $50 million for this mansion called ‘Opus’, yet Nile refused his offer and finally sold it later on for $100 million to some other client.
As the demand for state-of-the-art work increased among his clients, Nile Niami eventually hired architect Paul McClean to come up with out-of-the-box ideas. The house that he built for the famous Winklevoss twins (namely Cameron and Tyler Winklevoss) in The Birds Streets and a mega-mansion in Bel Air worth $340 million, are two highlighted projects Mr. McClean has designed on Nile’s demand. That’s how Niami’s standards kept improving over time and so did he go on to construct the most special and widely known project of his career: ‘The One’.
This mansion covered an area of 100,000 square feet in Bel Air, and so did it fall under the category of one of the most expensive private mansions listed in the US. Mr. Niami had been looking forward to selling it for $500 million after having borrowed $82.5 million from Hankey Capital (a private lender company) to cover construction costs.
However, Nile has tentatively ended up in danger since the debt has been raised to $110 million over the past three years. So, as obvious as it seems, Hankey Capital is after their money which they didn’t receive, for the estate has still not been sold. And as per available media reports, they can ultimately get the rights to sell this property if Nile is unable to pay them their loan back in a limited number of months.
What Is Nile Niami Net Worth?
Although Nile Niami did receive the attention from his works in the film industry, yet he secured a net worth of $50 million through his fortune with the real estate business he’d been involved in.
In January 2022 Nile Niami sold $26 million worth mansion in Hollywood Hills, California. A year before he sold two houses worth $36 million each. It’s safe to say that in recent years his net growth steadily and Nile doing his best to prolong this growth as much as he wants.
How Nile Niami Spends His Money?
Being in the real business himself, this 54 years old millionaire has invested in luxurious property for him and his family to reside in as well. His Instagram account show pictures of him residing in luxurious houses, and riding pricey cars and bikes.
Nile Niami owns a house in West Hollywood for personal use, the interiors of which have been designed in the 1970s with articles like platform beds and a 24-foot-tall golden giraffe sculpture.
Some of his other social media posts also tell his followers about his close bond with his sons, which he’s been found to strengthen through joint ventures in traveling and enjoying food together. Same goes for when he hosts parties at his residences, i.e., he loves enjoying lavish food with his guests as well.
- ‘The One’, Nile Niami’s most valuable property in Bel Air, California, has been considered as the world’s most expensive residential property on sale.
- As part of his marketing strategy, Nile Niami had lately launched a social media campaign on Instagram where he’d asked 200 social media influencers to market ‘The One’, and receive prize money of $1 million for bringing a buyer. Just recently, his Instagram account has managed to attract around 94.4k followers.
- 2017 turned out to be the year when Nile Niami was looking forward to upgrade his business with new ideas and a team, however with regards to personal life, it didn’t turn out too well. Back then, his 18 years old married life was about to take a rough end as his wife Yvonne Niami had filed for divorce. The couple had two children together, namely; Brent Niami, and Bryce Niami.
- Niami hasn’t disclosed much about his parents, however, what has been known about his childhood is about his mother raising him as a single mother. Assumingly, he must have been closer to her than any other kid since she played the father’s role as well. However, he lost her in 2001 when a house invader happened to murder her.
- Due to the milestones, Nile Niami has lately been meeting with regards to his business in real estate, he’s earned the title of ‘L.A.’s Megamansion King’.