Masoud Shojaee Net Worth – $100 million
What is Masoud Shojaee’s net worth? Who is Masoud Shojaee’s first wife?
Introduction
Masoud Shojaee likes the finer things in life—bespoke suits, private jets, fancy cars, and international cuisine.
And he can afford it.
The Iranian immigrant who arrived in the United States with some seed money from his father and a dream to make his family proud, graduated from the University of Miami and made his mark on Florida real estate.
Now, the Shoma Group wields a hefty amount of influence on the South Florida real estate market, and Masoud is its fearless leader.
But what do we know about the enigmatic and private real estate mogul with a penchant for luxury and an impressive amount of business savvy?
Let’s find out.
The Origin Story
Masoud Shojaee was born on August 3, 1959, in Tehran, Iran.
Masoud’s father owned a successful construction company with more than 400 employees.
The company handled a large number of government contracts but came under fire amid local unrest and several large scale strikes.
In August of 1978, Shojaee’s father gave him some seed money and sent him to the United States to pursue a university education.
Within several months of Masoud’s arrival in the US, the revolution broke out in Iran, and he could no longer return home safely.
Alone and isolated from his family, an 18-year-old Masoud was exiled from his home and unsure of what to do next.
Initially, he looked at enrolling at the University of California Los Angeles, but after building some connections in South Florida, he was convinced to enroll instead at the University of Miami.
Shojaee earned a degree in electrical engineering and then pursued his Ph.D.
The Birth of an Empire
Just a decade after arriving in the United States as an exile, Masoud Shojaee had turned his life around.
With a Master’s Degree and a Ph.D. under his belt and a lifetime of knowledge passed down from his developer father, Shojaee had a plan.
He was still under 30 when he founded the Shoma Group in 1988.
The Group’s focus back then was on building single-family homes in South Florida.
Over the next three decades, it would grow exponentially, to include apartment buildings, commercial real estate, and retail space across the region.
From the early days of the Shoma group, Shojaee showed a keen insight into developments in the Hialeah and Doral areas.
Credited with transforming the latter into a functional community, he was hailed through the 90s and new millennium as the King of Doral.
Wife
It would be easy to think that Masoud Shojaee achieved his place at the pinnacle of South Florida real estate development on his own—but he had a partner on his way to the top.
That partner was Masoud Shojaee’s first wife, Maria Lamas—the daughter of Aljoma Lumber founder Jose Lamas.
The pair were married in 1986, and Maria co-founded the Shoma Group with him.
The pair incorporated the Shoma Development Corporation together two years after they tied the knot, with Masoud taking the role of president, and Maria, the role of secretary.
Over the next three decades, Masoud and Maria welcomed two daughters—Anelise and Lilibet—and built the company into one of the biggest development firms in the state.
Being a Florida power couple must have taken its toll on the pair—Maria filed for divorce in April of 2015, ending a 29 year marriage.
Love & Marriage (Again)
Masoud isn’t one to give up easily—in business or in love.
In 2019, 4 years after his divorce was finalized, he tied the knot for a second time.
This wife was Stephanie Shojaee (née Mejia), his company’s Chief Marketing Officer.
Under Stephanie’s leadership, the firm had seen profits increase by 30% and boosted the company’s gender diversity.
Mejia may have been ultra-successful in the corporate world, but she had come from humble beginnings as the daughter of Colombian immigrants.
The stylish executive shares her husband’s taste for luxury—in 2020, she was one of the only female brand ambassadors for Rolls-Royce in the US.
Shoma Group promoted Masoud’s second wife to the role of president in March of 2022.
Masoud will remain Chairman and CEO.
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Masoud Shojaee – Net Worth 2024
So, how much is Masoud Shojaee worth? Shojaee earned most of his wealth from serving as the president and chairman of the board of Shoma Group. Therefore, Masoud Shojaee has an estimated net worth of $100 million.
In 2021, Shoma Group sold Doral apartments for $102.5 million.
In April 2022, Shoma bought a development site for $220 million.
In February 2017, Masoud listed his Moroccan-style estate in Coral Gables for $15.9 million. The price dropped to $12.9 million in August 2017.
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