Whoever said that business means taking risks everyday hasn't met billionaire real estate tycoon Dr. Alexander Rovt, who has been able to capitalize upon the coveted American dream with his traditional business practices, which he learned growing up in the midst of the ancient Carpathian Mountains. If there is a businessman who has risen through the ranks and achieved an exalted position in the world of brilliant entrepreneurs, it has to be Dr. Alexander Rovt, a real estate investor and international businessman. Born in Mukachevo, now a part of Ukraine, Dr. Rovt was raised Jewish and spent the earlier part of his life living closer to the Hungarian border. His father was a factory supervisor and his mother was a hard-working housewife.
During his early years in erstwhile Russia, Dr. Rovt graduated from the Lviv Trade and Economic Institute in 1973 and, subsequently, earned a doctorate in Economics as well as Ph.D. in Worldwide Economics. Afterwards, he emigrated to Hungary, where he started working as a vegetable loader at a shop. Within a few months, he had taken over the store as a manager and that was just the beginning of his ingenuity, which saw him becoming a department head in a Hungarian state-owned distribution agency at the age of 27.
However, Alexander wanted more from life and he decided to emigrate to America in 1985 along with his wife Olga. He began his journey to the top at the very bottom, working at his uncle's kosher deli in New York City and also selling jewelry.
Eventually, Dr. Rovt reached the IBE Trade Corporation, using his connections within the Eastern bloc to help IBE expand its operations to the Soviet Union. By the time Alexander bought the firm, IBE was controlling 70% of Russian and Ukrainian Ammonia trade. Gradually, he began to put his money into real estate throughout NYC, starting with a rental building in Brooklyn. Today, he owns a vast portfolio of buildings across the Big Apple as well as in cities such as Toronto and Budapest. Today, Dr. Rovt works as more of a consultant for the fertilizer business and his approach to real estate remains different. He doesn't believe in accumulating debt and instead looks for investments on a long-term basis.
When asked about the biggest tip for success in business, Dr. Rovt says, "I am personally very conservative as an entrepreneur. I won't suggest pursuing risky ventures. I myself carefully study everything before I put my money into it. Also, you need to keep in mind that one cannot be successful in every project, but following this strategy means you can hope for overall success in your enterprise."
Despite leading a super-busy life as Vice Chairman of the NYC Board of Corrections, Trustee of the John Jay College of Criminal Justice, and Chairman of the Board of Trustees for One Brooklyn Health Systems, Inc., Dr. Rovt finds time to spend with his family and friends. He does this because he values meaningful relationships in his life, much more than the wealth that he has accumulated over the years.
