“Herb is a quiet, selfless, and steady leader. He’s created a close-knit, family-like culture with the Pacers.” That’s how NBA Commissioner Adam Silver described the longest-tenured owner in NBA history, Herb Simon. A relationship that started in 1983 has stood the test of time, and now the team has reached another final in 2025. Just last year, he was inducted into the Hall of Fame for his contribution not just related to basketball.

A Bronx native and the son of a Jewish tailor who emigrated from Central Europe. From there to the journey to the HOF is simply an honor that he never expected. “This is quite an honor. I want to say thank you to the Hall of Fame for this incredible honor. This is not a recognition that I ever expected, but I’m so honored and humbled to receive it.” But how and when did Simon end up with the Pacers?

Real Estate: the real reason for Herb Simon’s continued success

In 1960, Herb Simon and his brother Melvin (d. 2009) founded the precursor to Simon Property Group. Simon Property Group is now one of the world’s largest real estate investment trusts, with 215 properties globally, including 180 in the U.S. Simon was chairman emeritus until he retired in February 2025. As per Forbes, his net worth stands tall at $5 billion in 2025. That makes him Billionaire number #700 in terms of net worth on Forbes.

Simon also owns an 80% stake in the Indiana Pacers, which he bought with his brother. The team is worth more than $3 billion. Herb, the longest-tenured owner in NBA history, was elected into the Naismith Basketball Hall of Fame in October. But in 1983, Simon did something for the city that borders on immeasurable when he stepped firmly out of his comfort zone and into the world of professional sports to save Indianapolis’ basketball team.

The Indianapolis Star voted that move of two New York City-bred brothers stepping in to save the Pacers from leaving Indy, or being turned over to the NBA, the top sports story of the year in 1983. They had single-handedly kept the Pacers from leaving Indianapolis, and now the relationship has lasted more than a decade. Herb Simon and his late brother Mel saved the Indiana Pacers by purchasing the franchise for $11 million in 1983.

Apart from the Pacers, the Simon family continues to be the majority owner of PS&E, including the Indiana Pacers and Fever. In February 2025, he retired from the role as Chairman Emeritus of the Board of Directors, SPG. But his vision in building the basketball teams is based on a simple formula.

Understanding the 90-year-old’s logic behind the successful venture

Although the Pacers have struggled for success through that time, Simon has tried to build sustainably in Indiana, and they are now in the Finals for just the second time. That building process has earned him a Hall of Fame nod and even a banner in the Gainbridge Fieldhouse. His banner becomes the 10th hung. Five players, two championship-winning coaches, the Simon brothers, and Jim Morris, the addition came after his passing.

During a 2021 interview, Simon said that his top skill in management was delegating. “I’ve always felt as a non-basketball person — theoretically, I mean I love basketball but technique or the details are not in my style — that’s why you hire professionals,” Simon explained. “Even in my other businesses, you hire professionals. You hire attorneys, you hire architects, people who know what they’re doing and why interfere with them?”

Even though he claims to be a non-basketball person, his resume is no less than that of any athlete related to basketball!