Real estate billionaire Donald Bren has publicly distanced himself from his son, David Bren, who faces multiple lawsuits alleging he defrauded investors of more than $2 million through a non-existent exclusive club. The proposed venture, named "The Bunker," was marketed to affluent individuals as a luxury automotive and lifestyle society.
In a concise statement, a representative for the 93-year-old tycoon, whose net worth is estimated at $19 billion, severed ties with the 33-year-old. The allegations, which span from 2020 to 2022, have resulted in significant financial losses for investors and have been linked to one investor's death by suicide.
Key Takeaways
- David Bren, son of billionaire Donald Bren, is accused in lawsuits of raising over $2 million for a fake business called "The Bunker."
- The venture was pitched as an exclusive club for the ultra-rich, offering access to supercars and luxury experiences.
- Donald Bren's company issued a statement declaring no personal or business relationship with his son.
- One investor, Tony Chen, died by suicide after investing a substantial amount in the alleged scheme.
- Lawsuits claim the business was a "mirage" created to finance David Bren's personal lifestyle.
The 'Soho House for Car Lovers' That Never Was
According to lawsuits and investor documents, David Bren presented a compelling vision for "The Bunker." It was described as the "Soho House for car lovers," an elite membership club designed for the wealthiest enthusiasts. The pitch promised access to an impressive fleet of high-performance vehicles, including models from Ferrari, Bugatti, and Porsche.
Membership perks were said to extend beyond cars, encompassing curated dining events, premium wines, and high-end cigars. To lend credibility to the project, presentations allegedly listed prominent figures like Mark Cuban, Larry Ellison, and NBA player Kristaps Porzingis as potential founding members, who would supposedly pay a monthly fee of $14,500.
A High-Profile Family Background
David Bren is one of two children of Donald Bren and his former girlfriend, Jennifer McKay Gold. The family's history includes a 2003 trial where Gold sued Bren for retroactive child support. While a jury ruled in Donald Bren's favor, the proceedings brought public attention to his relationship with his children.
The operational hub for this exclusive club was to be a supercar fleet stored in Beverly Hills. This plan was reportedly contingent on the project's owners completing a $90 million acquisition of the Mr. C Beverly Hills Hotel. However, lawsuits filed by investors allege this entire narrative was a fabrication.
One lawsuit states, "The Bunker does not exist. There is no ultra-high end automotive club. There are no members. The business is a mirage." Another legal filing claims the entire concept was a "charade designed to lure investors... to fund his own extravagant lifestyle."
A Billionaire Father's Distancing Statement
As legal challenges mounted against his son, Donald Bren, the chairman of the Irvine Company with a real estate portfolio of approximately 129 million square feet, made his position clear. Through spokesperson Paul Hernandez, a brief but definitive statement was issued.
"We do not have a personal or business relationship with this individual."
This 12-word declaration effectively disowned his son in a public and official capacity, signaling that the vast Bren fortune would not be used to resolve the legal and financial issues David Bren faces. This public separation is significant, as some investors claimed David used his family name to build trust and secure funds.
Leveraging a Complicated Family History
Accounts from those who interacted with David Bren suggest he used his strained relationship with his father to his advantage. Some investors reported that he created the impression that his influential father was readily available for support. Chris Rising, an associate of the Bren family who was involved in David's attempt to purchase the hotel, noted, "He presented like he could have picked up the phone and called his father right away."
Conversely, others claimed he garnered sympathy by portraying himself as a victim of a wealthy, unsupportive father. Mike Tran, a close friend of one investor, described the tactic: "He was slick. He played this, like, victim... 'My Dad didn’t give me nothing; I could do this, but no one believes in me.'" This narrative allegedly helped him connect with investors on an emotional level.
Investors Recount Growing Doubts and Financial Ruin
Several investors have come forward detailing their experiences. Nanxi Lu, a tech entrepreneur, invested $100,000 in 2021 after David Bren allegedly assured her that a contract to buy the Beverly Hills hotel was already secured. Despite her skepticism, she moved forward on the advice of her mentor, Tony Chen, who was reportedly captivated by the project.
The Financial Toll
- Total Alleged Fraud: Over $2 million
- Individual Investments: Ranged from $100,000 to nearly $1 million per person.
- Bounced Check: A repayment check for $500,000 written to two investors was returned for insufficient funds.
Lu's doubts grew after attending a West Hollywood event that David claimed "The Bunker" was co-sponsoring with Louis Vuitton. She saw no branding or evidence of the club's involvement. When she later tried to withdraw her investment, Bren allegedly paid back only $10,000 and offered a complimentary membership instead of the remaining funds.
Other investors faced similar issues. According to court records, Elham Alsulaiman and Zainal Alireza provided $1 million in seed money. After expressing regret, Bren reportedly wrote them a check for $500,000, but the check bounced.
The Tragic Outcome for One Believer
The most devastating story connected to the alleged scheme is that of Tony Chen, the Bay Area entrepreneur who had encouraged Nanxi Lu to invest. According to reports, Chen became deeply involved in the project, investing a sum described as "just shy" of $1 million by his attorney, Joshua Ritter, who represents about eight investors.
As the project's promises failed to materialize in 2022, Chen's financial and personal life reportedly collapsed. He separated from his wife and moved in with his friend, Mike Tran. Tran explained Chen's perspective on David Bren: "Tony built out this thing for this guy like, ‘Oh man, he’s this underdog. He’s this David. And if he gets this right, he’s going to become Goliath.’”
In September 2022, Tran found Chen in his garage, having died by suicide. The Santa Clara County medical examiner's office confirmed the cause of death. He was 46 years old and is survived by his ex-wife and daughter. The incident highlights the severe human consequences behind the financial allegations. David Bren has not responded to media requests for comment on the lawsuits.
