Michael Schlup is a real estate developer and entrepreneur, best known for his significant contributions to commercial and residential property development. As of 2025, his estimated net worth is approximately $5 million. His wealth primarily comes from his career in real estate development, technology investments, and other business ventures.
Early Life and Career
Michael Schlup was born and raised in the United States, with his career in real estate beginning at a young age. He attended college and pursued studies that would eventually prepare him for a career in real estate and business development. Over time, he developed a passion for property development and began his professional journey in the real estate industry.
Real Estate Career
Schlup founded Carson Development, Inc., a real estate development company based in Overland Park, Kansas. Over his career, he has developed more than 2.5 million square feet of commercial and residential properties. Some of his most notable projects include the Corbin Park retail complex in Overland Park and the Southridge Retail Center.
His company has been involved in several major developments, including the Plaza Garden Townhomes and the Metcalf Project, a 155-acre development that consists of a housing subdivision, apartment complexes, townhomes, a retirement community, and commercial space. These projects have been key to building his wealth over the years, as they generate significant returns from both residential and commercial leasing.
Technology Investments and Other Ventures
In addition to his real estate work, Michael Schlup has diversified his income through investments in various technology companies. His ability to adapt to new industries has helped him expand his financial portfolio and increase his wealth. Schlup’s investments in technology have added another layer of income to his net worth, allowing him to capitalize on the growing tech sector.
Controversies and Financial Decisions
Despite his success, Michael Schlup’s career has not been without controversy. In the 1990s, he was involved in a federal loan application fraud case and served time in prison. Later, in 2007, he was convicted of tax evasion after being found guilty of paying undocumented workers in cash for a project at Lake of the Ozarks. These legal issues led to restrictions on conducting future business in Missouri, which impacted his reputation in the business world.
Despite these setbacks, Schlup continued his work in Kansas, focusing on large-scale developments that have significantly contributed to his wealth. His perseverance in the face of adversity allowed him to maintain a strong presence in the real estate industry.
Sources of Income
Michael Schlup’s wealth primarily comes from several key sources:
- Real Estate Development: The bulk of his wealth stems from his company, Carson Development, Inc., and its various real estate projects.
- Technology Investments: Schlup has made investments in technology companies, further diversifying his income streams.
- Other Business Ventures: Schlup has engaged in various other entrepreneurial efforts, contributing to his overall net worth.
Net Worth Breakdown
Michael Schlup’s estimated net worth is approximately $5 million, which is largely attributed to his real estate developments and investments.
| Source of Income | Estimated Contribution |
|---|---|
| Real Estate Development | $3 million |
| Technology Investments | $1 million |
| Other Business Ventures | $1 million |
| Total Net Worth | $5 million |
Philanthropy and Charitable Contributions
While specific details about Schlup’s philanthropic activities are not widely documented, it is likely that, as a successful entrepreneur, he has engaged in charitable endeavors. His business success, particularly in large-scale development projects, may have also benefited local communities by providing housing and commercial spaces for businesses to thrive.
How His Net Worth Compares to Peers
Compared to other real estate developers and entrepreneurs, Michael Schlup’s estimated net worth of $5 million places him in a solid position within the industry. While his net worth is not as large as some industry giants, his ability to develop multimillion-dollar properties and invest in various sectors has allowed him to build considerable wealth.
Is His Wealth Halal or Haram in Islam?
In Islam, wealth is considered halal (lawful) if it is earned through permissible means and not through prohibited activities such as riba (interest) or gambling. Given that Michael Schlup’s wealth comes from legitimate business ventures, including real estate development and investments, his wealth is likely considered halal.
Future Projections
As of 2025, Michael Schlup continues to work in real estate development, and his net worth is likely to grow as the industry continues to expand. His ability to navigate different business sectors and maintain a diversified portfolio of investments suggests that his wealth will continue to increase in the coming years.
Conclusion
Michael Schlup’s estimated net worth of $5 million reflects his successful career as a real estate developer, entrepreneur, and investor. Through his work with Carson Development, Inc., his investments in technology, and his entrepreneurial ventures, Schlup has built a solid financial foundation. Despite facing legal setbacks in his career, his continued involvement in real estate development and business ventures suggests that his wealth will grow in the future.