Glen Nelson, the CEO of the Matrix Group, passed over the weekend after crashing his car into a utility pole in Long Island, according to reports.
The 48-year-old was driving along East Broadway in Port Jefferson when his 2008 Lamborghini Murcielago veered into a Verizon utility pole about 3:40 p.m. Sunday, police said.
Suffolk County police were investigating the crash Tuesday. It was not immediately clear if speed played a factor in the single-car accident.
Police said he was taken to Charles Hospital in Port Jefferson but doctors were unable to save his life.
Colleagues and people close to him have described him as a self made success story. A source told Newsday, “He was one of the most inspiring businessmen in the real estate field.”
Nelson was the founder, Chairman, Chief Executive Officer, and President of The Matrix Group. Founded in 1993. Nelson shortly thereafter partnered with Richard Nieto (deceased).
According to its Facebook page, his Company is a diversified real estate investment and management company with holdings throughout the United States. Its current holdings include multi-family residential, commercial office and special purpose commercial properties.
According to the company website, Mr. Nelson has over 25 years of residential and commercial real estate experience. He is responsible for managing all aspects of the Company, including setting its overall vision for growth and value. Since 1993, Mr. Nelson has overseen the acquisition, financing, leasing, property management, redevelopment, and sale of over 10 million square feet of real estate throughout the United States.
The Long Island native said in a 2013 article, reminiscing about the early days of his company:
“One of our first commercial acquisitions was in Suffolk County. After acquiring a few more local properties in the nineties, the returns just didn’t work for us any longer. Prices were artificially high, the banks were over financing and everyone was over leveraged, and then the stock market plunged. The Long Island market was more acutely affected than most and it made sense for Matrix to shift our focus and expand across the country.”
He is related to Susan Birk, Nelson Birk and Judith Nelson. He was a father of four, though is not clear who the wife is.
Images of the tragic scene showed the car’s crumpled front end and roof after the crash with the vehicle’s windscreen shattered on the ground. Media reported the crash also caused a power outage to 15 customers in the local area.
Glen Nelson is survived by his four children: Brianna, Phillip, Christopher and Gina Nelson.
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