The Family Business CEOs to Watch Class of 2024 comprises 20 exceptional business leaders who are charting the course for long-term success of their enterprises. They include members of the second through fifth generations of family ownership as well as non-family leaders.
James Diamond CEO
Founding generation | Diamond Properties LLC, Mount Kisco, N.Y.
James Diamond is CEO of Diamond Properties LLC, a company he co-founded with his brother, William Diamond, in 1995. Diamond Properties has acquired in excess of 125 properties, including office, medical, industrial, retail, residential, self-storage, recreation and lodging. The company currently owns in excess of 95 properties in 13 states, totaling more than 16 million square feet. William and James Diamond are also co-founders of Diamond Hospitality Group LLC, an owner and operator of family entertainment centers, RV parks and self-storage businesses.
In addition, Diamond is a director of RDI Inc., an electronics engineering and manufacturing company that he and his brother co-founded with their father, Robert L. Diamond, and another person, Barry Miller, in 1989. In 1998, Robert, James and William Diamond co-founded Xanboo Inc., an internet company that was sold to AT&T in 2010. In 2011, the father and sons co-founded Xeleum Inc., an LED lighting company that was sold to a private equity firm in 2019.
Diamond earned a B.A. in history with honors from Princeton University.
“Jim’s visionary approach to strategic planning, coupled with his ability to foster a culture of innovation, has been instrumental in driving sustainable growth,” says Peter Diakovasilis of BDO USA, a tax advisor to the company. “His commitment to transparency and open communication has built a strong, cohesive team that is aligned with the company’s mission and values. Additionally, Jim’s adeptness at navigating market challenges and seizing new opportunities has positioned the company for success in the real estate industry. His relentless focus on operational excellence has not only expanded the company’s market share but also enhanced its reputation.”
“Diamond Properties has grown brick by brick on a foundation of core ethics that at its most simple level champions always doing the right thing,” Diamond says. “Being able to build a company alongside my brother, Bill Diamond, CEO of Diamond Hospitality Group, is profoundly rewarding. We benefit from a structure where as co-owners and CEOs of affiliated but separate companies, we’re each able to lead while relying on our most trusted confidant for advice and guidance.”
Diamond says it’s too soon to tell whether the next generation will join the family enterprise. His two daughters are 20 and 17, and the eldest of his brother’s three children is in eighth grade. “I’d love to see some of the kids have interest in joining,” he says.