Charles Modica’s net worth is estimated at $50 million to $100 million, though no verified financial disclosure confirms an exact figure. He’s an American lawyer, education entrepreneur, and real estate developer, age 79, best known as founder and chancellor of St. George’s University (SGU) medical school in Grenada, and more recently as the owner and restorer of the historic presidential yacht Honey Fitz.
Quick Facts
Personal Information
| Field | Detail |
|---|---|
| Born | 1947, Long Island, New York |
| Age | 79 (as of 2026) |
| Nationality | American |
| Residence | Jupiter, Florida; also tied to Shelter Island, New York |
| Background | Lawyer, education entrepreneur, real estate developer, classic yacht restorer |
Career Snapshot
| Field | Detail |
|---|---|
| Best Known For | Founder & Chancellor, St. George’s University (SGU), Grenada |
| Founded | July 23, 1976, at age 29 |
| Other Ventures | Love Street (Jupiter, FL, with Joe Namath); Honey Fitz yacht restoration |
| Board Roles | Barry University, Rosarian Academy, WXEL Public Radio & Television |
Biography
Early Life
Charles R. Modica grew up on Long Island, New York, the son of Louis J. Modica, a successful real estate developer. That early exposure to property development would later shape his own business ventures alongside his education career.
Education
Modica trained as a lawyer, earning his law degree before turning his legal background toward an unconventional goal: building a medical school outside the traditional U.S. system.
Career Journey
In 1976, at just 29 years old, Modica co-founded St. George’s University in Grenada as a for-profit medical school for academically qualified American students who couldn’t gain admission to U.S. medical schools. The other original founders — his father Louis J. Modica, land developer Edward McGowan, and business lawyer Patrick F. Adams — were also from Long Island. Classes began in January 1977. SGU has since become one of the largest sources of new physicians entering the U.S. healthcare system, with nearly 25,000 graduates across medicine, veterinary medicine, and public health. In 2025, SGU renamed its central campus the Chancellor Charles Modica Campus in his honor. Beyond education, Modica developed Love Street, a Jupiter, Florida retail and dining destination created with longtime friend and NFL Hall of Famer Joe Namath. He’s also a longtime classic yacht collector, and in 2020 purchased the historic presidential yacht Honey Fitz — used by five U.S. presidents from Truman to Nixon — leading a nearly four-year restoration completed at Rybovich Marina.
Net Worth Overview
Estimated Net Worth
Public estimates place Modica’s net worth between $50 million and $100 million, though this range comes from unofficial aggregator sites rather than a disclosed financial statement. One frequently cited source offering this range shows no visible sourcing, limiting its reliability.
How the Estimate Is Calculated
Estimates are generally built from SGU’s decades-long tuition revenue as a for-profit institution, combined with Modica’s real estate ventures like Love Street and his ownership of high-value classic yachts, including Honey Fitz and the 1930 America’s Cup tender Bystander.
Verified vs. Estimated Information
Verified: his founding role at SGU, board memberships, Love Street development, and Honey Fitz ownership and restoration.
Estimated only: his exact personal net worth and SGU’s specific financial structure or his ownership share.
Income Sources
Primary Career Earnings
Decades of leadership income and equity tied to St. George’s University, a for-profit medical school.
Business Ventures
Real estate development, including Love Street in Jupiter, Florida, developed with Joe Namath.
Brand Deals & Investments
No public reporting confirms individual brand partnerships; his ventures are primarily education and real estate based.
Other Income Sources
Classic yacht restoration and limited charter/event use of Honey Fitz, described as a passion project rather than a primary income source.
Career Achievements
Major Milestones
Founding SGU in 1976, building it into a top provider of new physicians to the U.S. healthcare system, developing Love Street with Joe Namath, and restoring the presidential yacht Honey Fitz stand out as his most documented achievements.
Awards & Recognition
SGU’s central campus was formally renamed the Chancellor Charles Modica Campus in 2025, recognizing his nearly 50 years of leadership.
Interesting Facts
- He founded SGU at just 29, straight out of his own legal career.
- He restored the presidential yacht Honey Fitz, once used by JFK, to its exact Kennedy-era condition.
- He also owns the 1930 America’s Cup tender Bystander.
- He co-developed Jupiter, Florida’s Love Street district with NFL Hall of Famer Joe Namath.
Readers interested in other public figures whose wealth estimates vary widely across sources may also want to check our Emily Sutton, Paula Reid, and Gretchen Corbett net worth profiles.
Frequently Asked Questions
What is Charles Modica’s net worth in 2026?
Estimated between $50 million and $100 million by aggregator sites, though no verified financial disclosure confirms an exact figure.
How old is Charles Modica?
He was born in 1947, making him approximately 79 years old as of 2026.
Does Charles Modica have a Wikipedia page?
There’s no standalone Wikipedia page confirmed for Charles Modica specifically, though he’s extensively covered within the St. George’s University Wikipedia entry as its founder.
Why is Charles Modica connected to Jupiter, Florida?
He resides in Jupiter, Florida, where he developed the Love Street retail district and where his restored presidential yacht, Honey Fitz, is docked at the Pelican Club.
What is Charles Modica’s connection to the Honey Fitz?
He purchased the historic presidential yacht in 2020 after its previous owner passed away, then led a nearly four-year restoration to its original Kennedy-era condition.
Has Charles Modica written a book?
No confirmed published book has been documented; available profiles reference his career and philanthropy rather than any authored work.
What is SGU, and how is Charles Modica connected to it?
St. George’s University (SGU) is a private medical and veterinary school in Grenada that Modica co-founded in 1976 and has led as chancellor for nearly 50 years.
Conclusion
Charles Modica’s nearly 50-year career — from a 29-year-old lawyer founding a medical school to today’s chancellor of one of the top sources of U.S. physicians, plus his celebrated restoration of the presidential yacht Honey Fitz — is well documented through SGU’s own records and national press coverage. What remains unverified is his exact net worth: the widely cited $50–$100 million range comes from unofficial estimates, not a disclosed financial statement. Until verified figures surface, treat that range as an informed approximation rather than a confirmed fact.