Iconic South Coast Businessman, Philanthropist Michael Towbes Dies
A South Coast businessman, and real estate developer who was one of the region’s leading philanthropists has died.
Michael Towbes had been battling pancreatic cancer.
Towbes was Chairman of the Board of The Towbes Group, a real estate investment, development, construction, and property management company. He was also until just recently chairman of Montecito Bank and Trust, which he founded.
Towbes was well known in the community for his contributions to non-profits. He and his family helped numerous social service and arts groups. The Towbes Foundation gives more than $900,000 annually to more than 300 organizations.
A public memorial service will take place May 23rd at the Granada Theater. Towbes was 87 years old.